Janus Henderson Group PLC Acquires 1,656,111 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Janus Henderson Group PLC grew its holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 174.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,606,016 shares of the biotechnology company’s stock after acquiring an additional 1,656,111 shares during the quarter. Janus Henderson Group PLC owned 2.87% of Rocket Pharmaceuticals worth $70,170,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Rocket Pharmaceuticals by 18.3% in the 4th quarter. Vanguard Group Inc. now owns 5,447,565 shares of the biotechnology company’s stock valued at $163,264,000 after purchasing an additional 843,552 shares during the period. Franklin Resources Inc. raised its position in Rocket Pharmaceuticals by 60.8% in the 4th quarter. Franklin Resources Inc. now owns 1,072,910 shares of the biotechnology company’s stock valued at $32,155,000 after buying an additional 405,855 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Rocket Pharmaceuticals by 11.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,943,160 shares of the biotechnology company’s stock worth $79,290,000 after buying an additional 314,086 shares during the period. Norges Bank acquired a new position in Rocket Pharmaceuticals in the 4th quarter valued at about $7,293,000. Finally, Perceptive Advisors LLC raised its holdings in Rocket Pharmaceuticals by 12.5% in the 4th quarter. Perceptive Advisors LLC now owns 1,707,398 shares of the biotechnology company’s stock valued at $51,171,000 after acquiring an additional 189,931 shares during the period. 98.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Needham & Company LLC dropped their price target on Rocket Pharmaceuticals from $53.00 to $52.00 and set a “buy” rating for the company in a report on Friday, June 28th. Canaccord Genuity Group decreased their price target on shares of Rocket Pharmaceuticals from $49.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. William Blair reiterated an “outperform” rating on shares of Rocket Pharmaceuticals in a research note on Monday, June 3rd. Chardan Capital restated a “buy” rating and set a $62.00 target price on shares of Rocket Pharmaceuticals in a research report on Friday, June 28th. Finally, The Goldman Sachs Group assumed coverage on Rocket Pharmaceuticals in a research note on Tuesday, April 2nd. They issued a “neutral” rating and a $39.00 price target for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.25.

Insider Activity

In other Rocket Pharmaceuticals 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 value of $61,700.14. Following the sale, the insider now owns 72,220 shares in the company, valued at $1,472,565.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Gaurav Shah sold 9,790 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $23.35, for a total value of $228,596.50. Following the completion of the transaction, the chief executive officer now owns 728,069 shares of the company’s stock, valued at $17,000,411.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark Andrew White sold 3,026 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $20.39, for a total transaction of $61,700.14. Following the sale, the insider now owns 72,220 shares in the company, valued at $1,472,565.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,755 shares of company stock worth $358,654. Corporate insiders own 31.10% of the company’s stock.

Rocket Pharmaceuticals Price Performance

Shares of RCKT stock traded down $0.12 during trading hours on Tuesday, reaching $24.56. The company’s stock had a trading volume of 474,623 shares, compared to its average volume of 748,775. Rocket Pharmaceuticals, Inc. has a fifty-two week low of $14.89 and a fifty-two week high of $32.53. The firm’s 50 day simple moving average is $22.21 and its 200-day simple moving average is $24.99. The company has a quick ratio of 10.47, a current ratio of 10.47 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of -8.47 and a beta of 1.13.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its quarterly earnings data on Monday, May 6th. The biotechnology company reported ($0.66) earnings per share for the quarter, beating the consensus estimate of ($0.67) by $0.01. During the same period last year, the business earned ($0.73) earnings per share. Sell-side analysts forecast that Rocket Pharmaceuticals, Inc. will post -2.96 earnings per share for the current 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.