Frazier Life Sciences Management L.P. Has $7.20 Million Stock Position in Rocket Pharmaceuticals, Inc. $RCKT

Key Points

• Frazier Life Sciences Management L.P. reduced its stake in Rocket Pharmaceuticals by 27%, selling 400,000 shares, and now holds approximately 1.01% of the company valued at $7.2 million.
• Insider Jonathan David Schwartz sold 11,161 shares of Rocket Pharmaceuticals at an average price of $3.02, reflecting a 4.74% decrease in his holdings.
• Rocket Pharmaceuticals has received varying ratings from analysts, with a consensus rating of "Hold" and an average price target of $16.73.

Frazier Life Sciences Management L.P. lowered its holdings in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 27.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,079,025 shares of the biotechnology company's stock after selling 400,000 shares during the period. Frazier Life Sciences Management L.P. owned 1.01% of Rocket Pharmaceuticals worth $7,197,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. California State Teachers Retirement System grew its holdings in Rocket Pharmaceuticals by 5.5% during the fourth quarter. California State Teachers Retirement System now owns 63,637 shares of the biotechnology company's stock worth $800,000 after purchasing an additional 3,344 shares during the period. Two Sigma Investments LP grew its holdings in Rocket Pharmaceuticals by 88.6% during the fourth quarter. Two Sigma Investments LP now owns 41,142 shares of the biotechnology company's stock worth $517,000 after purchasing an additional 19,326 shares during the period. Rhumbline Advisers grew its holdings in Rocket Pharmaceuticals by 8.4% during the first quarter. Rhumbline Advisers now owns 107,638 shares of the biotechnology company's stock worth $718,000 after purchasing an additional 8,299 shares during the period. Raymond James Financial Inc. bought a new position in Rocket Pharmaceuticals during the fourth quarter worth about $285,000. Finally, Northern Trust Corp grew its holdings in Rocket Pharmaceuticals by 14.2% during the fourth quarter. Northern Trust Corp now owns 663,152 shares of the biotechnology company's stock worth $8,336,000 after purchasing an additional 82,316 shares during the period. Institutional investors own 98.39% of the company's stock.

Insider Buying and Selling at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, General Counsel Martin Wilson sold 12,109 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $3.02, for a total transaction of $36,569.18. Following the completion of the transaction, the general counsel directly owned 137,054 shares in the company, valued at $413,903.08. The trade was a 8.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan David Schwartz sold 11,161 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $3.02, for a total transaction of $33,706.22. Following the transaction, the insider owned 224,094 shares of the company's stock, valued at approximately $676,763.88. This represents a 4.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,927 shares of company stock worth $111,413 over the last three months. Corporate insiders own 24.76% of the company's stock.

Analyst Ratings Changes

RCKT has been the subject of a number of research analyst reports. BMO Capital Markets reduced their price target on Rocket Pharmaceuticals from $30.00 to $8.00 and set an "outperform" rating for the company in a report on Wednesday, May 28th. Evercore ISI cut Rocket Pharmaceuticals from an "outperform" rating to an "in-line" rating and set a $5.00 price objective for the company. in a report on Friday, May 30th. Needham & Company LLC restated a "hold" rating on shares of Rocket Pharmaceuticals in a report on Thursday, July 24th. Cantor Fitzgerald reduced their price objective on Rocket Pharmaceuticals from $10.00 to $8.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Finally, Wedbush restated an "outperform" rating and set a $32.00 price objective on shares of Rocket Pharmaceuticals in a report on Friday, May 16th. Eight analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $16.73.

Rocket Pharmaceuticals Price Performance

Shares of NASDAQ RCKT traded down $0.09 during midday trading on Thursday, reaching $3.23. The company's stock had a trading volume of 1,612,642 shares, compared to its average volume of 5,845,725. The company has a debt-to-equity ratio of 0.05, a quick ratio of 6.39 and a current ratio of 6.39. Rocket Pharmaceuticals, Inc. has a fifty-two week low of $2.19 and a fifty-two week high of $22.01. The business's 50 day moving average price is $3.10 and its two-hundred day moving average price is $5.22. The company has a market cap of $348.52 million, a P/E ratio of -1.29 and a beta of 0.62.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($0.59) earnings per share for the quarter, missing analysts' consensus estimates of ($0.57) by ($0.02). During the same quarter in the prior year, the business posted ($0.74) EPS. On average, analysts forecast that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current fiscal year.

About Rocket Pharmaceuticals

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.