Prosight Management LP Acquires 929,337 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Prosight Management LP boosted its holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 583.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,088,706 shares of the biotechnology company’s stock after acquiring an additional 929,337 shares during the period. Rocket Pharmaceuticals accounts for 3.8% of Prosight Management LP’s holdings, making the stock its 12th biggest position. Prosight Management LP’s holdings in Rocket Pharmaceuticals were worth $13,685,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Quantinno Capital Management LP bought a new stake in Rocket Pharmaceuticals in the 4th quarter valued at $151,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Rocket Pharmaceuticals by 2.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 177,548 shares of the biotechnology company’s stock worth $2,228,000 after buying an additional 3,985 shares during the period. LMR Partners LLP bought a new position in Rocket Pharmaceuticals during the 4th quarter worth $943,000. Janus Henderson Group PLC increased its position in Rocket Pharmaceuticals by 111.0% during the 4th quarter. Janus Henderson Group PLC now owns 4,004,039 shares of the biotechnology company’s stock worth $50,343,000 after buying an additional 2,106,699 shares during the period. Finally, Deutsche Bank AG increased its position in Rocket Pharmaceuticals by 43.4% during the 4th quarter. Deutsche Bank AG now owns 63,778 shares of the biotechnology company’s stock worth $802,000 after buying an additional 19,310 shares during the period. Institutional investors own 98.39% of the company’s stock.

Rocket Pharmaceuticals Trading Down 8.5%

Shares of RCKT stock opened at $6.05 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05. Rocket Pharmaceuticals, Inc. has a fifty-two week low of $4.55 and a fifty-two week high of $26.98. The stock has a 50 day simple moving average of $7.00 and a two-hundred day simple moving average of $10.47. The company has a market cap of $646.06 million, a P/E ratio of -2.20 and a beta of 1.02.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its quarterly earnings data on Tuesday, May 13th. The biotechnology company reported ($0.56) EPS for the quarter, beating analysts’ consensus estimates of ($0.58) by $0.02. During the same period last year, the firm posted ($0.66) earnings per share. Research analysts forecast that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current year.

Insider Buying and Selling at Rocket Pharmaceuticals

In related news, CFO Aaron Ondrey sold 7,489 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $5.29, for a total transaction of $39,616.81. Following the transaction, the chief financial officer now owns 129,650 shares of the company’s stock, valued at $685,848.50. The trade was a 5.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Gaurav Shah bought 20,000 shares of the business’s stock in a transaction that occurred on Thursday, April 10th. The shares were bought at an average cost of $5.08 per share, for a total transaction of $101,600.00. Following the transaction, the chief executive officer now owns 792,680 shares of the company’s stock, valued at $4,026,814.40. The trade was a 2.59% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 28.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on RCKT shares. BMO Capital Markets started coverage on Rocket Pharmaceuticals in a research report on Wednesday, March 12th. They set an “outperform” rating and a $50.00 price objective on the stock. Chardan Capital reduced their price objective on Rocket Pharmaceuticals from $54.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Scotiabank dropped their target price on Rocket Pharmaceuticals from $52.00 to $51.00 and set a “sector outperform” rating for the company in a research report on Monday. JPMorgan Chase & Co. lowered their price objective on Rocket Pharmaceuticals from $45.00 to $44.00 and set an “overweight” rating for the company in a research report on Friday, May 9th. Finally, Needham & Company LLC restated a “buy” rating and set a $42.00 price objective on shares of Rocket Pharmaceuticals in a research report on Wednesday, April 9th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $40.82.

Rocket Pharmaceuticals Profile

Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a late-stage biotechnology company that focuses on developing gene therapies for rare and devastating diseases. It has three clinical-stage ex vivo lentiviral vector programs for fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells or promotes the production of faulty blood cells; leukocyte adhesion deficiency-I, a genetic disorder that causes the immune system to malfunction; and pyruvate kinase deficiency, a rare red blood cell autosomal recessive disorder that results in chronic non-spherocytic hemolytic anemia.