Frazier Life Sciences Management L.P. Has $18.59 Million Holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Frazier Life Sciences Management L.P. lessened its position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 0.4% in the fourth quarter, HoldingsChannel reports. The fund owned 1,479,025 shares of the biotechnology company’s stock after selling 6,605 shares during the quarter. Rocket Pharmaceuticals makes up approximately 0.8% of Frazier Life Sciences Management L.P.’s holdings, making the stock its 26th largest holding. Frazier Life Sciences Management L.P.’s holdings in Rocket Pharmaceuticals were worth $18,591,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Rocket Pharmaceuticals by 16.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,572 shares of the biotechnology company’s stock valued at $1,754,000 after acquiring an additional 19,939 shares during the period. Woodline Partners LP grew its stake in Rocket Pharmaceuticals by 8.5% in the fourth quarter. Woodline Partners LP now owns 652,421 shares of the biotechnology company’s stock valued at $8,201,000 after acquiring an additional 51,358 shares during the period. Soleus Capital Management L.P. bought a new position in shares of Rocket Pharmaceuticals in the fourth quarter valued at approximately $3,415,000. Two Sigma Investments LP lifted its holdings in shares of Rocket Pharmaceuticals by 88.6% in the fourth quarter. Two Sigma Investments LP now owns 41,142 shares of the biotechnology company’s stock valued at $517,000 after purchasing an additional 19,326 shares in the last quarter. Finally, Tema Etfs LLC bought a new position in shares of Rocket Pharmaceuticals in the fourth quarter valued at approximately $1,144,000. Institutional investors and hedge funds own 98.39% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on RCKT shares. Cantor Fitzgerald raised their target price on Rocket Pharmaceuticals from $20.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Scotiabank dropped their target price on Rocket Pharmaceuticals from $52.00 to $51.00 and set a “sector outperform” rating on the stock in a report on Monday, May 12th. BMO Capital Markets started coverage on Rocket Pharmaceuticals in a report on Wednesday, March 12th. They issued an “outperform” rating and a $50.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on Rocket Pharmaceuticals from $45.00 to $44.00 and set an “overweight” rating on the stock in a report on Friday, May 9th. Finally, Needham & Company LLC restated a “buy” rating and issued a $42.00 target price on shares of Rocket Pharmaceuticals in a report on Wednesday, April 9th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.73.

Rocket Pharmaceuticals Stock Performance

Shares of Rocket Pharmaceuticals stock opened at $6.85 on Wednesday. The business’s fifty day simple moving average is $6.85 and its 200 day simple moving average is $10.14. The firm has a market capitalization of $731.48 million, a P/E ratio of -2.49 and a beta of 1.02. Rocket Pharmaceuticals, Inc. has a 12 month low of $4.55 and a 12 month high of $26.98. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06.

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

Insider Buying and Selling at Rocket Pharmaceuticals

In other news, CEO Gaurav Shah bought 20,000 shares of the stock in a transaction on Thursday, April 10th. The shares were purchased at an average cost of $5.08 per share, for a total transaction of $101,600.00. Following the completion of the purchase, the chief executive officer now directly owns 792,680 shares in the company, valued at $4,026,814.40. This represents a 2.59% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Aaron Ondrey sold 7,489 shares of the business’s stock in a transaction on Friday, April 4th. The shares were sold at an average price of $5.29, for a total value of $39,616.81. Following the completion of the sale, the chief financial officer now owns 129,650 shares in the company, valued at approximately $685,848.50. The trade was a 5.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 24.76% of the company’s stock.

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.