Maverick Capital Ltd. Purchases 40,000 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Maverick Capital Ltd. increased its holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 1.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,928,312 shares of the biotechnology company's stock after acquiring an additional 40,000 shares during the quarter. Rocket Pharmaceuticals comprises about 1.6% of Maverick Capital Ltd.'s investment portfolio, making the stock its 21st biggest holding. Maverick Capital Ltd. owned about 4.33% of Rocket Pharmaceuticals worth $84,577,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of RCKT. Principal Financial Group Inc. grew its stake in shares of Rocket Pharmaceuticals by 3.8% in the fourth 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 last quarter. Nisa Investment Advisors LLC increased its stake in Rocket Pharmaceuticals by 31.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company's stock valued at $68,000 after purchasing an additional 764 shares in the last quarter. Jennison Associates LLC raised its holdings in Rocket Pharmaceuticals by 3.5% in the first quarter. Jennison Associates LLC now owns 26,783 shares of the biotechnology company's stock worth $722,000 after buying an additional 903 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Rocket Pharmaceuticals by 0.8% in the first quarter. Nordea Investment Management AB now owns 154,070 shares of the biotechnology company's stock worth $4,140,000 after buying an additional 1,209 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in shares of Rocket Pharmaceuticals by 9.1% during the first quarter. ProShare Advisors LLC now owns 17,614 shares of the biotechnology company's stock valued at $475,000 after buying an additional 1,468 shares during the last quarter. 98.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Rocket Pharmaceuticals Stock Performance

Rocket Pharmaceuticals stock traded up $0.56 during mid-day trading on Friday, reaching $18.16. 198,512 shares of the stock traded hands, compared to its average volume of 770,638. The stock has a market capitalization of $1.65 billion, a PE ratio of -6.13 and a beta of 1.09. The company has a debt-to-equity ratio of 0.05, a current ratio of 7.79 and a quick ratio of 7.79. The business's 50-day moving average is $20.24 and its 200-day moving average is $22.29. Rocket Pharmaceuticals, Inc. has a 12-month low of $16.55 and a 12-month high of $32.53.

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

Insiders Place Their Bets

In other news, insider Mark Andrew White sold 3,026 shares of Rocket Pharmaceuticals stock in a transaction on Monday, July 8th. The shares were sold at an average price of $20.39, for a total transaction of $61,700.14. Following the transaction, the insider now owns 72,220 shares in the company, valued at approximately $1,472,565.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 31.10% of the company's stock.

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.