Perceptive Advisors LLC Sells 554,471 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Perceptive Advisors LLC lessened its holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 30.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,246,597 shares of the biotechnology company’s stock after selling 554,471 shares during the quarter. Perceptive Advisors LLC owned 1.37% of Rocket Pharmaceuticals worth $26,839,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of RCKT. Janus Henderson Group PLC lifted its position in Rocket Pharmaceuticals by 174.3% during the first quarter. Janus Henderson Group PLC now owns 2,606,016 shares of the biotechnology company’s stock worth $70,170,000 after purchasing an additional 1,656,111 shares during the period. Vanguard Group Inc. lifted its position in Rocket Pharmaceuticals by 18.3% during the fourth quarter. Vanguard Group Inc. now owns 5,447,565 shares of the biotechnology company’s stock worth $163,264,000 after purchasing an additional 843,552 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Rocket Pharmaceuticals by 11.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,943,160 shares of the biotechnology company’s stock worth $79,290,000 after purchasing an additional 314,086 shares during the period. First Turn Management LLC lifted its position in Rocket Pharmaceuticals by 123.6% during the second quarter. First Turn Management LLC now owns 560,989 shares of the biotechnology company’s stock worth $12,078,000 after purchasing an additional 310,119 shares during the period. Finally, Norges Bank bought a new stake in Rocket Pharmaceuticals during the fourth quarter worth about $7,293,000. Institutional investors own 98.39% of the company’s stock.

Analyst Ratings Changes

RCKT has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Canaccord Genuity Group dropped their target price on shares of Rocket Pharmaceuticals from $49.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. William Blair reissued an “outperform” rating on shares of Rocket Pharmaceuticals in a report on Monday, June 3rd. Needham & Company LLC reissued a “buy” rating and issued a $52.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, September 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.29.

Insider Buying and Selling at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, insider Mark Andrew White sold 3,026 shares of the 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 owns 72,220 shares of the company’s stock, valued at approximately $1,472,565.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 31.10% of the company’s stock.

Rocket Pharmaceuticals Stock Performance

Rocket Pharmaceuticals stock opened at $18.46 on Monday. The business has a 50 day moving average of $20.16 and a 200-day moving average of $22.15. Rocket Pharmaceuticals, Inc. has a 1 year low of $16.55 and a 1 year high of $32.53. The company has a debt-to-equity ratio of 0.05, a current ratio of 7.79 and a quick ratio of 7.79. The company has a market capitalization of $1.68 billion, a P/E ratio of -6.43 and a beta of 1.09.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its earnings results on Monday, August 5th. The biotechnology company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.02). During the same quarter last year, the business earned ($0.82) EPS. On average, equities research analysts predict that Rocket Pharmaceuticals, Inc. will post -2.97 earnings per share for the current year.

Rocket Pharmaceuticals 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.