Monaco Asset Management SAM Invests $8.48 Million in Rocket Pharmaceuticals, Inc. $RCKT

Monaco Asset Management SAM bought a new stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,480,468 shares of the biotechnology company’s stock, valued at approximately $8,483,000. Rocket Pharmaceuticals makes up approximately 0.7% of Monaco Asset Management SAM’s holdings, making the stock its 11th biggest holding. Monaco Asset Management SAM owned approximately 2.27% of Rocket Pharmaceuticals at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Maverick Capital Ltd. grew its holdings in Rocket Pharmaceuticals by 42.0% during the 1st quarter. Maverick Capital Ltd. now owns 3,567,372 shares of the biotechnology company’s stock worth $12,771,000 after acquiring an additional 1,054,262 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Rocket Pharmaceuticals by 51.3% in the first quarter. Renaissance Technologies LLC now owns 637,174 shares of the biotechnology company’s stock worth $2,281,000 after acquiring an additional 216,000 shares during the last quarter. Quantinno Capital Management LP raised its stake in shares of Rocket Pharmaceuticals by 88.7% in the first quarter. Quantinno Capital Management LP now owns 76,248 shares of the biotechnology company’s stock worth $273,000 after acquiring an additional 35,851 shares during the last quarter. Focus Partners Advisor Solutions LLC acquired a new position in shares of Rocket Pharmaceuticals during the second quarter worth approximately $41,000. Finally, Sei Investments Co. acquired a new position in shares of Rocket Pharmaceuticals during the first quarter worth approximately $101,000. 98.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RCKT shares. Wedbush lowered their price target on shares of Rocket Pharmaceuticals from $16.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, August 11th. Weiss Ratings downgraded Rocket Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. Chardan Capital reiterated a “buy” rating and issued a $11.00 price objective on shares of Rocket Pharmaceuticals in a research report on Monday, May 11th. Finally, Wall Street Zen upgraded Rocket Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $8.57.

Insiders Place Their Bets

In related news, CEO Gaurav Shah sold 55,684 shares of the company’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $3.09, for a total value of $172,063.56. Following the completion of the sale, the chief executive officer owned 1,061,724 shares in the company, valued at approximately $3,280,727.16. This represents a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Christopher James Stevens sold 36,658 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $3.50, for a total value of $128,303.00. Following the completion of the sale, the chief operating officer owned 505,784 shares of the company’s stock, valued at $1,770,244. This represents a 6.76% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 100,498 shares of company stock worth $327,220. 21.30% of the stock is currently owned by company insiders.

Rocket Pharmaceuticals Stock Performance

Shares of NASDAQ RCKT opened at $3.47 on Monday. The company’s 50 day simple moving average is $3.38 and its 200 day simple moving average is $3.61. Rocket Pharmaceuticals, Inc. has a fifty-two week low of $2.53 and a fifty-two week high of $5.45. The firm has a market capitalization of $380.94 million, a P/E ratio of -20.41 and a beta of 0.47. The company has a debt-to-equity ratio of 0.05, a current ratio of 9.24 and a quick ratio of 9.24.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its quarterly earnings data on Monday, August 10th. The biotechnology company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.22. During the same quarter in the prior year, the firm earned ($0.62) earnings per share. On average, analysts predict that Rocket Pharmaceuticals, Inc. will post -1.4 EPS for the current year.

About Rocket Pharmaceuticals

Rocket Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing gene therapies for rare, inherited pediatric diseases. The company employs a proprietary adeno-associated virus (AAV) and lentiviral vector platform to deliver functional copies of genes in patients with genetic deficiencies. Its programs target a spectrum of disorders, including Fanconi anemia, leukocyte adhesion deficiency type I and Danon disease, with the goal of delivering one-time treatments that address the underlying causes of disease rather than merely managing symptoms.

The company’s pipeline comprises multiple product candidates in various stages of development.