Jennison Associates LLC Acquires 29,564 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Jennison Associates LLC raised its holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 72.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 70,304 shares of the biotechnology company’s stock after acquiring an additional 29,564 shares during the quarter. Jennison Associates LLC owned approximately 0.08% of Rocket Pharmaceuticals worth $884,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. SG Americas Securities LLC lifted its holdings in shares of Rocket Pharmaceuticals by 796.2% in the 4th quarter. SG Americas Securities LLC now owns 54,921 shares of the biotechnology company’s stock worth $690,000 after buying an additional 48,793 shares during the period. Mirador Capital Partners LP lifted its holdings in shares of Rocket Pharmaceuticals by 403.9% in the 4th quarter. Mirador Capital Partners LP now owns 84,529 shares of the biotechnology company’s stock worth $1,063,000 after buying an additional 67,755 shares during the period. First Turn Management LLC lifted its holdings in shares of Rocket Pharmaceuticals by 10.8% in the 3rd quarter. First Turn Management LLC now owns 621,306 shares of the biotechnology company’s stock worth $11,476,000 after buying an additional 60,317 shares during the period. Walleye Capital LLC purchased a new stake in shares of Rocket Pharmaceuticals in the 3rd quarter worth $2,556,000. Finally, Westfield Capital Management Co. LP lifted its stake in shares of Rocket Pharmaceuticals by 3.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 4,493,833 shares of the biotechnology company’s stock worth $83,001,000 after purchasing an additional 165,911 shares during the last quarter. Institutional investors own 98.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RCKT. Wedbush began coverage on Rocket Pharmaceuticals in a research note on Monday, December 30th. They set an “outperform” rating and a $32.00 price objective for the company. Scotiabank began coverage on Rocket Pharmaceuticals in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $50.00 price objective for the company. Needham & Company LLC restated a “buy” rating and set a $52.00 price objective on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Cantor Fitzgerald restated an “overweight” rating and set a $65.00 price objective on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Finally, Leerink Partners decreased their price target on Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating for the company in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Rocket Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $47.27.

Rocket Pharmaceuticals Price Performance

RCKT stock opened at $10.65 on Friday. The business’s fifty day moving average price is $11.79 and its 200 day moving average price is $16.08. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06. Rocket Pharmaceuticals, Inc. has a 12-month low of $10.07 and a 12-month high of $31.47. The company has a market capitalization of $970.82 million, a PE ratio of -3.87 and a beta of 0.98.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.71) earnings per share for the quarter, topping the consensus estimate of ($0.78) by $0.07. On average, sell-side analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current year.

Insider Transactions at Rocket Pharmaceuticals

In related news, CEO Gaurav Shah sold 11,091 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $13.05, for a total value of $144,737.55. Following the completion of the sale, the chief executive officer now directly owns 707,328 shares of the company’s stock, valued at $9,230,630.40. This represents a 1.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 14,386 shares of company stock valued at $185,345. 28.50% of the stock is currently owned by corporate insiders.

About Rocket Pharmaceuticals

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.