MPM Bioimpact LLC Trims Position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

MPM Bioimpact LLC lessened its stake in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 4.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,020,559 shares of the biotechnology company's stock after selling 45,814 shares during the quarter. Rocket Pharmaceuticals comprises about 1.8% of MPM Bioimpact LLC's investment portfolio, making the stock its 23rd biggest holding. MPM Bioimpact LLC owned 1.12% of Rocket Pharmaceuticals worth $12,828,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in RCKT. Wellington Management Group LLP boosted its holdings in shares of Rocket Pharmaceuticals by 24.5% in the fourth quarter. Wellington Management Group LLP now owns 13,995,177 shares of the biotechnology company's stock worth $175,919,000 after buying an additional 2,753,033 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Rocket Pharmaceuticals by 18.8% during the fourth quarter. Vanguard Group Inc. now owns 6,577,595 shares of the biotechnology company's stock valued at $82,680,000 after purchasing an additional 1,040,655 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in 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 purchasing an additional 2,106,699 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Rocket Pharmaceuticals by 8.4% during the fourth quarter. Geode Capital Management LLC now owns 1,752,975 shares of the biotechnology company's stock valued at $22,041,000 after purchasing an additional 135,109 shares in the last quarter. Finally, Boxer Capital Management LLC purchased a new position in Rocket Pharmaceuticals during the fourth quarter valued at approximately $18,428,000. Hedge funds and other institutional investors own 98.39% of the company's stock.

Rocket Pharmaceuticals Price Performance

RCKT traded down $0.22 during trading hours on Friday, hitting $6.50. The company's stock had a trading volume of 3,226,279 shares, compared to its average volume of 1,482,495. The business's 50-day moving average price is $6.93 and its 200-day moving average price is $10.32. Rocket Pharmaceuticals, Inc. has a 12 month low of $4.55 and a 12 month high of $26.98. The stock has a market cap of $694.11 million, a price-to-earnings ratio of -2.36 and a beta of 1.02. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The biotechnology company reported ($0.56) earnings per share for the quarter, topping the consensus estimate of ($0.58) by $0.02. During the same quarter in the prior year, the firm posted ($0.66) earnings per share. Sell-side analysts expect that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Gaurav Shah acquired 20,000 shares of the business's stock in a transaction on Thursday, April 10th. The shares were acquired at an average price of $5.08 per share, for a total transaction of $101,600.00. Following the completion of the transaction, the chief executive officer now directly owns 792,680 shares of the company's stock, valued at approximately $4,026,814.40. The trade was a 2.59% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Aaron Ondrey sold 7,489 shares of the business's stock in a transaction on Friday, April 4th. The shares were 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 in the company, valued at $685,848.50. This trade represents a 5.46% decrease in their position. The disclosure for this sale can be found here. 28.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. BMO Capital Markets assumed coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, March 12th. They set an "outperform" rating and a $50.00 price target on the stock. JPMorgan Chase & Co. lowered their price target on shares of Rocket Pharmaceuticals from $45.00 to $44.00 and set an "overweight" rating on the stock in a report on Friday, May 9th. Scotiabank lowered their price target on shares of Rocket Pharmaceuticals from $52.00 to $51.00 and set a "sector outperform" rating on the stock in a report on Monday, May 12th. Needham & Company LLC reaffirmed a "buy" rating and set a $42.00 price target on shares of Rocket Pharmaceuticals in a report on Wednesday, April 9th. Finally, Chardan Capital lifted their price objective on shares of Rocket Pharmaceuticals from $45.00 to $46.00 and gave the company a "buy" rating in a research report on Friday. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $37.73.

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.