Maverick Capital Ltd. Has $84.58 Million Position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Maverick Capital Ltd. boosted its position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 1.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,928,312 shares of the biotechnology company’s stock after buying an additional 40,000 shares during the quarter. Rocket Pharmaceuticals makes up about 1.6% of Maverick Capital Ltd.’s portfolio, making the stock its 21st biggest position. Maverick Capital Ltd.’s holdings in Rocket Pharmaceuticals were worth $84,577,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its stake in shares of Rocket Pharmaceuticals by 31.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock worth $68,000 after acquiring an additional 764 shares in the last quarter. Old Well Partners LLC acquired a new position in Rocket Pharmaceuticals during the fourth quarter worth $200,000. Capstone Investment Advisors LLC bought a new position in Rocket Pharmaceuticals in the fourth quarter valued at $217,000. Virtu Financial LLC acquired a new stake in Rocket Pharmaceuticals in the 4th quarter valued at $332,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Rocket Pharmaceuticals by 30.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,092 shares of the biotechnology company’s stock worth $368,000 after buying an additional 3,995 shares in the last quarter. Institutional investors own 98.39% of the company’s stock.

Rocket Pharmaceuticals Stock Performance

Shares of NASDAQ RCKT opened at $17.60 on Friday. The company has a current ratio of 7.79, a quick ratio of 7.79 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $1.60 billion, a P/E ratio of -6.13 and a beta of 1.09. Rocket Pharmaceuticals, Inc. has a 12 month low of $16.55 and a 12 month high of $32.53. The stock has a 50 day moving average of $20.24 and a 200-day moving average of $22.29.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its quarterly earnings data on Monday, August 5th. The biotechnology company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.02). During the same period in the previous year, the company earned ($0.82) EPS. As a group, equities research analysts predict that Rocket Pharmaceuticals, Inc. will post -2.97 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. William Blair restated an “outperform” rating on shares of Rocket Pharmaceuticals in a report on Monday, June 3rd. Chardan Capital restated a “buy” rating and issued a $62.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, August 6th. Needham & Company LLC reiterated a “buy” rating and set a $52.00 price objective on shares of Rocket Pharmaceuticals in a research note on Tuesday, September 17th. Canaccord Genuity Group cut their price objective on Rocket Pharmaceuticals from $49.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $65.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Rocket Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $52.29.

Insider Buying and Selling

In other Rocket Pharmaceuticals news, insider Mark Andrew White sold 3,026 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $20.39, for a total transaction of $61,700.14. Following the completion of the sale, the insider now directly owns 72,220 shares in the company, valued at $1,472,565.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 31.10% of the stock is currently owned by 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.