Thrivent Financial for Lutherans Sells 21,731 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Thrivent Financial for Lutherans trimmed its stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 28.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,446 shares of the biotechnology company’s stock after selling 21,731 shares during the period. Thrivent Financial for Lutherans owned approximately 0.06% of Rocket Pharmaceuticals worth $671,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of RCKT. Wellington Management Group LLP grew its stake in shares of Rocket Pharmaceuticals by 22.8% during the third quarter. Wellington Management Group LLP now owns 11,242,144 shares of the biotechnology company’s stock valued at $207,642,000 after buying an additional 2,086,424 shares during the last quarter. State Street Corp boosted its holdings in Rocket Pharmaceuticals by 11.6% during the 3rd quarter. State Street Corp now owns 3,102,022 shares of the biotechnology company’s stock valued at $57,294,000 after acquiring an additional 322,156 shares during the period. Sovran Advisors LLC bought a new position in Rocket Pharmaceuticals in the 4th quarter valued at $1,895,000. Walleye Capital LLC purchased a new stake in Rocket Pharmaceuticals in the third quarter worth $2,556,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Rocket Pharmaceuticals by 15.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 656,090 shares of the biotechnology company’s stock worth $8,247,000 after purchasing an additional 86,276 shares during the last quarter. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on RCKT shares. Canaccord Genuity Group cut their price target on shares of Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. The Goldman Sachs Group dropped their target price on shares of Rocket Pharmaceuticals from $29.00 to $15.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Wedbush started coverage on Rocket Pharmaceuticals in a research note on Monday, December 30th. They issued an “outperform” rating and a $32.00 price objective on the stock. Scotiabank increased their target price on shares of Rocket Pharmaceuticals from $51.00 to $52.00 and gave the stock a “sector outperform” rating in a report on Monday, March 3rd. Finally, BMO Capital Markets initiated coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, March 12th. They set an “outperform” rating and a $50.00 price objective on the stock. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Rocket Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

Rocket Pharmaceuticals Stock Up 8.4 %

Shares of RCKT stock opened at $6.30 on Thursday. The stock’s fifty day moving average price is $9.38 and its 200 day moving average price is $12.96. 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, Inc. has a 1-year low of $5.70 and a 1-year high of $26.98. The company has a market cap of $671.77 million, a price-to-earnings ratio of -2.29 and a beta of 1.00.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.06. On average, research analysts expect that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current fiscal year.

About Rocket Pharmaceuticals

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.