Perceptive Advisors LLC raised its stake in Rocket Pharmaceuticals Inc (NASDAQ:RCKT) by 13.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,239,241 shares of the biotechnology company’s stock after purchasing an additional 261,829 shares during the period. Rocket Pharmaceuticals makes up approximately 1.0% of Perceptive Advisors LLC’s holdings, making the stock its 22nd biggest position. Perceptive Advisors LLC owned 4.45% of Rocket Pharmaceuticals worth $50,965,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Lord Abbett & CO. LLC raised its holdings in Rocket Pharmaceuticals by 140.3% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,020,534 shares of the biotechnology company’s stock valued at $23,228,000 after acquiring an additional 595,821 shares in the last quarter. Eventide Asset Management LLC increased its holdings in Rocket Pharmaceuticals by 42.3% in the 3rd quarter. Eventide Asset Management LLC now owns 1,415,000 shares of the biotechnology company’s stock valued at $16,485,000 after buying an additional 420,686 shares during the period. Farallon Capital Management LLC bought a new stake in Rocket Pharmaceuticals in the 4th quarter valued at $8,059,000. Blair William & Co. IL bought a new stake in Rocket Pharmaceuticals in the 4th quarter valued at $1,979,000. Finally, Jefferies Group LLC acquired a new position in shares of Rocket Pharmaceuticals in the 4th quarter valued at $1,099,000. Institutional investors own 94.35% of the company’s stock.
RCKT stock traded up $0.53 during trading on Thursday, hitting $15.50. The company had a trading volume of 391,252 shares, compared to its average volume of 427,540. The firm has a 50-day moving average price of $19.08 and a 200-day moving average price of $17.88. Rocket Pharmaceuticals Inc has a 12 month low of $9.01 and a 12 month high of $27.59. The company has a quick ratio of 16.81, a current ratio of 16.81 and a debt-to-equity ratio of 0.15. The stock has a market cap of $862.40 million, a price-to-earnings ratio of -9.81 and a beta of 2.65.
RCKT has been the topic of several recent research reports. William Blair reiterated a “buy” rating on shares of Rocket Pharmaceuticals in a research report on Thursday, March 5th. Robert W. Baird lifted their price objective on Rocket Pharmaceuticals from $30.00 to $41.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Chardan Capital reaffirmed a “buy” rating and set a $33.00 price objective on shares of Rocket Pharmaceuticals in a report on Wednesday, March 11th. Oppenheimer upped their price objective on Rocket Pharmaceuticals from $36.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, Zacks Investment Research raised Rocket Pharmaceuticals from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Wednesday, March 11th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Rocket Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $34.00.
Rocket Pharmaceuticals Company Profile
Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a multi-platform biotechnology company that focuses on developing gene therapies for rare and devastating pediatric diseases. It has clinical-stage lentiviral vector (LVV) programs under clinical testing to treat fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells or promotes the production of faulty blood cells; and leukocyte adhesion deficiency-I, a genetic disorder that causes the immune system to malfunction It also has additional pre-clinical stage LVV programs include pyruvate kinase deficiency, a rare red blood cell autosomal recessive disorder that results in chronic non-spherocytic hemolytic anemia; and infantile malignant osteopetrosis, a genetic disorder characterized by increased bone density and bone mass secondary to impaired bone resorption.
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