Renaissance Technologies LLC Raises Holdings in Rocket Pharmaceuticals, Inc. $RCKT

Renaissance Technologies LLC boosted its holdings in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 51.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 637,174 shares of the biotechnology company’s stock after acquiring an additional 216,000 shares during the quarter. Renaissance Technologies LLC’s holdings in Rocket Pharmaceuticals were worth $2,281,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RCKT. Sei Investments Co. acquired a new position in shares of Rocket Pharmaceuticals in the 1st quarter valued at $101,000. Sequoia Financial Advisors LLC increased its position in shares of Rocket Pharmaceuticals by 68.9% during the 1st quarter. Sequoia Financial Advisors LLC now owns 20,349 shares of the biotechnology company’s stock worth $73,000 after purchasing an additional 8,298 shares during the last quarter. Ground Swell Capital LLC purchased a new stake in Rocket Pharmaceuticals in the 1st quarter valued at about $50,000. Assenagon Asset Management S.A. raised its holdings in Rocket Pharmaceuticals by 204.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 99,026 shares of the biotechnology company’s stock valued at $355,000 after buying an additional 66,511 shares during the period. Finally, Krilogy Financial LLC acquired a new position in Rocket Pharmaceuticals in the first quarter valued at about $62,000. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Insider Buying and Selling

In other Rocket Pharmaceuticals news, CEO Gaurav Shah sold 55,684 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $3.09, for a total value of $172,063.56. Following the completion of the transaction, the chief executive officer owned 1,061,724 shares of the company’s stock, valued at $3,280,727.16. This trade represents a 4.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders have sold 66,083 shares of company stock valued at $207,531. Company insiders own 21.30% of the company’s stock.

Rocket Pharmaceuticals Trading Up 0.8%

Shares of RCKT stock opened at $3.64 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 6.12 and a current ratio of 6.12. The stock has a market capitalization of $397.45 million, a P/E ratio of -1.95 and a beta of 0.47. The company has a 50 day moving average price of $3.34 and a 200 day moving average price of $3.61. Rocket Pharmaceuticals, Inc. has a fifty-two week low of $2.53 and a fifty-two week high of $5.45.

Analysts Set New Price Targets

A number of brokerages have weighed in on RCKT. Chardan Capital reiterated a “buy” rating and set a $11.00 price target on shares of Rocket Pharmaceuticals in a research report on Monday, May 11th. Wall Street Zen lowered shares of Rocket Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday. Finally, Weiss Ratings raised shares of Rocket Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $8.71.

About Rocket Pharmaceuticals

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.