State Street Corp Buys 322,156 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

State Street Corp lifted its stake in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 11.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,102,022 shares of the biotechnology company’s stock after purchasing an additional 322,156 shares during the quarter. State Street Corp owned 3.40% of Rocket Pharmaceuticals worth $57,294,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in RCKT. Point72 Asset Management L.P. bought a new stake in shares of Rocket Pharmaceuticals during the third quarter worth $888,000. Erste Asset Management GmbH acquired a new stake in shares of Rocket Pharmaceuticals during the 3rd quarter valued at $825,000. Maverick Capital Ltd. grew its position in Rocket Pharmaceuticals by 4.8% during the 3rd quarter. Maverick Capital Ltd. now owns 4,118,672 shares of the biotechnology company’s stock worth $76,072,000 after acquiring an additional 190,360 shares during the last quarter. Verition Fund Management LLC acquired a new position in Rocket Pharmaceuticals in the 3rd quarter worth about $290,000. Finally, Rockefeller Capital Management L.P. raised its position in Rocket Pharmaceuticals by 24.1% in the third quarter. Rockefeller Capital Management L.P. now owns 107,912 shares of the biotechnology company’s stock valued at $1,993,000 after purchasing an additional 20,939 shares during the last quarter. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, CEO Gaurav Shah sold 11,091 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $13.05, for a total value of $144,737.55. Following the transaction, the chief executive officer now owns 707,328 shares in the company, valued at approximately $9,230,630.40. This represents a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 13,490 shares of company stock worth $176,045 in the last quarter. Company insiders own 28.50% of the company’s stock.

Rocket Pharmaceuticals Trading Down 1.5 %

Shares of RCKT stock opened at $11.74 on Thursday. The company has a market cap of $1.07 billion, a P/E ratio of -4.27 and a beta of 1.01. Rocket Pharmaceuticals, Inc. has a fifty-two week low of $11.58 and a fifty-two week high of $32.53. The stock has a 50 day simple moving average of $15.42 and a two-hundred day simple moving average of $18.77. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05.

Analysts Set New Price Targets

RCKT has been the topic of several research reports. Jefferies Financial Group started coverage on Rocket Pharmaceuticals in a report on Wednesday. They set a “buy” rating and a $29.00 price target on the stock. Chardan Capital reissued a “buy” rating and set a $62.00 target price on shares of Rocket Pharmaceuticals in a report on Monday, November 18th. Leerink Partners cut their price target on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating on the stock in a report on Tuesday, November 19th. Needham & Company LLC reissued a “buy” rating and issued a $52.00 price objective on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Finally, Scotiabank began coverage on Rocket Pharmaceuticals in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $50.00 target price for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Rocket Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $48.80.

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.