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

Geode Capital Management LLC raised its stake in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,617,866 shares of the biotechnology company’s stock after acquiring an additional 14,256 shares during the period. Geode Capital Management LLC’s holdings in Rocket Pharmaceuticals were worth $29,888,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in RCKT. Wellington Management Group LLP increased its holdings in shares of Rocket Pharmaceuticals by 22.8% in 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 purchasing an additional 2,086,424 shares during the period. State Street Corp grew its position in Rocket Pharmaceuticals by 11.6% in the 3rd quarter. State Street Corp now owns 3,102,022 shares of the biotechnology company’s stock valued at $57,294,000 after buying an additional 322,156 shares during the last quarter. First Turn Management LLC increased its stake in Rocket Pharmaceuticals by 123.6% in the 2nd quarter. First Turn Management LLC now owns 560,989 shares of the biotechnology company’s stock valued at $12,078,000 after buying an additional 310,119 shares during the period. Maverick Capital Ltd. raised 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 buying an additional 190,360 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted its stake in shares of Rocket Pharmaceuticals by 3.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 4,493,833 shares of the biotechnology company’s stock worth $83,001,000 after acquiring an additional 165,911 shares during the period. 98.39% of the stock is owned by institutional investors and hedge funds.

Rocket Pharmaceuticals Trading Up 2.9 %

NASDAQ:RCKT opened at $12.02 on Friday. Rocket Pharmaceuticals, Inc. has a 52-week low of $11.15 and a 52-week high of $32.53. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06. The stock has a fifty day simple moving average of $14.64 and a 200-day simple 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.

Analyst Upgrades and Downgrades

RCKT has been the topic of a number of recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $65.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Scotiabank assumed coverage on Rocket Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 price objective on the stock. Leerink Partners cut their target price on Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating for the company in a research note on Tuesday, November 19th. Canaccord Genuity Group reissued a “buy” rating and issued a $39.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Finally, Jefferies Financial Group started coverage on Rocket Pharmaceuticals in a report on Wednesday, December 18th. They set a “buy” rating and a $29.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Rocket Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $48.80.

Insider Buying and Selling at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, CEO Gaurav Shah sold 11,091 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 707,328 shares of the company’s stock, valued at approximately $9,230,630.40. This trade represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders sold 13,490 shares of company stock worth $176,045. 28.50% 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.