Rocket Pharmaceuticals, Inc. $RCKT Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its holdings in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 51.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 637,174 shares of the biotechnology company’s stock after purchasing an additional 216,000 shares during the quarter. Renaissance Technologies LLC owned approximately 0.58% of Rocket Pharmaceuticals worth $2,281,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in RCKT. AQR Capital Management LLC lifted its position in shares of Rocket Pharmaceuticals by 148.4% during the 1st quarter. AQR Capital Management LLC now owns 163,622 shares of the biotechnology company’s stock valued at $1,091,000 after buying an additional 97,758 shares in the last quarter. Millennium Management LLC increased its holdings in Rocket Pharmaceuticals by 121.8% in the 1st quarter. Millennium Management LLC now owns 747,147 shares of the biotechnology company’s stock worth $4,983,000 after acquiring an additional 410,238 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Rocket Pharmaceuticals during the first quarter worth $189,000. Goldman Sachs Group Inc. lifted its holdings in Rocket Pharmaceuticals by 24.0% during the first quarter. Goldman Sachs Group Inc. now owns 995,690 shares of the biotechnology company’s stock valued at $6,641,000 after purchasing an additional 192,905 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Rocket Pharmaceuticals by 1.8% during the second quarter. Geode Capital Management LLC now owns 2,030,891 shares of the biotechnology company’s stock valued at $4,976,000 after purchasing an additional 36,847 shares in the last quarter. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Rocket Pharmaceuticals

In other news, CEO Gaurav Shah sold 55,684 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $3.09, for a total transaction of $172,063.56. Following the transaction, the chief executive officer owned 1,061,724 shares of the company’s stock, valued at approximately $3,280,727.16. The trade was a 4.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders have sold 66,083 shares of company stock worth $207,531. Insiders own 21.30% of the company’s stock.

Rocket Pharmaceuticals Stock Performance

NASDAQ RCKT opened at $3.64 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 6.12 and a current ratio of 6.12. The stock’s fifty day moving average is $3.34 and its two-hundred day moving average is $3.61. The firm has a market capitalization of $397.45 million, a P/E ratio of -1.95 and a beta of 0.47. Rocket Pharmaceuticals, Inc. has a fifty-two week low of $2.53 and a fifty-two week high of $5.45.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Chardan Capital restated a “buy” rating and set a $11.00 price target on shares of Rocket Pharmaceuticals in a research report on Monday, May 11th. Weiss Ratings upgraded Rocket Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 15th. Finally, Wall Street Zen cut Rocket Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $8.71.

About Rocket Pharmaceuticals

Rocket Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing gene therapies for rare, inherited pediatric diseases. The company employs a proprietary adeno-associated virus (AAV) and lentiviral vector platform to deliver functional copies of genes in patients with genetic deficiencies. Its programs target a spectrum of disorders, including Fanconi anemia, leukocyte adhesion deficiency type I and Danon disease, with the goal of delivering one-time treatments that address the underlying causes of disease rather than merely managing symptoms.

The company’s pipeline comprises multiple product candidates in various stages of development.