Assenagon Asset Management S.A. Sells 174,515 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Assenagon Asset Management S.A. lowered its position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 19.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 702,625 shares of the biotechnology company's stock after selling 174,515 shares during the period. Assenagon Asset Management S.A. owned 0.78% of Rocket Pharmaceuticals worth $21,058,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Comerica Bank bought a new position in Rocket Pharmaceuticals in the 3rd quarter valued at about $9,017,000. Bamco Inc. NY grew its position in Rocket Pharmaceuticals by 25.5% in the 3rd quarter. Bamco Inc. NY now owns 1,108,017 shares of the biotechnology company's stock valued at $22,703,000 after buying an additional 225,231 shares in the last quarter. Wellington Management Group LLP grew its position in Rocket Pharmaceuticals by 56.0% in the 3rd quarter. Wellington Management Group LLP now owns 8,022,830 shares of the biotechnology company's stock valued at $164,388,000 after buying an additional 2,880,373 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Rocket Pharmaceuticals by 7.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 468,206 shares of the biotechnology company's stock valued at $9,594,000 after buying an additional 32,836 shares in the last quarter. Finally, Rathbones Group PLC bought a new position in Rocket Pharmaceuticals in the 3rd quarter valued at about $615,000. Institutional investors own 98.39% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on RCKT shares. JPMorgan Chase & Co. cut their price target on shares of Rocket Pharmaceuticals from $55.00 to $50.00 and set an "overweight" rating for the company in a report on Tuesday, February 27th. Cantor Fitzgerald reissued an "overweight" rating and issued a $65.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, February 27th. StockNews.com raised shares of Rocket Pharmaceuticals to a "sell" rating in a report on Friday, February 9th. Lifesci Capital reissued an "outperform" rating on shares of Rocket Pharmaceuticals in a report on Tuesday, December 26th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $53.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $54.00.

Rocket Pharmaceuticals Trading Down 1.1 %

RCKT stock traded down $0.31 during mid-day trading on Thursday, reaching $26.94. 498,831 shares of the stock traded hands, compared to its average volume of 730,356. The company has a current ratio of 7.80, a quick ratio of 7.80 and a debt-to-equity ratio of 0.04. Rocket Pharmaceuticals, Inc. has a 52-week low of $14.89 and a 52-week high of $32.53. The company has a market cap of $2.44 billion, a P/E ratio of -9.16 and a beta of 1.08. The stock's fifty day moving average is $28.41 and its 200-day moving average is $24.83.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last posted its quarterly earnings data on Monday, February 26th. The biotechnology company reported ($0.64) EPS for the quarter, beating analysts' consensus estimates of ($0.78) by $0.14. During the same quarter in the previous year, the business earned ($0.92) EPS. As a group, sell-side analysts expect that Rocket Pharmaceuticals, Inc. will post -2.94 earnings per share for the current year.

Insider Buying and Selling

In related news, General Counsel Martin Wilson sold 3,576 shares of the firm's stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $29.84, for a total transaction of $106,707.84. Following the completion of the sale, the general counsel now directly owns 6,136 shares in the company, valued at $183,098.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Kinnari Patel sold 7,132 shares of the firm's stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $29.84, for a total transaction of $212,818.88. Following the transaction, the insider now owns 238,346 shares of the company's stock, valued at $7,112,244.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Martin Wilson sold 3,576 shares of the firm's stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $29.84, for a total transaction of $106,707.84. Following the transaction, the general counsel now directly owns 6,136 shares in the company, valued at approximately $183,098.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 322,208 shares of company stock worth $9,220,239. 31.10% of the stock is owned by company insiders.

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.