Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Shares Sold by Fmr LLC

Fmr LLC lessened its holdings in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 19.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 465,456 shares of the biotechnology company’s stock after selling 113,823 shares during the quarter. Fmr LLC owned about 0.51% of Rocket Pharmaceuticals worth $8,597,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Novo Holdings A S increased its position in Rocket Pharmaceuticals by 4.8% in the 2nd 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 last quarter. Renaissance Technologies LLC acquired a new position in Rocket Pharmaceuticals in the 2nd quarter worth about $2,144,000. First Turn Management LLC increased its position in Rocket Pharmaceuticals by 10.8% in the 3rd 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 last quarter. Maverick Capital Ltd. increased its position in Rocket Pharmaceuticals by 1.0% in the 2nd quarter. Maverick Capital Ltd. now owns 3,928,312 shares of the biotechnology company’s stock worth $84,577,000 after purchasing an additional 40,000 shares during the last quarter. Finally, Westfield Capital Management Co. LP boosted its stake in shares of Rocket Pharmaceuticals by 3.8% during 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 in the last quarter. Institutional investors and hedge funds own 98.39% of the company’s stock.

Rocket Pharmaceuticals Price Performance

Shares of NASDAQ RCKT opened at $13.37 on Thursday. Rocket Pharmaceuticals, Inc. has a twelve month low of $12.62 and a twelve month high of $32.53. The stock’s 50 day moving average price is $15.79 and its 200-day moving average price is $19.04. The company has a market capitalization of $1.22 billion, a PE ratio of -4.86 and a beta of 1.01. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06.

Insider Buying and Selling

In related 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 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 13,490 shares of company stock valued at $176,045. 28.50% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on RCKT shares. Leerink Partners reduced their price objective 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. Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Chardan Capital reissued a “buy” rating and issued a $62.00 target price on shares of Rocket Pharmaceuticals in a report on Monday, November 18th. Canaccord Genuity Group reissued a “buy” rating and issued a $39.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $52.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.00.

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.