Jennison Associates LLC Raises Stock Position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Jennison Associates LLC lifted its position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 72.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,304 shares of the biotechnology company’s stock after acquiring an additional 29,564 shares during the quarter. Jennison Associates LLC’s holdings in Rocket Pharmaceuticals were worth $884,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of RCKT. Mirae Asset Global Investments Co. Ltd. grew its stake in Rocket Pharmaceuticals by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock valued at $61,000 after acquiring an additional 582 shares during the last quarter. KBC Group NV lifted its holdings in shares of Rocket Pharmaceuticals by 159.6% in the fourth quarter. KBC Group NV now owns 5,475 shares of the biotechnology company’s stock valued at $69,000 after purchasing an additional 3,366 shares in the last quarter. Values First Advisors Inc. acquired a new stake in shares of Rocket Pharmaceuticals in the third quarter valued at approximately $108,000. SG Americas Securities LLC purchased a new position in shares of Rocket Pharmaceuticals during the 3rd quarter worth approximately $113,000. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of Rocket Pharmaceuticals by 10.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 19,329 shares of the biotechnology company’s stock worth $243,000 after purchasing an additional 1,824 shares during the last quarter. Institutional investors and hedge funds own 98.39% of the company’s stock.

Wall Street Analysts Forecast Growth

RCKT has been the topic of several recent research reports. Chardan Capital restated a “buy” rating and issued a $62.00 price objective on shares of Rocket Pharmaceuticals in a research report on Monday, November 18th. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Leerink Partners dropped their price objective on Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating for the company in a research report on Tuesday, November 19th. Jefferies Financial Group started coverage on Rocket Pharmaceuticals in a research report on Wednesday, December 18th. They set a “buy” rating and a $29.00 price objective for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $52.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $47.27.

Insider Activity

In other news, CEO Gaurav Shah sold 11,091 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $13.05, for a total transaction of $144,737.55. Following the completion of the sale, the chief executive officer now directly owns 707,328 shares of the company’s stock, valued at $9,230,630.40. This represents a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 14,386 shares of company stock valued at $185,345 over the last three months. Insiders own 28.50% of the company’s stock.

Rocket Pharmaceuticals Trading Down 5.2 %

Shares of RCKT stock opened at $10.65 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05. Rocket Pharmaceuticals, Inc. has a 1 year low of $10.07 and a 1 year high of $31.47. The stock has a fifty day moving average of $11.79 and a two-hundred day moving average of $16.08. The firm has a market capitalization of $970.82 million, a PE ratio of -3.87 and a beta of 0.98.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.71) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.07. As a group, research analysts expect that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current year.

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.