2,480,468 Shares in Rocket Pharmaceuticals, Inc. $RCKT Acquired by Monaco Asset Management SAM

Monaco Asset Management SAM acquired a new stake in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,480,468 shares of the biotechnology company’s stock, valued at approximately $8,483,000. Rocket Pharmaceuticals accounts for approximately 0.7% of Monaco Asset Management SAM’s investment portfolio, making the stock its 11th biggest position.

Several other large investors have also recently bought and sold shares of RCKT. Vanguard Group Inc. raised its holdings in Rocket Pharmaceuticals by 12.6% in the third quarter. Vanguard Group Inc. now owns 6,892,204 shares of the biotechnology company’s stock worth $22,469,000 after purchasing an additional 769,743 shares during the period. MPM Bioimpact LLC grew its holdings in shares of Rocket Pharmaceuticals by 141.2% in the 2nd quarter. MPM Bioimpact LLC now owns 3,903,081 shares of the biotechnology company’s stock valued at $9,563,000 after buying an additional 2,284,816 shares during the period. Millennium Management LLC grew its holdings in shares of Rocket Pharmaceuticals by 52.0% in the 3rd quarter. Millennium Management LLC now owns 3,570,391 shares of the biotechnology company’s stock valued at $11,639,000 after buying an additional 1,221,554 shares during the period. Maverick Capital Ltd. increased its position in shares of Rocket Pharmaceuticals by 42.0% in the 1st quarter. Maverick Capital Ltd. now owns 3,567,372 shares of the biotechnology company’s stock valued at $12,771,000 after buying an additional 1,054,262 shares in the last quarter. Finally, Newtyn Management LLC increased its position in shares of Rocket Pharmaceuticals by 25.1% in the 3rd quarter. Newtyn Management LLC now owns 2,502,863 shares of the biotechnology company’s stock valued at $8,159,000 after buying an additional 502,863 shares in the last quarter. Institutional investors own 98.39% of the company’s stock.

Rocket Pharmaceuticals Stock Performance

Shares of Rocket Pharmaceuticals stock opened at $3.47 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 9.24 and a quick ratio of 9.24. The firm has a market cap of $380.94 million, a price-to-earnings ratio of -20.41 and a beta of 0.47. The stock’s 50-day moving average is $3.38 and its 200-day moving average is $3.61. Rocket Pharmaceuticals, Inc. has a one year low of $2.53 and a one year high of $5.45.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings data on Monday, August 10th. The biotechnology company reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.22. During the same period in the prior year, the company earned ($0.62) EPS. Equities analysts predict that Rocket Pharmaceuticals, Inc. will post -1.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Gaurav Shah sold 55,684 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $3.09, for a total transaction of $172,063.56. Following the completion of the transaction, the chief executive officer directly owned 1,061,724 shares of the company’s stock, valued at $3,280,727.16. This trade represents a 4.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Christopher James Stevens sold 36,658 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $3.50, for a total transaction of $128,303.00. Following the transaction, the chief operating officer directly owned 505,784 shares of the company’s stock, valued at $1,770,244. This represents a 6.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 100,498 shares of company stock valued at $327,220. Insiders own 21.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wedbush reduced their target price on Rocket Pharmaceuticals from $16.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday, August 11th. Wall Street Zen upgraded Rocket Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday. Chardan Capital reaffirmed a “buy” rating and set a $11.00 price target on shares of Rocket Pharmaceuticals in a research report on Monday, May 11th. Finally, Weiss Ratings cut Rocket Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Rocket Pharmaceuticals presently has a consensus rating of “Hold” and an average target price of $8.57.

Rocket Pharmaceuticals Profile

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.