State Street Corp Acquires 322,156 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

State Street Corp boosted its holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 11.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,102,022 shares of the biotechnology company’s stock after purchasing an additional 322,156 shares during the quarter. State Street Corp’s holdings in Rocket Pharmaceuticals were worth $57,294,000 as of its most recent SEC filing.

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

Insider Activity

In other news, CEO Gaurav Shah sold 11,091 shares of Rocket Pharmaceuticals stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $13.05, for a total value of $144,737.55. Following the completion of the transaction, the chief executive officer now directly owns 707,328 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 13,490 shares of company stock valued at $176,045 over the last quarter. Company insiders own 28.50% of the company’s stock.

Rocket Pharmaceuticals Trading Down 1.5 %

Shares of Rocket Pharmaceuticals stock opened at $11.74 on Thursday. The stock has a market capitalization of $1.07 billion, a P/E ratio of -4.27 and a beta of 1.01. Rocket Pharmaceuticals, Inc. has a 52-week low of $11.58 and a 52-week high of $32.53. 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 stock’s 50-day simple moving average is $15.42 and its 200 day simple moving average is $18.77.

Wall Street Analyst Weigh In

RCKT has been the subject of several analyst reports. Jefferies Financial Group assumed coverage on shares of Rocket Pharmaceuticals in a report on Wednesday. They issued a “buy” rating and a $29.00 target price for the company. Scotiabank began coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 price objective for the company. Chardan Capital restated a “buy” rating and issued a $62.00 target price on shares of Rocket Pharmaceuticals in a research note on Monday, November 18th. Leerink Partners decreased their price target on 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, Needham & Company LLC reissued a “buy” rating and issued a $52.00 price objective 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 issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Rocket Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $48.80.

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.