Janus Henderson Group PLC Acquires 2,106,699 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Janus Henderson Group PLC boosted its holdings in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 111.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,004,039 shares of the biotechnology company’s stock after purchasing an additional 2,106,699 shares during the period. Janus Henderson Group PLC owned about 4.39% of Rocket Pharmaceuticals worth $50,343,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its stake in Rocket Pharmaceuticals by 796.2% during the fourth quarter. SG Americas Securities LLC now owns 54,921 shares of the biotechnology company’s stock worth $690,000 after purchasing an additional 48,793 shares during the last quarter. Jennison Associates LLC lifted its stake in Rocket Pharmaceuticals by 72.6% during the fourth quarter. Jennison Associates LLC now owns 70,304 shares of the biotechnology company’s stock worth $884,000 after purchasing an additional 29,564 shares during the last quarter. Mirador Capital Partners LP lifted its stake in Rocket Pharmaceuticals by 403.9% during the fourth quarter. Mirador Capital Partners LP now owns 84,529 shares of the biotechnology company’s stock worth $1,063,000 after purchasing an additional 67,755 shares during the last quarter. Sovran Advisors LLC bought a new stake in Rocket Pharmaceuticals during the fourth quarter worth $1,895,000. Finally, Strategic Financial Concepts LLC bought a new stake in Rocket Pharmaceuticals during the fourth quarter worth $141,000. 98.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Aaron Ondrey sold 7,489 shares of Rocket Pharmaceuticals stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $5.29, for a total value of $39,616.81. Following the completion of the transaction, the chief financial officer now directly owns 129,650 shares of the company’s stock, valued at approximately $685,848.50. This trade represents a 5.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kinnari Patel acquired 21,099 shares of the stock in a transaction dated Wednesday, April 9th. The stock was acquired at an average cost of $4.70 per share, with a total value of $99,165.30. Following the completion of the transaction, the insider now owns 26,774 shares in the company, valued at approximately $125,837.80. This represents a 371.79% increase in their position. The disclosure for this purchase can be found here. 28.50% of the stock is owned by corporate insiders.

Rocket Pharmaceuticals Stock Down 5.6%

Shares of NASDAQ:RCKT opened at $6.61 on Wednesday. The firm has a market cap of $705.86 million, a P/E ratio of -2.40 and a beta of 1.02. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06. Rocket Pharmaceuticals, Inc. has a 12-month low of $4.55 and a 12-month high of $26.98. The business has a fifty day simple moving average of $7.06 and a 200 day simple moving average of $10.50.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its earnings results on Tuesday, May 13th. The biotechnology company reported ($0.56) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.58) by $0.02. During the same period in the prior year, the business earned ($0.66) EPS. Analysts predict that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current year.

Analysts Set New Price Targets

RCKT has been the subject of several recent analyst reports. Canaccord Genuity Group cut their target price on Rocket Pharmaceuticals from $36.00 to $34.00 and set a “buy” rating for the company in a research note on Monday. BMO Capital Markets assumed coverage on Rocket Pharmaceuticals in a research note on Wednesday, March 12th. They issued an “outperform” rating and a $50.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and issued a $42.00 price target on shares of Rocket Pharmaceuticals in a research note on Wednesday, April 9th. Chardan Capital dropped their price target on Rocket Pharmaceuticals from $54.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. dropped their price target on Rocket Pharmaceuticals from $45.00 to $44.00 and set an “overweight” rating for the company in a research note on Friday, May 9th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $40.82.

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.