Logos Global Management LP Has $7.54 Million Stock Position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Logos Global Management LP cut its position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 73.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 350,000 shares of the biotechnology company’s stock after selling 950,000 shares during the quarter. Logos Global Management LP owned approximately 0.39% of Rocket Pharmaceuticals worth $7,536,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RCKT. Charles Schwab Investment Management Inc. raised its position in shares of Rocket Pharmaceuticals by 12.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 525,452 shares of the biotechnology company’s stock valued at $15,748,000 after purchasing an additional 57,246 shares during the period. Principal Financial Group Inc. increased its holdings in Rocket Pharmaceuticals by 3.8% during the 4th quarter. Principal Financial Group Inc. now owns 17,963 shares of the biotechnology company’s stock worth $538,000 after acquiring an additional 661 shares during the period. Norges Bank bought a new stake in Rocket Pharmaceuticals during the 4th quarter worth approximately $7,293,000. Franklin Resources Inc. increased its holdings in Rocket Pharmaceuticals by 60.8% during the 4th quarter. Franklin Resources Inc. now owns 1,072,910 shares of the biotechnology company’s stock worth $32,155,000 after acquiring an additional 405,855 shares during the period. Finally, TD Asset Management Inc increased its holdings in Rocket Pharmaceuticals by 38.2% during the 4th quarter. TD Asset Management Inc now owns 154,864 shares of the biotechnology company’s stock worth $4,641,000 after acquiring an additional 42,834 shares during the period. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RCKT has been the topic of a number of analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, August 6th. JPMorgan Chase & Co. boosted their price target on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Chardan Capital reissued a “buy” rating and issued a $62.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, August 6th. Needham & Company LLC reissued a “buy” rating and issued a $52.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, September 17th. Finally, Canaccord Genuity Group cut their price target on shares of Rocket Pharmaceuticals from $49.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.29.

Insider Buying and Selling at Rocket Pharmaceuticals

In other news, insider Mark Andrew White sold 3,026 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $20.39, for a total value of $61,700.14. Following the transaction, the insider now directly owns 72,220 shares in the company, valued at $1,472,565.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 31.10% of the company’s stock.

Rocket Pharmaceuticals Price Performance

NASDAQ RCKT opened at $19.78 on Tuesday. Rocket Pharmaceuticals, Inc. has a 12 month low of $16.55 and a 12 month high of $32.53. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of -6.89 and a beta of 1.09. The company’s 50 day moving average is $20.56 and its two-hundred day moving average is $22.42. The company has a current ratio of 7.79, a quick ratio of 7.79 and a debt-to-equity ratio of 0.05.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its quarterly earnings data on Monday, August 5th. The biotechnology company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.02). During the same quarter in the previous year, the company posted ($0.82) EPS. As a group, research analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.97 earnings per share for the current year.

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.