Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Shares Sold by Logos Global Management LP

Logos Global Management LP decreased its position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 73.1% during the second quarter, Holdings Channel.com reports. The firm owned 350,000 shares of the biotechnology company’s stock after selling 950,000 shares during the period. Logos Global Management LP’s holdings in Rocket Pharmaceuticals were worth $7,536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in Rocket Pharmaceuticals by 12.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 525,452 shares of the biotechnology company’s stock valued at $15,748,000 after acquiring an additional 57,246 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Rocket Pharmaceuticals by 3.8% during the 4th quarter. Principal Financial Group Inc. now owns 17,963 shares of the biotechnology company’s stock worth $538,000 after acquiring an additional 661 shares during the period. Norges Bank purchased a new position in shares of Rocket Pharmaceuticals during the 4th quarter worth $7,293,000. Franklin Resources Inc. raised its holdings in shares of Rocket Pharmaceuticals by 60.8% during the 4th quarter. Franklin Resources Inc. now owns 1,072,910 shares of the biotechnology company’s stock worth $32,155,000 after acquiring an additional 405,855 shares during the period. Finally, TD Asset Management Inc raised its holdings in shares of Rocket Pharmaceuticals by 38.2% during the 4th quarter. TD Asset Management Inc now owns 154,864 shares of the biotechnology company’s stock worth $4,641,000 after acquiring an additional 42,834 shares during the period. Institutional investors and hedge funds own 98.39% of the company’s stock.

Insider Transactions at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, insider Mark Andrew White sold 3,026 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $20.39, for a total value of $61,700.14. Following the transaction, the insider now directly owns 72,220 shares of the company’s stock, valued at approximately $1,472,565.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 31.10% of the company’s stock.

Rocket Pharmaceuticals Trading Down 1.9 %

NASDAQ:RCKT opened at $19.78 on Tuesday. The stock has a fifty day simple moving average of $20.56 and a 200-day simple moving average of $22.42. Rocket Pharmaceuticals, Inc. has a 52-week low of $16.55 and a 52-week high of $32.53. The company has a market capitalization of $1.80 billion, a PE ratio of -6.89 and a beta of 1.09. The company has a quick ratio of 7.79, a current ratio of 7.79 and a debt-to-equity ratio of 0.05.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted 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 quarter in the prior year, the business earned ($0.82) EPS. On average, equities research analysts expect that Rocket Pharmaceuticals, Inc. will post -2.97 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RCKT. Chardan Capital restated a “buy” rating and issued a $62.00 price objective on shares of Rocket Pharmaceuticals in a report on Tuesday, August 6th. JPMorgan Chase & Co. boosted their price objective on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, August 6th. Canaccord Genuity Group dropped their target price on Rocket Pharmaceuticals from $49.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Finally, William Blair reaffirmed an “outperform” rating on shares of Rocket Pharmaceuticals in a research report on Monday, June 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $52.29.

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.