Victory Capital Management Inc. Sells 37,210 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Victory Capital Management Inc. cut its position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 77.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,808 shares of the biotechnology company’s stock after selling 37,210 shares during the period. Victory Capital Management Inc.’s holdings in Rocket Pharmaceuticals were worth $233,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of RCKT. Nisa Investment Advisors LLC raised its stake in Rocket Pharmaceuticals by 31.9% in the second quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock valued at $68,000 after buying an additional 764 shares during the period. Old Well Partners LLC acquired a new stake in Rocket Pharmaceuticals during the 4th quarter valued at $200,000. Capstone Investment Advisors LLC bought a new position in Rocket Pharmaceuticals during the fourth quarter worth $217,000. Virtu Financial LLC acquired a new position in shares of Rocket Pharmaceuticals in the fourth quarter valued at $332,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Rocket Pharmaceuticals by 30.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,092 shares of the biotechnology company’s stock valued at $368,000 after purchasing an additional 3,995 shares during the period. 98.39% of the stock is owned by institutional investors.

Insider Activity at Rocket Pharmaceuticals

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

Rocket Pharmaceuticals Stock Performance

RCKT opened at $19.78 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 7.79 and a current ratio of 7.79. Rocket Pharmaceuticals, Inc. has a 52-week low of $16.55 and a 52-week high of $32.53. The firm has a market cap of $1.80 billion, a P/E ratio of -6.89 and a beta of 1.09. The business’s fifty day moving average is $20.56 and its 200-day moving average is $22.42.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its earnings results on Monday, August 5th. The biotechnology company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.02). During the same quarter in the previous year, the company earned ($0.82) EPS. Sell-side analysts expect that Rocket Pharmaceuticals, Inc. will post -2.97 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Chardan Capital restated a “buy” rating and set a $62.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, August 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, August 6th. Canaccord Genuity Group dropped their price target on Rocket Pharmaceuticals from $49.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Needham & Company LLC restated a “buy” rating and issued a $52.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, September 17th. Finally, William Blair reiterated an “outperform” rating on shares of Rocket Pharmaceuticals in a research report on Monday, June 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Rocket Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $52.29.

Rocket Pharmaceuticals 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.