Renaissance Technologies LLC Acquires Shares of 99,574 Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Renaissance Technologies LLC purchased a new stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 99,574 shares of the biotechnology company's stock, valued at approximately $2,144,000. Renaissance Technologies LLC owned approximately 0.11% of Rocket Pharmaceuticals at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RCKT. First Turn Management LLC raised its holdings in shares of Rocket Pharmaceuticals by 123.6% during the 2nd quarter. First Turn Management LLC now owns 560,989 shares of the biotechnology company's stock worth $12,078,000 after acquiring an additional 310,119 shares during the period. Rice Hall James & Associates LLC raised its stake in Rocket Pharmaceuticals by 4.0% during the second quarter. Rice Hall James & Associates LLC now owns 75,423 shares of the biotechnology company's stock worth $1,624,000 after purchasing an additional 2,895 shares during the period. Pier 88 Investment Partners LLC boosted its holdings in Rocket Pharmaceuticals by 71.7% in the 2nd quarter. Pier 88 Investment Partners LLC now owns 30,900 shares of the biotechnology company's stock valued at $665,000 after purchasing an additional 12,900 shares during the last quarter. Torray Investment Partners LLC grew its stake in shares of Rocket Pharmaceuticals by 10.3% in the 2nd quarter. Torray Investment Partners LLC now owns 67,216 shares of the biotechnology company's stock valued at $1,447,000 after buying an additional 6,283 shares during the period. Finally, TD Asset Management Inc increased its holdings in shares of Rocket Pharmaceuticals by 14.8% during the 2nd quarter. TD Asset Management Inc now owns 178,164 shares of the biotechnology company's stock worth $3,836,000 after buying an additional 23,000 shares during the last quarter. Institutional investors and hedge funds own 98.39% of the company's stock.

Insider Activity

In related news, insider Mark Andrew White sold 3,026 shares of the 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 completion of the sale, the insider now owns 72,220 shares in the company, valued at approximately $1,472,565.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 31.10% of the company's stock.

Rocket Pharmaceuticals Stock Down 5.3 %

NASDAQ:RCKT traded down $0.90 during trading hours on Thursday, hitting $16.06. The company's stock had a trading volume of 1,159,613 shares, compared to its average volume of 788,564. The stock has a market capitalization of $1.46 billion, a P/E ratio of -5.59 and a beta of 1.09. 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 stock has a fifty day moving average of $19.73 and a 200-day moving average of $21.98. Rocket Pharmaceuticals, Inc. has a 52-week low of $15.98 and a 52-week high of $32.53.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last posted its earnings results 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 period last year, the business posted ($0.82) earnings per share. On average, equities analysts forecast that Rocket Pharmaceuticals, Inc. will post -2.97 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Chardan Capital reiterated a "buy" rating and issued a $62.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, August 6th. JPMorgan Chase & Co. boosted their price objective on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the company an "overweight" rating in a report 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. 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 reaffirmed a "buy" rating and set a $38.00 price objective on shares of Rocket Pharmaceuticals in a research report on Monday. One equities 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 company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $52.00.

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.