Rocket Pharmaceuticals, Inc. $RCKT Shares Bought by Monaco Asset Management SAM

Monaco Asset Management SAM lifted its stake in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 538.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,892,261 shares of the biotechnology company’s stock after purchasing an additional 2,439,494 shares during the quarter. Rocket Pharmaceuticals comprises about 0.6% of Monaco Asset Management SAM’s investment portfolio, making the stock its 10th largest position. Monaco Asset Management SAM’s holdings in Rocket Pharmaceuticals were worth $9,429,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in RCKT. Prudential Financial Inc. acquired a new stake in shares of Rocket Pharmaceuticals in the second quarter valued at about $25,000. CANADA LIFE ASSURANCE Co lifted its position in shares of Rocket Pharmaceuticals by 94.4% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 12,202 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 5,926 shares during the period. GRIMES & Co WEALTH MANAGEMENT LLC acquired a new stake in shares of Rocket Pharmaceuticals during the 3rd quarter valued at approximately $50,000. Corton Capital Inc. purchased a new stake in shares of Rocket Pharmaceuticals during the 2nd quarter worth approximately $38,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Rocket Pharmaceuticals in the 3rd quarter worth approximately $54,000. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RCKT. Morgan Stanley set a $5.00 price objective on Rocket Pharmaceuticals in a report on Thursday, January 8th. Wedbush restated an “outperform” rating and issued a $16.00 price target on shares of Rocket Pharmaceuticals in a research report on Friday, November 7th. TD Cowen raised Rocket Pharmaceuticals to a “hold” rating in a research note on Friday, December 19th. JPMorgan Chase & Co. lowered shares of Rocket Pharmaceuticals from a “neutral” rating to an “underweight” rating in a research report on Tuesday, November 18th. Finally, Bank of America dropped their target price on shares of Rocket Pharmaceuticals from $10.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, November 18th. Eight equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Rocket Pharmaceuticals has a consensus rating of “Hold” and an average price target of $14.36.

Rocket Pharmaceuticals Trading Up 1.1%

Shares of RCKT stock opened at $3.78 on Friday. The company has a market capitalization of $409.08 million, a price-to-earnings ratio of -1.68 and a beta of 0.48. The company has a current ratio of 7.30, a quick ratio of 7.30 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average price of $3.51 and a 200 day moving average price of $3.39. Rocket Pharmaceuticals, Inc. has a twelve month low of $2.19 and a twelve month high of $11.08.

Insider Buying and Selling

In other Rocket Pharmaceuticals news, CEO Gaurav Shah sold 12,279 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $3.31, for a total value of $40,643.49. Following the completion of the sale, the chief executive officer directly owned 1,052,045 shares of the company’s stock, valued at approximately $3,482,268.95. The trade was a 1.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Martin Wilson sold 12,253 shares of the business’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $3.31, for a total value of $40,557.43. Following the completion of the transaction, the general counsel owned 683,376 shares of the company’s stock, valued at $2,261,974.56. This trade represents a 1.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 29,415 shares of company stock valued at $97,398. Company insiders own 24.76% of the company’s stock.

Rocket Pharmaceuticals Company Profile

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.