Mirador Capital Partners LP Buys New Position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Mirador Capital Partners LP purchased a new stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 16,774 shares of the biotechnology company’s stock, valued at approximately $310,000.

Other institutional investors have also added to or reduced their stakes in the company. Avoro Capital Advisors LLC lifted its stake in shares of Rocket Pharmaceuticals by 0.9% during the fourth quarter. Avoro Capital Advisors LLC now owns 1,260,900 shares of the biotechnology company’s stock worth $37,789,000 after buying an additional 10,900 shares during the period. Bellevue Group AG acquired a new position in shares of Rocket Pharmaceuticals in the fourth quarter valued at about $629,000. Avidity Partners Management LP raised its stake in shares of Rocket Pharmaceuticals by 8.3% in the fourth quarter. Avidity Partners Management LP now owns 1,719,103 shares of the biotechnology company’s stock worth $51,522,000 after purchasing an additional 131,674 shares during the last quarter. Frazier Life Sciences Management L.P. lifted its holdings in shares of Rocket Pharmaceuticals by 8.6% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 1,523,013 shares of the biotechnology company’s stock worth $45,645,000 after purchasing an additional 120,000 shares during the period. Finally, Old Well Partners LLC purchased a new stake in Rocket Pharmaceuticals in the fourth quarter valued at approximately $200,000. Institutional investors and hedge funds own 98.39% of the company’s stock.

Rocket Pharmaceuticals Price Performance

NASDAQ:RCKT opened at $16.41 on Friday. 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 $15.98 and a 52 week high of $32.53. The stock’s 50-day moving average price is $19.35 and its 200-day moving average price is $21.84. The stock has a market capitalization of $1.49 billion, a PE ratio of -5.72 and a beta of 1.09.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly earnings data on Monday, August 5th. The biotechnology company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.02). During the same quarter in the prior year, the business earned ($0.82) earnings per share. As a group, equities analysts expect that Rocket Pharmaceuticals, Inc. will post -2.97 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RCKT has been the subject of a number of recent research reports. Canaccord Genuity Group reissued a “buy” rating and set a $38.00 price target on shares of Rocket Pharmaceuticals in a research report on Monday, September 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, August 6th. JPMorgan Chase & Co. upped their price target on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Chardan Capital reiterated a “buy” rating and set a $62.00 price objective on shares of Rocket Pharmaceuticals in a research note on Tuesday, August 6th. Finally, Needham & Company LLC restated a “buy” rating and issued a $52.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, September 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $52.00.

Insider Activity at Rocket Pharmaceuticals

In other news, insider Mark Andrew White sold 3,026 shares of Rocket Pharmaceuticals stock in a transaction dated 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 31.10% of the stock is owned by corporate insiders.

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.