Schonfeld Strategic Advisors LLC reduced its holdings in shares of Rocket Pharmaceuticals Inc (NASDAQ:RCKT) by 51.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 36,435 shares of the biotechnology company’s stock after selling 39,165 shares during the period. Schonfeld Strategic Advisors LLC’s holdings in Rocket Pharmaceuticals were worth $829,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Virtus ETF Advisers LLC boosted its holdings in Rocket Pharmaceuticals by 20.1% during the fourth quarter. Virtus ETF Advisers LLC now owns 18,806 shares of the biotechnology company’s stock worth $428,000 after purchasing an additional 3,143 shares during the last quarter. Eventide Asset Management LLC boosted its holdings in Rocket Pharmaceuticals by 42.3% during the third quarter. Eventide Asset Management LLC now owns 1,415,000 shares of the biotechnology company’s stock worth $16,485,000 after purchasing an additional 420,686 shares during the last quarter. California Public Employees Retirement System purchased a new position in Rocket Pharmaceuticals during the third quarter worth about $168,000. Farallon Capital Management LLC purchased a new position in Rocket Pharmaceuticals during the fourth quarter worth about $8,059,000. Finally, Tower Research Capital LLC TRC raised its position in Rocket Pharmaceuticals by 1,107.4% in the third quarter. Tower Research Capital LLC TRC now owns 4,250 shares of the biotechnology company’s stock worth $50,000 after acquiring an additional 3,898 shares during the period. Hedge funds and other institutional investors own 94.35% of the company’s stock.

Shares of NASDAQ RCKT traded up $0.53 during midday trading on Thursday, hitting $15.50. The company’s stock had a trading volume of 396,527 shares, compared to its average volume of 427,460. The stock has a fifty day moving average price of $19.08 and a 200 day moving average price of $17.88. Rocket Pharmaceuticals Inc has a one year low of $9.01 and a one year high of $27.59. The company has a current ratio of 16.81, a quick ratio of 16.81 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $862.40 million, a price-to-earnings ratio of -9.81 and a beta of 2.65.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings results on Thursday, March 5th. The biotechnology company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.10. On average, equities research analysts predict that Rocket Pharmaceuticals Inc will post -2.07 earnings per share for the current fiscal year.

Several brokerages have commented on RCKT. Robert W. Baird lifted their price objective on shares of Rocket Pharmaceuticals from $30.00 to $41.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. BidaskClub raised shares of Rocket Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research raised shares of Rocket Pharmaceuticals from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Wednesday, March 11th. Chardan Capital reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Rocket Pharmaceuticals in a research report on Wednesday, March 11th. Finally, William Blair reaffirmed a “buy” rating on shares of Rocket Pharmaceuticals in a research report on Thursday, March 5th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $34.00.

Rocket Pharmaceuticals Profile

Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a multi-platform biotechnology company that focuses on developing gene therapies for rare and devastating pediatric diseases. It has clinical-stage lentiviral vector (LVV) programs under clinical testing to treat fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells or promotes the production of faulty blood cells; and leukocyte adhesion deficiency-I, a genetic disorder that causes the immune system to malfunction It also has additional pre-clinical stage LVV programs include pyruvate kinase deficiency, a rare red blood cell autosomal recessive disorder that results in chronic non-spherocytic hemolytic anemia; and infantile malignant osteopetrosis, a genetic disorder characterized by increased bone density and bone mass secondary to impaired bone resorption.

Further Reading: Front-End Load

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Institutional Ownership by Quarter for Rocket Pharmaceuticals (NASDAQ:RCKT)

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