Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Shares Sold by Avior Wealth Management LLC

Avior Wealth Management LLC lessened its holdings in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 7.9% in the 4th quarter, HoldingsChannel reports. The firm owned 15,195 shares of the biotechnology company’s stock after selling 1,304 shares during the quarter. Avior Wealth Management LLC’s holdings in Rocket Pharmaceuticals were worth $191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in shares of Rocket Pharmaceuticals by 22.8% during the 3rd 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. Westfield Capital Management Co. LP grew its holdings in Rocket Pharmaceuticals by 3.8% during 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 acquiring an additional 165,911 shares during the period. Maverick Capital Ltd. raised its position in Rocket Pharmaceuticals by 4.8% during the third quarter. Maverick Capital Ltd. now owns 4,118,672 shares of the biotechnology company’s stock valued at $76,072,000 after acquiring an additional 190,360 shares in the last quarter. State Street Corp lifted its holdings in Rocket Pharmaceuticals by 11.6% in the third 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. Finally, Geode Capital Management LLC boosted its position in Rocket Pharmaceuticals by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,617,866 shares of the biotechnology company’s stock worth $29,888,000 after purchasing an additional 14,256 shares in the last quarter. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Rocket Pharmaceuticals Price Performance

Rocket Pharmaceuticals stock opened at $10.71 on Tuesday. The company has a fifty day simple moving average of $12.27 and a 200-day simple moving average of $16.67. 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 firm has a market capitalization of $976.32 million, a price-to-earnings ratio of -3.89 and a beta of 1.01. Rocket Pharmaceuticals, Inc. has a 52-week low of $10.07 and a 52-week high of $31.47.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.78) by $0.07. On average, equities analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current fiscal year.

Insider Activity at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, CEO Gaurav Shah sold 11,091 shares of the business’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 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders sold 14,386 shares of company stock valued at $185,345. 28.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

RCKT has been the subject of several recent research reports. Leerink Partners cut their target price on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating for the company in a report on Tuesday, November 19th. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Cantor Fitzgerald restated an “overweight” rating and set a $65.00 target price 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 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Finally, Scotiabank began 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. One equities 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.27.

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.