Geode Capital Management LLC Boosts Stock Position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Geode Capital Management LLC boosted its position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 0.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,617,866 shares of the biotechnology company’s stock after acquiring an additional 14,256 shares during the quarter. Geode Capital Management LLC owned 1.77% of Rocket Pharmaceuticals worth $29,888,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of RCKT. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Rocket Pharmaceuticals by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock worth $61,000 after purchasing an additional 582 shares in the last quarter. Values First Advisors Inc. acquired a new stake in Rocket Pharmaceuticals during the 3rd quarter worth approximately $108,000. SG Americas Securities LLC purchased a new position in Rocket Pharmaceuticals in the 3rd quarter valued at approximately $113,000. XTX Topco Ltd acquired a new position in shares of Rocket Pharmaceuticals in the third quarter worth $286,000. Finally, Verition Fund Management LLC purchased a new stake in shares of Rocket Pharmaceuticals during the third quarter worth $290,000. 98.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RCKT shares. Jefferies Financial Group assumed coverage on Rocket Pharmaceuticals in a report on Wednesday, December 18th. They issued a “buy” rating and a $29.00 target price for the company. Chardan Capital reissued a “buy” rating and set a $62.00 price objective on shares of Rocket Pharmaceuticals in a research report on Monday, November 18th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $39.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $65.00 price objective on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $48.80.

Insider Activity

In related news, CEO Gaurav Shah sold 11,091 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $13.05, for a total transaction of $144,737.55. Following the transaction, the chief executive officer now owns 707,328 shares in the company, valued at $9,230,630.40. This trade represents a 1.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last three months, insiders sold 13,490 shares of company stock valued at $176,045. Insiders own 28.50% of the company’s stock.

Rocket Pharmaceuticals Stock Performance

NASDAQ RCKT opened at $12.02 on Friday. The company has a fifty day moving average of $14.64 and a two-hundred day moving average of $18.29. The company has a market capitalization of $1.10 billion, a PE ratio of -4.37 and a beta of 1.01. Rocket Pharmaceuticals, Inc. has a 1 year low of $11.15 and a 1 year high of $32.53. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05.

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.