Prosight Management LP Boosts Stock Holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Prosight Management LP raised its holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 583.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,088,706 shares of the biotechnology company's stock after buying an additional 929,337 shares during the period. Rocket Pharmaceuticals makes up approximately 3.8% of Prosight Management LP's portfolio, making the stock its 12th largest position. Prosight Management LP owned 1.19% of Rocket Pharmaceuticals worth $13,685,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Quantinno Capital Management LP purchased a new position in Rocket Pharmaceuticals in the 4th quarter valued at approximately $151,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Rocket Pharmaceuticals by 2.3% during the 4th 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 last quarter. LMR Partners LLP purchased a new stake in shares of Rocket Pharmaceuticals during the 4th quarter worth $943,000. Janus Henderson Group PLC lifted its position in shares of Rocket Pharmaceuticals by 111.0% during the 4th quarter. Janus Henderson Group PLC now owns 4,004,039 shares of the biotechnology company's stock worth $50,343,000 after purchasing an additional 2,106,699 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in shares of Rocket Pharmaceuticals by 43.4% during the 4th quarter. Deutsche Bank AG now owns 63,778 shares of the biotechnology company's stock worth $802,000 after purchasing an additional 19,310 shares during the last quarter. Hedge funds and other institutional investors own 98.39% of the company's stock.

Rocket Pharmaceuticals Price Performance

Shares of RCKT stock 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 1,486,180. The business has a fifty day moving average of $6.93 and a 200-day moving average of $10.28. The stock has a market cap of $694.11 million, a price-to-earnings ratio of -2.36 and a beta of 1.02. Rocket Pharmaceuticals, Inc. has a twelve month low of $4.55 and a twelve month 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.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The biotechnology company reported ($0.56) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.02. During the same quarter in the previous year, the company posted ($0.66) EPS. As a group, equities research analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Scotiabank decreased their price objective on shares of Rocket Pharmaceuticals from $52.00 to $51.00 and set a "sector outperform" rating for the company in a research report on Monday, May 12th. Needham & Company LLC reissued a "buy" rating and issued a $42.00 price target on shares of Rocket Pharmaceuticals in a research report on Wednesday, April 9th. The Goldman Sachs Group reduced their price target on shares of Rocket Pharmaceuticals from $15.00 to $13.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. JPMorgan Chase & Co. dropped their price objective on shares of Rocket Pharmaceuticals from $45.00 to $44.00 and set an "overweight" rating on the stock in a research note on Friday, May 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 note on Friday. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $37.73.

Insider Activity at Rocket Pharmaceuticals

In related news, CFO Aaron Ondrey sold 7,489 shares of the company's stock in a transaction that occurred 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 of the company's stock, valued at approximately $685,848.50. This represents a 5.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Gaurav Shah acquired 20,000 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Thursday, April 10th. The shares were purchased at an average cost of $5.08 per share, for a total transaction of $101,600.00. Following the purchase, the chief executive officer now directly owns 792,680 shares of the company's stock, valued at approximately $4,026,814.40. This trade represents a 2.59% increase in their position. The disclosure for this purchase can be found here. Insiders own 24.76% of the company's stock.

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.