PDT Partners LLC Purchases Shares of 186,596 Rocket Pharmaceuticals, Inc. $RCKT

PDT Partners LLC purchased a new position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 186,596 shares of the biotechnology company’s stock, valued at approximately $638,000. PDT Partners LLC owned about 0.17% of Rocket Pharmaceuticals at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of RCKT. BlackRock Inc. acquired a new stake in Rocket Pharmaceuticals during the 2nd quarter worth approximately $33,940,000. Monaco Asset Management SAM acquired a new position in Rocket Pharmaceuticals during the second quarter valued at approximately $8,483,000. MPM Bioimpact LLC lifted its position in Rocket Pharmaceuticals by 141.2% during the second quarter. MPM Bioimpact LLC now owns 3,903,081 shares of the biotechnology company’s stock valued at $9,563,000 after buying an additional 2,284,816 shares in the last quarter. Qube Research & Technologies Ltd increased its position in shares of Rocket Pharmaceuticals by 690.8% in the second quarter. Qube Research & Technologies Ltd now owns 1,548,262 shares of the biotechnology company’s stock worth $3,793,000 after acquiring an additional 1,352,469 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of Rocket Pharmaceuticals by 52.0% in the third quarter. Millennium Management LLC now owns 3,570,391 shares of the biotechnology company’s stock worth $11,639,000 after acquiring an additional 1,221,554 shares in the last quarter. 98.39% of the stock is owned by institutional investors and hedge funds.

Rocket Pharmaceuticals Stock Performance

Shares of RCKT stock opened at $3.62 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 9.24 and a quick ratio of 9.24. The company’s fifty day moving average price is $3.51 and its two-hundred day moving average price is $3.62. The firm has a market capitalization of $397.40 million, a P/E ratio of -21.29 and a beta of 0.47. Rocket Pharmaceuticals, Inc. has a 12 month low of $2.53 and a 12 month high of $5.45.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its earnings results on Monday, August 10th. The biotechnology company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.22. During the same period last year, the company earned ($0.62) EPS. On average, research analysts anticipate that Rocket Pharmaceuticals, Inc. will post -1.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Weiss Ratings lowered shares of Rocket Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. Chardan Capital restated a “buy” rating and set a $11.00 price objective on shares of Rocket Pharmaceuticals in a research note on Monday, May 11th. Wall Street Zen raised Rocket Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, August 17th. Finally, Wedbush dropped their target price on Rocket Pharmaceuticals from $16.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.57.

Insiders Place Their Bets

In other Rocket Pharmaceuticals news, COO Christopher James Stevens sold 36,658 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $3.50, for a total transaction of $128,303.00. Following the completion of the sale, the chief operating officer owned 505,784 shares in the company, valued at $1,770,244. This trade represents a 6.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 50,613 shares of company stock worth $176,035. 21.30% of the stock is owned by company insiders.

Rocket Pharmaceuticals Company Profile

Rocket Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing gene therapies for rare, inherited pediatric diseases. The company employs a proprietary adeno-associated virus (AAV) and lentiviral vector platform to deliver functional copies of genes in patients with genetic deficiencies. Its programs target a spectrum of disorders, including Fanconi anemia, leukocyte adhesion deficiency type I and Danon disease, with the goal of delivering one-time treatments that address the underlying causes of disease rather than merely managing symptoms.

The company’s pipeline comprises multiple product candidates in various stages of development.