First Turn Management LLC Has $12.08 Million Position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

First Turn Management LLC boosted its position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 123.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 560,989 shares of the biotechnology company’s stock after buying an additional 310,119 shares during the quarter. Rocket Pharmaceuticals makes up about 2.0% of First Turn Management LLC’s portfolio, making the stock its 29th biggest position. First Turn Management LLC owned about 0.62% of Rocket Pharmaceuticals worth $12,078,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its holdings in shares of Rocket Pharmaceuticals by 12.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 594,665 shares of the biotechnology company’s stock valued at $17,822,000 after purchasing an additional 64,946 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Rocket Pharmaceuticals by 4.1% during the 1st quarter. Russell Investments Group Ltd. now owns 675,769 shares of the biotechnology company’s stock worth $18,205,000 after buying an additional 26,823 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Rocket Pharmaceuticals by 60.8% during the 4th quarter. Franklin Resources Inc. now owns 1,072,910 shares of the biotechnology company’s stock worth $32,155,000 after buying an additional 405,855 shares during the last quarter. Avidity Partners Management LP grew its holdings in shares of Rocket Pharmaceuticals by 8.3% in the 4th quarter. Avidity Partners Management LP now owns 1,719,103 shares of the biotechnology company’s stock valued at $51,522,000 after acquiring an additional 131,674 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Rocket Pharmaceuticals in the fourth quarter valued at about $332,000. Institutional investors own 98.39% of the company’s stock.

Insider Buying and Selling

In other news, insider Mark Andrew White sold 3,026 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $20.39, for a total transaction of $61,700.14. Following the transaction, the insider now directly owns 72,220 shares of the company’s stock, valued at $1,472,565.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 31.10% of the stock is owned by insiders.

Rocket Pharmaceuticals Price Performance

Rocket Pharmaceuticals stock opened at $18.94 on Friday. The company’s 50-day moving average price is $20.70 and its two-hundred day moving average price is $22.93. The company has a debt-to-equity ratio of 0.05, a current ratio of 7.79 and a quick ratio of 7.79. Rocket Pharmaceuticals, Inc. has a twelve month low of $16.55 and a twelve month high of $32.53.

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

Analysts Set New Price Targets

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

About Rocket Pharmaceuticals

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.