Dimensional Fund Advisors LP Trims Position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Dimensional Fund Advisors LP cut its stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 8.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 946,175 shares of the biotechnology company's stock after selling 83,613 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.04% of Rocket Pharmaceuticals worth $20,371,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RCKT. Wellington Management Group LLP lifted its stake in Rocket Pharmaceuticals by 2.2% in the 4th quarter. Wellington Management Group LLP now owns 8,197,546 shares of the biotechnology company's stock worth $245,680,000 after purchasing an additional 174,716 shares in the last quarter. Vanguard Group Inc. lifted its stake in Rocket Pharmaceuticals by 18.3% in the 4th quarter. Vanguard Group Inc. now owns 5,447,565 shares of the biotechnology company's stock worth $163,264,000 after purchasing an additional 843,552 shares in the last quarter. Westfield Capital Management Co. LP lifted its stake in Rocket Pharmaceuticals by 1.1% in the 1st quarter. Westfield Capital Management Co. LP now owns 3,984,030 shares of the biotechnology company's stock worth $107,330,000 after purchasing an additional 42,171 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Rocket Pharmaceuticals by 11.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,943,160 shares of the biotechnology company's stock worth $79,290,000 after purchasing an additional 314,086 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of Rocket Pharmaceuticals by 174.3% during the 1st quarter. Janus Henderson Group PLC now owns 2,606,016 shares of the biotechnology company's stock valued at $70,170,000 after buying an additional 1,656,111 shares during the period. 98.39% of the stock is owned by hedge funds and other institutional investors.

Rocket Pharmaceuticals Trading Up 2.2 %

Rocket Pharmaceuticals stock traded up $0.35 during trading on Friday, hitting $16.41. The company had a trading volume of 1,274,703 shares, compared to its average volume of 791,095. Rocket Pharmaceuticals, Inc. has a 1-year low of $15.98 and a 1-year 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 50 day simple moving average is $19.53 and its 200-day simple moving average is $21.94. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of -5.60 and a beta of 1.09.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last posted its earnings results 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 quarter in the previous year, the business posted ($0.82) EPS. As a group, analysts expect that Rocket Pharmaceuticals, Inc. will post -2.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RCKT. Needham & Company LLC reaffirmed a "buy" rating and set a $52.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, September 17th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $65.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, August 6th. Chardan Capital reaffirmed a "buy" rating and set a $62.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, August 6th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $38.00 price target on shares of Rocket Pharmaceuticals in a research report on Monday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the company an "overweight" rating in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $52.00.

Insiders Place Their Bets

In other Rocket Pharmaceuticals news, insider Mark Andrew White sold 3,026 shares of the business's stock in a transaction on Monday, July 8th. The shares were sold at an average price of $20.39, for a total value of $61,700.14. Following the completion of the transaction, the insider now owns 72,220 shares in the company, valued at $1,472,565.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 31.10% of the company's stock.

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.