SG Americas Securities LLC grew its stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT – Free Report) by 796.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 54,921 shares of the biotechnology company’s stock after purchasing an additional 48,793 shares during the period. SG Americas Securities LLC’s holdings in Rocket Pharmaceuticals were worth $690,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in 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 valued at $61,000 after buying an additional 582 shares during the period. Dana Investment Advisors Inc. increased its position in Rocket Pharmaceuticals by 4.4% during the second quarter. Dana Investment Advisors Inc. now owns 13,847 shares of the biotechnology company’s stock valued at $298,000 after acquiring an additional 586 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Rocket Pharmaceuticals by 1.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 119,633 shares of the biotechnology company’s stock valued at $2,210,000 after acquiring an additional 1,561 shares during the period. Pier 88 Investment Partners LLC lifted its holdings in shares of Rocket Pharmaceuticals by 5.1% in the 3rd quarter. Pier 88 Investment Partners LLC now owns 32,490 shares of the biotechnology company’s stock worth $600,000 after acquiring an additional 1,590 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Rocket Pharmaceuticals by 9.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,767 shares of the biotechnology company’s stock worth $347,000 after purchasing an additional 1,675 shares during the period. Hedge funds and other institutional investors own 98.39% of the company’s stock.
Wall Street Analysts Forecast Growth
RCKT has been the topic of a number of recent analyst reports. Leerink Partners reduced their price objective on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 19th. Scotiabank started coverage on Rocket Pharmaceuticals in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $50.00 target price on the stock. Wedbush started coverage on Rocket Pharmaceuticals in a research note on Monday, December 30th. They set an “outperform” rating and a $32.00 price target for the company. Jefferies Financial Group assumed coverage on Rocket Pharmaceuticals in a research report on Wednesday, December 18th. They issued a “buy” rating and a $29.00 price objective on the stock. Finally, Chardan Capital reiterated a “buy” rating and issued a $62.00 target price on shares of Rocket Pharmaceuticals in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.27.
Insider Activity
In related 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 value of $144,737.55. Following the completion of the transaction, the chief executive officer now directly owns 707,328 shares of the company’s stock, valued at $9,230,630.40. This trade represents a 1.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last ninety days, insiders have sold 14,386 shares of company stock worth $185,345. Corporate insiders own 28.50% of the company’s stock.
Rocket Pharmaceuticals Stock Up 2.7 %
NASDAQ:RCKT opened at $10.69 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05. Rocket Pharmaceuticals, Inc. has a 1-year low of $10.07 and a 1-year high of $31.47. The company has a 50-day moving average of $12.12 and a 200 day moving average of $16.50. The firm has a market cap of $974.50 million, a PE ratio of -3.89 and a beta of 1.01.
Rocket Pharmaceuticals (NASDAQ:RCKT – Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.71) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.07. As a group, research analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current fiscal year.
Rocket Pharmaceuticals 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.
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