Renaissance Technologies LLC Acquires New Shares in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Renaissance Technologies LLC purchased a new position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 99,574 shares of the biotechnology company’s stock, valued at approximately $2,144,000. Renaissance Technologies LLC owned approximately 0.11% of Rocket Pharmaceuticals as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its holdings in Rocket Pharmaceuticals by 12.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 594,665 shares of the biotechnology company’s stock valued at $17,822,000 after buying an additional 64,946 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Rocket Pharmaceuticals by 4.1% during the 1st quarter. Russell Investments Group Ltd. now owns 675,769 shares of the biotechnology company’s stock worth $18,205,000 after purchasing an additional 26,823 shares in the last quarter. Avidity Partners Management LP increased its stake in shares of Rocket Pharmaceuticals by 8.3% during the 4th quarter. Avidity Partners Management LP now owns 1,719,103 shares of the biotechnology company’s stock worth $51,522,000 after purchasing an additional 131,674 shares in the last quarter. Virtu Financial LLC purchased a new stake in Rocket Pharmaceuticals in the 4th quarter worth approximately $332,000. Finally, Hennion & Walsh Asset Management Inc. grew its stake in Rocket Pharmaceuticals by 19.6% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 231,287 shares of the biotechnology company’s stock worth $6,231,000 after acquiring an additional 37,937 shares during the period. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Rocket Pharmaceuticals

In related news, insider Mark Andrew White sold 3,026 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were 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 in the company, valued at approximately $1,472,565.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 31.10% of the stock is currently owned by company insiders.

Rocket Pharmaceuticals Stock Down 0.9 %

RCKT stock opened at $16.96 on Thursday. Rocket Pharmaceuticals, Inc. has a 12 month low of $16.21 and a 12 month high of $32.53. The firm has a market cap of $1.54 billion, a PE ratio of -5.91 and a beta of 1.09. The firm has a 50 day simple moving average of $19.89 and a 200 day simple moving average of $22.02. The company has a debt-to-equity ratio of 0.05, a current ratio of 7.79 and a quick ratio of 7.79.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its quarterly earnings data on Monday, August 5th. The biotechnology company reported ($0.74) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.02). During the same quarter in the previous year, the business posted ($0.82) EPS. Equities research analysts forecast that Rocket Pharmaceuticals, Inc. will post -2.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

RCKT has been the subject of several research reports. Needham & Company LLC reissued a “buy” rating and set a $52.00 price objective on shares of Rocket Pharmaceuticals in a research note on Tuesday, September 17th. Chardan Capital restated a “buy” rating and issued a $62.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, August 6th. Canaccord Genuity Group restated a “buy” rating and issued a $38.00 target price on shares of Rocket Pharmaceuticals in a research note on Monday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. upped their target price 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. 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.com, Rocket Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.00.

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.