Hennion & Walsh Asset Management Inc. Decreases Stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Hennion & Walsh Asset Management Inc. lowered its stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 11.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 204,110 shares of the biotechnology company’s stock after selling 27,177 shares during the period. Hennion & Walsh Asset Management Inc. owned 0.22% of Rocket Pharmaceuticals worth $4,394,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Harbor Capital Advisors Inc. raised its holdings in shares of Rocket Pharmaceuticals by 19.3% during the second quarter. Harbor Capital Advisors Inc. now owns 97,134 shares of the biotechnology company’s stock worth $2,091,000 after purchasing an additional 15,708 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Rocket Pharmaceuticals by 174.3% during the first quarter. Janus Henderson Group PLC now owns 2,606,016 shares of the biotechnology company’s stock worth $70,170,000 after purchasing an additional 1,656,111 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Rocket Pharmaceuticals by 11.9% during the first 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 during the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of Rocket Pharmaceuticals by 1.1% during the first 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 during the last quarter. Finally, ProShare Advisors LLC raised 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 worth $475,000 after purchasing an additional 1,468 shares during the last quarter. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Rocket Pharmaceuticals Price Performance

RCKT traded up $0.01 on Monday, reaching $18.98. 332,068 shares of the company’s stock were exchanged, compared to its average volume of 751,949. The stock has a market cap of $1.72 billion, a PE ratio of -6.63 and a beta of 1.13. Rocket Pharmaceuticals, Inc. has a twelve month low of $14.89 and a twelve month high of $32.53. The stock’s fifty day moving average price is $21.74 and its 200-day moving average price is $24.22. The company has a debt-to-equity ratio of 0.04, a current ratio of 10.47 and a quick ratio of 10.47.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings results on Monday, August 5th. The biotechnology company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.02). During the same period in the previous year, the business posted ($0.82) EPS. Sell-side analysts expect that Rocket Pharmaceuticals, Inc. will post -2.96 EPS for the current year.

Insider Buying and Selling

In other Rocket Pharmaceuticals news, insider Mark Andrew White sold 3,026 shares of Rocket Pharmaceuticals stock in a transaction dated 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 directly owns 72,220 shares of the company’s stock, valued at $1,472,565.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 31.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

RCKT has been the subject of a number of recent analyst reports. William Blair reaffirmed an “outperform” rating on shares of Rocket Pharmaceuticals in a report on Monday, June 3rd. JPMorgan Chase & Co. lifted 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 price objective on shares of Rocket Pharmaceuticals in a report on Tuesday, August 6th. Chardan Capital reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Rocket Pharmaceuticals in a report on Tuesday, August 6th. Finally, Canaccord Genuity Group cut their price objective on shares of Rocket Pharmaceuticals from $49.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Rocket Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $51.75.

Rocket Pharmaceuticals 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.