MPM Bioimpact LLC Buys 597,706 Shares of Rocket Pharmaceuticals, Inc. $RCKT

MPM Bioimpact LLC boosted its holdings in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 58.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,618,265 shares of the biotechnology company’s stock after buying an additional 597,706 shares during the period. Rocket Pharmaceuticals makes up about 1.9% of MPM Bioimpact LLC’s portfolio, making the stock its 22nd largest position. MPM Bioimpact LLC owned approximately 1.52% of Rocket Pharmaceuticals worth $10,794,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of RCKT. Signaturefd LLC raised its holdings in shares of Rocket Pharmaceuticals by 83.6% in the first quarter. Signaturefd LLC now owns 9,024 shares of the biotechnology company’s stock valued at $60,000 after purchasing an additional 4,108 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Rocket Pharmaceuticals in the first quarter valued at about $69,000. LJI Wealth Management LLC purchased a new stake in shares of Rocket Pharmaceuticals in the first quarter valued at about $80,000. Victory Capital Management Inc. raised its holdings in shares of Rocket Pharmaceuticals by 16.1% in the first quarter. Victory Capital Management Inc. now owns 11,929 shares of the biotechnology company’s stock valued at $80,000 after purchasing an additional 1,658 shares during the last quarter. Finally, Powell Investment Advisors LLC purchased a new stake in shares of Rocket Pharmaceuticals in the first quarter valued at about $83,000. Institutional investors and hedge funds own 98.39% of the company’s stock.

Insider Activity at Rocket Pharmaceuticals

In related news, Director Elisabeth Bjork purchased 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The shares were acquired at an average price of $3.41 per share, for a total transaction of $34,100.00. Following the completion of the acquisition, the director directly owned 40,000 shares in the company, valued at approximately $136,400. The trade was a 33.33% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan David Schwartz sold 11,161 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $3.02, for a total transaction of $33,706.22. Following the sale, the insider owned 224,094 shares in the company, valued at approximately $676,763.88. This trade represents a 4.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,927 shares of company stock worth $111,413 over the last quarter. Corporate insiders own 24.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RCKT. Wedbush restated an “outperform” rating and set a $32.00 price objective on shares of Rocket Pharmaceuticals in a report on Friday, May 16th. Cantor Fitzgerald decreased their price objective on shares of Rocket Pharmaceuticals from $10.00 to $8.00 and set an “overweight” rating for the company in a report on Friday, August 8th. Chardan Capital restated a “buy” rating and set a $11.00 price objective on shares of Rocket Pharmaceuticals in a report on Wednesday, August 20th. Canaccord Genuity Group cut their target price on shares of Rocket Pharmaceuticals from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, July 25th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $7.00 price objective on shares of Rocket Pharmaceuticals in a research report on Wednesday, May 28th. Eight analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $16.73.

Rocket Pharmaceuticals Trading Down 2.1%

RCKT stock opened at $3.28 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 6.39 and a current ratio of 6.39. Rocket Pharmaceuticals, Inc. has a one year low of $2.19 and a one year high of $22.01. The company’s 50 day moving average price is $3.07 and its two-hundred day moving average price is $5.30. The company has a market capitalization of $353.91 million, a PE ratio of -1.31 and a beta of 0.62.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its earnings results on Thursday, August 7th. The biotechnology company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.02). During the same period in the prior year, the firm earned ($0.74) EPS. As a group, analysts predict that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current fiscal year.

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.