Janus Henderson Group PLC Acquires 2,106,699 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Janus Henderson Group PLC boosted its holdings in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 111.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,004,039 shares of the biotechnology company's stock after acquiring an additional 2,106,699 shares during the quarter. Janus Henderson Group PLC owned approximately 4.39% of Rocket Pharmaceuticals worth $50,343,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RCKT. SG Americas Securities LLC raised its position in shares of Rocket Pharmaceuticals by 796.2% in the fourth quarter. SG Americas Securities LLC now owns 54,921 shares of the biotechnology company's stock valued at $690,000 after purchasing an additional 48,793 shares during the period. Jennison Associates LLC boosted its stake in Rocket Pharmaceuticals by 72.6% during the fourth quarter. Jennison Associates LLC now owns 70,304 shares of the biotechnology company's stock worth $884,000 after buying an additional 29,564 shares in the last quarter. Mirador Capital Partners LP lifted its holdings in shares of Rocket Pharmaceuticals by 403.9% during the fourth quarter. Mirador Capital Partners LP now owns 84,529 shares of the biotechnology company's stock valued at $1,063,000 after acquiring an additional 67,755 shares during the period. Sovran Advisors LLC bought a new position in shares of Rocket Pharmaceuticals during the fourth quarter valued at $1,895,000. Finally, Raymond James Financial Inc. bought a new position in shares of Rocket Pharmaceuticals during the fourth quarter valued at $285,000. Institutional investors own 98.39% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RCKT. Cantor Fitzgerald lifted their price target on Rocket Pharmaceuticals from $20.00 to $30.00 and gave the company an "overweight" rating in a report on Friday. Wedbush restated an "outperform" rating and set a $32.00 target price on shares of Rocket Pharmaceuticals in a research report on Friday. Canaccord Genuity Group decreased their target price on Rocket Pharmaceuticals from $36.00 to $34.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Needham & Company LLC reiterated a "buy" rating and issued a $42.00 price objective on shares of Rocket Pharmaceuticals in a research report on Wednesday, April 9th. Finally, BMO Capital Markets began coverage on Rocket Pharmaceuticals in a research report on Wednesday, March 12th. They set an "outperform" rating and a $50.00 price target for the company. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $37.73.

Rocket Pharmaceuticals Stock Performance

NASDAQ RCKT traded down $0.22 on Friday, reaching $6.50. The stock had a trading volume of 3,226,279 shares, compared to its average volume of 1,482,495. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05. The firm has a fifty day moving average of $6.93 and a two-hundred day moving average of $10.32. Rocket Pharmaceuticals, Inc. has a 1-year low of $4.55 and a 1-year high of $26.98. The company has a market cap of $694.11 million, a P/E ratio of -2.36 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 period last year, the business earned ($0.66) EPS. On average, equities research analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current year.

Insider Buying and Selling at Rocket Pharmaceuticals

In related news, insider Kinnari Patel acquired 21,099 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly owns 26,774 shares of the company's stock, valued at $125,837.80. The trade was a 371.79% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Aaron Ondrey sold 7,489 shares of the firm's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $5.29, for a total value 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. This trade represents a 5.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 28.50% of the company's stock.

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.