UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 1,561 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 1.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 119,633 shares of the biotechnology company’s stock after purchasing an additional 1,561 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.13% of Rocket Pharmaceuticals worth $2,210,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RCKT. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Rocket Pharmaceuticals by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock worth $61,000 after buying an additional 582 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Rocket Pharmaceuticals by 31.9% in the second quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock valued at $68,000 after acquiring an additional 764 shares during the last quarter. Values First Advisors Inc. bought a new position in Rocket Pharmaceuticals in the third quarter valued at about $108,000. SG Americas Securities LLC acquired a new position in Rocket Pharmaceuticals during the third quarter worth about $113,000. Finally, Dana Investment Advisors Inc. lifted its holdings in shares of Rocket Pharmaceuticals by 4.4% in the second 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. 98.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on RCKT shares. Canaccord Genuity Group reaffirmed a “buy” rating and set a $39.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Leerink Partners lowered their price target 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. Scotiabank started coverage on Rocket Pharmaceuticals in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $50.00 price objective on the stock. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $62.00 target price on shares of Rocket Pharmaceuticals in a report on Monday, November 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.00.

Insider Buying and Selling

In other news, CEO Gaurav Shah sold 11,091 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were 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 in the company, valued at approximately $9,230,630.40. This represents a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 13,490 shares of company stock valued at $176,045 over the last 90 days. Company insiders own 28.50% of the company’s stock.

Rocket Pharmaceuticals Stock Performance

RCKT stock opened at $12.02 on Monday. The firm has a market cap of $1.10 billion, a PE ratio of -4.37 and a beta of 1.01. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06. The stock has a 50-day moving average price of $15.63 and a 200-day moving average price of $18.90. Rocket Pharmaceuticals, Inc. has a 1-year low of $11.76 and a 1-year high of $32.53.

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.