Verition Fund Management LLC Takes Position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Verition Fund 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 filing with the SEC. The firm bought 15,681 shares of the biotechnology company’s stock, valued at approximately $290,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Westfield Capital Management Co. LP increased its holdings in shares of 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 buying an additional 165,911 shares in the last quarter. Maverick Capital Ltd. grew its position in Rocket Pharmaceuticals by 1.0% during the 2nd quarter. Maverick Capital Ltd. now owns 3,928,312 shares of the biotechnology company’s stock worth $84,577,000 after acquiring an additional 40,000 shares during the last quarter. Novo Holdings A S increased its holdings in Rocket Pharmaceuticals by 4.8% during the 2nd quarter. Novo Holdings A S now owns 1,100,000 shares of the biotechnology company’s stock valued at $23,683,000 after purchasing an additional 50,000 shares in the last quarter. First Turn Management LLC raised 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 valued at $11,476,000 after purchasing an additional 60,317 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Rocket Pharmaceuticals by 3.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 569,814 shares of the biotechnology company’s stock worth $10,524,000 after purchasing an additional 20,322 shares in the last quarter. 98.39% of the stock is owned by institutional investors.

Rocket Pharmaceuticals Stock Performance

Shares of Rocket Pharmaceuticals stock opened at $12.02 on Friday. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of -4.37 and a beta of 1.01. The firm has a fifty day moving average of $15.63 and a two-hundred day moving average of $18.92. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05. Rocket Pharmaceuticals, Inc. has a 52 week low of $11.76 and a 52 week high of $32.53.

Analysts Set New Price Targets

RCKT has been the subject of a number of research analyst reports. Chardan Capital reaffirmed a “buy” rating and issued a $62.00 price target on shares of Rocket Pharmaceuticals in a report on Monday, November 18th. Leerink Partners dropped their target price on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating for the company in a research note on Tuesday, November 19th. Scotiabank assumed coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $50.00 target price on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $39.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Rocket Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $51.00.

Insiders Place Their Bets

In other Rocket Pharmaceuticals news, CEO Gaurav Shah sold 11,091 shares of the stock in a transaction that occurred on 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 $9,230,630.40. This represents a 1.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 13,490 shares of company stock worth $176,045 in the last 90 days. Company insiders own 28.50% of the company’s stock.

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.