Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Shares Sold by Millennium Management LLC

Millennium Management LLC lowered its holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 72.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 336,909 shares of the biotechnology company's stock after selling 865,586 shares during the period. Millennium Management LLC owned about 0.37% of Rocket Pharmaceuticals worth $4,235,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Rocket Pharmaceuticals by 2.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 177,548 shares of the biotechnology company's stock worth $2,228,000 after purchasing an additional 3,985 shares during the period. LMR Partners LLP acquired a new position in Rocket Pharmaceuticals during the 4th quarter worth $943,000. Janus Henderson Group PLC raised its position in shares of Rocket Pharmaceuticals by 111.0% during the fourth quarter. Janus Henderson Group PLC now owns 4,004,039 shares of the biotechnology company's stock valued at $50,343,000 after buying an additional 2,106,699 shares during the last quarter. Deutsche Bank AG raised its position in shares of Rocket Pharmaceuticals by 43.4% during the fourth quarter. Deutsche Bank AG now owns 63,778 shares of the biotechnology company's stock valued at $802,000 after buying an additional 19,310 shares during the last quarter. Finally, Cornerstone Select Advisors LLC bought a new stake in Rocket Pharmaceuticals in the fourth quarter valued at about $239,000. 98.39% of the stock is owned by hedge funds and other institutional investors.

Rocket Pharmaceuticals Price Performance

Shares of NASDAQ:RCKT traded up $0.19 during midday trading on Tuesday, reaching $2.96. 7,824,691 shares of the company were exchanged, compared to its average volume of 1,934,495. Rocket Pharmaceuticals, Inc. has a one year low of $2.19 and a one year high of $26.98. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06. The business's fifty day moving average is $6.01 and its two-hundred day moving average is $9.29. The stock has a market cap of $316.09 million, a PE ratio of -1.08 and a beta of 1.02.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last released its earnings results on Tuesday, May 13th. The biotechnology company reported ($0.56) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.58) by $0.02. During the same quarter in the prior year, the business posted ($0.66) earnings per share. As a group, analysts predict that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Kinnari Patel bought 21,099 shares of the stock in a transaction that occurred on Wednesday, April 9th. The stock was bought at an average cost of $4.70 per share, for a total transaction of $99,165.30. Following the purchase, the insider now directly owns 26,774 shares of the company's stock, valued at approximately $125,837.80. This trade represents a 371.79% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Gaurav Shah bought 20,000 shares of the stock in a transaction that occurred on Thursday, April 10th. The stock was bought at an average price of $5.08 per share, with a total value of $101,600.00. Following the completion of the purchase, the chief executive officer now directly owns 792,680 shares in the company, valued at $4,026,814.40. This represents a 2.59% increase in their ownership of the stock. The disclosure for this purchase can be found here. 24.76% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on RCKT shares. BMO Capital Markets decreased their price objective on shares of Rocket Pharmaceuticals from $30.00 to $8.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 28th. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Rocket Pharmaceuticals in a report on Wednesday, May 28th. Leerink Partnrs lowered shares of Rocket Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 27th. Jefferies Financial Group reissued a "hold" rating on shares of Rocket Pharmaceuticals in a research report on Wednesday, May 28th. Finally, The Goldman Sachs Group downgraded shares of Rocket Pharmaceuticals from a "neutral" rating to a "sell" rating in a research report on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, Rocket Pharmaceuticals presently has an average rating of "Hold" and a consensus target price of $19.57.

Rocket Pharmaceuticals Company 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.