Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Position Decreased by HighTower Advisors LLC

HighTower Advisors LLC lowered its holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 22.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,821 shares of the biotechnology company’s stock after selling 5,556 shares during the period. HighTower Advisors LLC’s holdings in Rocket Pharmaceuticals were worth $346,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Westfield Capital Management Co. LP grew its position in Rocket Pharmaceuticals by 3.8% in the third quarter. Westfield Capital Management Co. LP now owns 4,493,833 shares of the biotechnology company’s stock worth $83,001,000 after buying an additional 165,911 shares during the last quarter. Maverick Capital Ltd. grew its holdings in shares of Rocket Pharmaceuticals by 4.8% in 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. Novo Holdings A S raised its position in shares of Rocket Pharmaceuticals by 4.8% during the second quarter. Novo Holdings A S now owns 1,100,000 shares of the biotechnology company’s stock worth $23,683,000 after purchasing an additional 50,000 shares during the period. First Turn Management LLC raised its position in shares of Rocket Pharmaceuticals by 10.8% during the third quarter. First Turn Management LLC now owns 621,306 shares of the biotechnology company’s stock worth $11,476,000 after purchasing an additional 60,317 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Rocket Pharmaceuticals by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 569,814 shares of the biotechnology company’s stock valued at $10,524,000 after purchasing an additional 20,322 shares during the last quarter. 98.39% of the stock is currently owned by institutional investors.

Rocket Pharmaceuticals Stock Performance

NASDAQ:RCKT opened at $11.56 on Monday. The firm has a market capitalization of $1.05 billion, a PE ratio of -4.20 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 current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06. The firm’s fifty day simple moving average is $15.11 and its 200 day simple moving average is $18.57.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Leerink Partners cut their price objective on Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating on the stock in a report on Tuesday, November 19th. Scotiabank began coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $39.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Finally, Jefferies Financial Group assumed coverage on Rocket Pharmaceuticals in a report on Wednesday, December 18th. They set a “buy” rating and a $29.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $48.80.

Insider Transactions at Rocket Pharmaceuticals

In related news, CEO Gaurav Shah sold 11,091 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were 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 of the company’s stock, valued at approximately $9,230,630.40. The trade was a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have sold 13,490 shares of company stock worth $176,045. Company insiders own 28.50% of the company’s stock.

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.