Intech Investment Management LLC Acquires Shares of 28,555 Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Intech Investment Management LLC bought a new position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 28,555 shares of the biotechnology company’s stock, valued at approximately $527,000.

Several other hedge funds have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its position in Rocket Pharmaceuticals by 31.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock valued at $68,000 after purchasing an additional 764 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Rocket Pharmaceuticals by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock valued at $61,000 after acquiring an additional 582 shares during the last quarter. Values First Advisors Inc. acquired a new stake in Rocket Pharmaceuticals during the 3rd quarter worth $108,000. SG Americas Securities LLC bought a new stake in shares of Rocket Pharmaceuticals during the 3rd quarter valued at $113,000. Finally, Dana Investment Advisors Inc. lifted its stake in shares of Rocket Pharmaceuticals by 4.4% in the 2nd quarter. Dana Investment Advisors Inc. now owns 13,847 shares of the biotechnology company’s stock valued at $298,000 after purchasing an additional 586 shares during the period. Institutional investors own 98.39% of the company’s stock.

Rocket Pharmaceuticals Stock Up 1.3 %

Shares of Rocket Pharmaceuticals stock opened at $14.39 on Monday. The business’s 50 day simple moving average is $16.50 and its 200 day simple moving average is $19.54. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05. The firm has a market cap of $1.31 billion, a PE ratio of -5.23 and a beta of 1.09. Rocket Pharmaceuticals, Inc. has a 52-week low of $12.62 and a 52-week high of $32.53.

Insider Activity at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, CEO Gaurav Shah sold 11,091 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $13.05, for a total value of $144,737.55. Following the transaction, the chief executive officer now directly owns 707,328 shares in the company, valued at $9,230,630.40. The trade was a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders sold 13,490 shares of company stock valued at $176,045. 28.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

RCKT has been the subject of a number of recent analyst reports. Scotiabank initiated coverage on Rocket Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 price objective for the company. Cantor Fitzgerald restated an “overweight” rating and set a $65.00 price objective on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. JPMorgan Chase & Co. lifted their price target on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Leerink Partners lowered their price objective on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating for the company in a research report on Tuesday, November 19th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $39.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $51.00.

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.