Profund Advisors LLC Has $478,000 Position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Profund Advisors LLC lessened its position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 56.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,201 shares of the biotechnology company's stock after selling 28,947 shares during the period. Profund Advisors LLC's holdings in Rocket Pharmaceuticals were worth $478,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its stake in Rocket Pharmaceuticals by 12.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 594,665 shares of the biotechnology company's stock valued at $17,822,000 after acquiring an additional 64,946 shares during the period. Russell Investments Group Ltd. grew its position in Rocket Pharmaceuticals by 4.1% in the 1st quarter. Russell Investments Group Ltd. now owns 675,769 shares of the biotechnology company's stock worth $18,205,000 after purchasing an additional 26,823 shares during the last quarter. Avidity Partners Management LP increased its stake in shares of Rocket Pharmaceuticals by 8.3% in the fourth quarter. Avidity Partners Management LP now owns 1,719,103 shares of the biotechnology company's stock valued at $51,522,000 after purchasing an additional 131,674 shares during the period. Virtu Financial LLC bought a new position in Rocket Pharmaceuticals in the 4th quarter worth approximately $332,000. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in Rocket Pharmaceuticals by 19.6% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 231,287 shares of the biotechnology company's stock worth $6,231,000 after purchasing an additional 37,937 shares during the period. Institutional investors and hedge funds own 98.39% of the company's stock.

Insider Transactions at Rocket Pharmaceuticals

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

Rocket Pharmaceuticals Stock Down 4.7 %

NASDAQ RCKT traded down $0.86 during trading on Thursday, reaching $17.60. 1,082,381 shares of the company's stock were exchanged, compared to its average volume of 773,822. The firm has a market capitalization of $1.60 billion, a PE ratio of -6.13 and a beta of 1.09. Rocket Pharmaceuticals, Inc. has a fifty-two week low of $16.55 and a fifty-two week high of $32.53. The company has a current ratio of 7.79, a quick ratio of 7.79 and a debt-to-equity ratio of 0.05. The company's fifty day simple moving average is $20.24 and its 200-day simple moving average is $22.29.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last announced its quarterly earnings data on Monday, August 5th. The biotechnology company reported ($0.74) EPS for the quarter, missing analysts' consensus estimates of ($0.72) by ($0.02). During the same quarter in the previous year, the firm earned ($0.82) EPS. Sell-side analysts predict that Rocket Pharmaceuticals, Inc. will post -2.97 EPS for the current year.

Wall Street Analysts Forecast Growth

RCKT has been the topic of a number of research analyst reports. William Blair reaffirmed an "outperform" rating on shares of Rocket Pharmaceuticals in a report on Monday, June 3rd. JPMorgan Chase & Co. raised their price objective on Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 6th. Canaccord Genuity Group cut their target price on Rocket Pharmaceuticals from $49.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday, July 3rd. 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. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $65.00 price objective on shares of Rocket Pharmaceuticals in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.29.

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.