PDT Partners LLC Takes Position in Rocket Pharmaceuticals, Inc. $RCKT

PDT Partners LLC purchased a new position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 186,596 shares of the biotechnology company’s stock, valued at approximately $638,000.

Other hedge funds have also bought and sold shares of the company. Canada Pension Plan Investment Board acquired a new stake in Rocket Pharmaceuticals during the second quarter valued at approximately $200,000. Legal & General Group Plc acquired a new position in shares of Rocket Pharmaceuticals in the 2nd quarter worth approximately $31,000. The Manufacturers Life Insurance Company bought a new stake in shares of Rocket Pharmaceuticals in the 2nd quarter valued at approximately $91,000. Ieq Capital LLC bought a new stake in shares of Rocket Pharmaceuticals in the 2nd quarter valued at approximately $1,506,000. Finally, Allworth Financial LP acquired a new stake in shares of Rocket Pharmaceuticals during the 2nd quarter valued at approximately $28,000. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Rocket Pharmaceuticals Trading Down 1.1%

Shares of NASDAQ RCKT opened at $3.62 on Friday. Rocket Pharmaceuticals, Inc. has a 12-month low of $2.53 and a 12-month high of $5.45. The company has a market cap of $397.40 million, a price-to-earnings ratio of -21.29 and a beta of 0.47. The company has a current ratio of 9.24, a quick ratio of 9.24 and a debt-to-equity ratio of 0.05. The stock’s 50 day simple moving average is $3.51 and its 200 day simple moving average is $3.62.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly earnings data on Monday, August 10th. The biotechnology company reported $1.08 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 research analysts expect that Rocket Pharmaceuticals, Inc. will post -1.39 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on RCKT shares. Weiss Ratings cut Rocket Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, August 11th. Chardan Capital reissued a “buy” rating and set a $11.00 target price on shares of Rocket Pharmaceuticals in a report on Monday, May 11th. Wedbush reduced their price target on shares of Rocket Pharmaceuticals from $16.00 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 11th. Finally, Wall Street Zen raised shares of Rocket Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Rocket Pharmaceuticals currently has an average rating of “Hold” and an average target price of $8.57.

Insider Activity at Rocket Pharmaceuticals

In other news, COO Christopher James Stevens sold 36,658 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $3.50, for a total transaction of $128,303.00. Following the completion of the transaction, the chief operating officer owned 505,784 shares in the company, valued at approximately $1,770,244. This represents a 6.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 50,613 shares of company stock worth $176,035 in the last three months. 21.30% of the stock is currently owned by corporate insiders.

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.