Frazier Life Sciences Management L.P. Sells 6,605 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Frazier Life Sciences Management L.P. trimmed its stake in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 0.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 1,479,025 shares of the biotechnology company’s stock after selling 6,605 shares during the quarter. Rocket Pharmaceuticals comprises about 0.8% of Frazier Life Sciences Management L.P.’s portfolio, making the stock its 26th biggest holding. Frazier Life Sciences Management L.P. owned approximately 1.62% of Rocket Pharmaceuticals worth $18,591,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Covestor Ltd lifted its position in shares of Rocket Pharmaceuticals by 33,166.7% during the 4th quarter. Covestor Ltd now owns 1,996 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 1,990 shares during the period. Signaturefd LLC lifted its position in shares of Rocket Pharmaceuticals by 319.8% during the 4th quarter. Signaturefd LLC now owns 4,916 shares of the biotechnology company’s stock worth $62,000 after buying an additional 3,745 shares during the last quarter. Harbour Investments Inc. lifted its position in shares of Rocket Pharmaceuticals by 51.9% during the 4th quarter. Harbour Investments Inc. now owns 5,385 shares of the biotechnology company’s stock worth $68,000 after buying an additional 1,840 shares during the last quarter. KBC Group NV lifted its position in shares of Rocket Pharmaceuticals by 159.6% during the 4th quarter. KBC Group NV now owns 5,475 shares of the biotechnology company’s stock worth $69,000 after buying an additional 3,366 shares during the last quarter. Finally, Virtus ETF Advisers LLC lifted its position in shares of Rocket Pharmaceuticals by 40.4% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,656 shares of the biotechnology company’s stock worth $71,000 after buying an additional 1,628 shares during the last quarter. 98.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Rocket Pharmaceuticals news, insider Kinnari Patel bought 21,099 shares of the firm’s stock in a transaction that occurred on Wednesday, April 9th. The stock was acquired at an average price of $4.70 per share, with a total value of $99,165.30. Following the completion of the purchase, the insider now directly owns 26,774 shares of the company’s stock, valued at approximately $125,837.80. This trade represents a 371.79% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Gaurav Shah bought 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 10th. The shares were acquired at an average cost of $5.08 per share, with a total value of $101,600.00. Following the purchase, the chief executive officer now directly owns 792,680 shares of the company’s stock, valued at $4,026,814.40. This trade represents a 2.59% increase in their ownership of the stock. The disclosure for this purchase can be found here. 24.76% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on RCKT shares. JPMorgan Chase & Co. dropped their price objective on Rocket Pharmaceuticals from $45.00 to $44.00 and set an “overweight” rating for the company in a research report on Friday, May 9th. Needham & Company LLC restated a “buy” rating and set a $42.00 price objective on shares of Rocket Pharmaceuticals in a research report on Wednesday, April 9th. Chardan Capital upped their price objective on Rocket Pharmaceuticals from $45.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. Canaccord Genuity Group dropped their target price on Rocket Pharmaceuticals from $36.00 to $34.00 and set a “buy” rating for the company in a research report on Monday, May 12th. Finally, The Goldman Sachs Group dropped their target price on Rocket Pharmaceuticals from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Friday, May 9th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.73.

Rocket Pharmaceuticals Price Performance

Shares of RCKT opened at $6.85 on Wednesday. Rocket Pharmaceuticals, Inc. has a 1 year low of $4.55 and a 1 year high of $26.98. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05. The company has a market capitalization of $731.48 million, a price-to-earnings ratio of -2.49 and a beta of 1.02. The business has a 50-day moving average of $6.85 and a 200-day moving average of $10.14.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly earnings data on Tuesday, May 13th. The biotechnology company reported ($0.56) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.02. During the same period in the prior year, the company earned ($0.66) EPS. As a group, equities research analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current year.

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.