Assenagon Asset Management S.A. Sells 174,515 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Assenagon Asset Management S.A. reduced its position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 19.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 702,625 shares of the biotechnology company’s stock after selling 174,515 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.78% of Rocket Pharmaceuticals worth $21,058,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in shares of Rocket Pharmaceuticals by 56.0% in the 3rd quarter. Wellington Management Group LLP now owns 8,022,830 shares of the biotechnology company’s stock worth $164,388,000 after buying an additional 2,880,373 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Rocket Pharmaceuticals by 133.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,551,774 shares of the biotechnology company’s stock worth $24,612,000 after buying an additional 886,919 shares during the period. Maverick Capital Ltd. grew its position in shares of Rocket Pharmaceuticals by 34.1% in the 4th quarter. Maverick Capital Ltd. now owns 3,395,818 shares of the biotechnology company’s stock worth $66,456,000 after buying an additional 863,452 shares during the period. State Street Corp grew its position in shares of Rocket Pharmaceuticals by 33.8% in the 3rd quarter. State Street Corp now owns 3,392,333 shares of the biotechnology company’s stock worth $54,142,000 after buying an additional 856,076 shares during the period. Finally, Westfield Capital Management Co. LP grew its position in shares of Rocket Pharmaceuticals by 14.7% in the 3rd quarter. Westfield Capital Management Co. LP now owns 4,193,996 shares of the biotechnology company’s stock worth $85,935,000 after buying an additional 538,209 shares during the period. 98.39% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Rocket Pharmaceuticals news, insider John Militello sold 2,490 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $28.10, for a total transaction of $69,969.00. Following the completion of the sale, the insider now directly owns 55,239 shares of the company’s stock, valued at approximately $1,552,215.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Rocket Pharmaceuticals news, insider Kinnari Patel sold 7,132 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $29.84, for a total transaction of $212,818.88. Following the completion of the sale, the insider now directly owns 238,346 shares of the company’s stock, valued at approximately $7,112,244.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Militello sold 2,490 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $28.10, for a total transaction of $69,969.00. Following the completion of the transaction, the insider now directly owns 55,239 shares of the company’s stock, valued at $1,552,215.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 322,208 shares of company stock worth $9,220,239. Company insiders own 31.10% of the company’s stock.

Rocket Pharmaceuticals Price Performance

NASDAQ RCKT opened at $27.25 on Thursday. Rocket Pharmaceuticals, Inc. has a 12 month low of $14.89 and a 12 month high of $32.53. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of -9.27 and a beta of 1.08. The company’s 50 day moving average is $28.40 and its two-hundred day moving average is $24.82. The company has a current ratio of 7.80, a quick ratio of 7.80 and a debt-to-equity ratio of 0.04.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its earnings results on Monday, February 26th. The biotechnology company reported ($0.64) EPS for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.14. During the same quarter in the prior year, the firm posted ($0.92) EPS. As a group, research analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.94 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on RCKT. Lifesci Capital reissued an “outperform” rating on shares of Rocket Pharmaceuticals in a research report on Tuesday, December 26th. Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, February 27th. StockNews.com upgraded shares of Rocket Pharmaceuticals to a “sell” rating in a research note on Friday, February 9th. Needham & Company LLC restated a “buy” rating and set a $53.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, February 13th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Rocket Pharmaceuticals from $55.00 to $50.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.00.

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.