Pier 88 Investment Partners LLC Acquires 12,900 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Pier 88 Investment Partners LLC grew its holdings in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 71.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 30,900 shares of the biotechnology company’s stock after purchasing an additional 12,900 shares during the period. Pier 88 Investment Partners LLC’s holdings in Rocket Pharmaceuticals were worth $665,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nisa Investment Advisors LLC boosted its holdings in Rocket Pharmaceuticals by 31.9% in the second quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock worth $68,000 after acquiring an additional 764 shares in the last quarter. Old Well Partners LLC purchased a new stake in Rocket Pharmaceuticals during the 4th quarter valued at about $200,000. Capstone Investment Advisors LLC bought a new stake in Rocket Pharmaceuticals during the 4th quarter valued at about $217,000. Amalgamated Bank increased its position in shares of Rocket Pharmaceuticals by 5.4% during the fourth quarter. Amalgamated Bank now owns 8,653 shares of the biotechnology company’s stock valued at $259,000 after acquiring an additional 440 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Rocket Pharmaceuticals during the fourth quarter valued at approximately $332,000. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Insider Activity at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, insider Mark Andrew White sold 3,026 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $20.39, for a total value of $61,700.14. Following the completion of the sale, the insider now owns 72,220 shares in the company, valued at approximately $1,472,565.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 31.10% of the stock is owned by corporate insiders.

Rocket Pharmaceuticals Stock Down 0.1 %

NASDAQ RCKT opened at $18.51 on Friday. The stock’s 50-day moving average price is $20.77 and its 200-day moving average price is $23.15. The company has a market capitalization of $1.68 billion, a P/E ratio of -6.45 and a beta of 1.09. The company has a quick ratio of 7.79, a current ratio of 7.79 and a debt-to-equity ratio of 0.05. Rocket Pharmaceuticals, Inc. has a 52 week low of $15.27 and a 52 week high of $32.53.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its earnings results on Monday, August 5th. The biotechnology company reported ($0.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.02). During the same period in the prior year, the company posted ($0.82) EPS. On average, equities research analysts predict that Rocket Pharmaceuticals, Inc. will post -2.97 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, August 6th. Chardan Capital reiterated a “buy” rating and issued a $62.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, August 6th. Needham & Company LLC reissued a “buy” rating and set a $52.00 price objective on shares of Rocket Pharmaceuticals in a report on Tuesday, August 6th. Canaccord Genuity Group dropped their target price on shares of Rocket Pharmaceuticals from $49.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Finally, William Blair reiterated an “outperform” rating on shares of Rocket Pharmaceuticals in a research note on Monday, June 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $51.75.

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.