HighTower Advisors LLC Has $346,000 Position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

HighTower Advisors LLC trimmed its holdings in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 22.8% in the third quarter, Holdings Channel.com reports. The fund owned 18,821 shares of the biotechnology company’s stock after selling 5,556 shares during the quarter. HighTower Advisors LLC’s holdings in Rocket Pharmaceuticals were worth $346,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in RCKT. Novo Holdings A S lifted its stake in Rocket Pharmaceuticals by 4.8% during the second 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 period. Renaissance Technologies LLC acquired a new position in shares of Rocket Pharmaceuticals in the 2nd quarter worth approximately $2,144,000. First Turn Management LLC lifted its position in shares of Rocket Pharmaceuticals by 10.8% during the 3rd quarter. First Turn Management LLC now owns 621,306 shares of the biotechnology company’s stock worth $11,476,000 after buying an additional 60,317 shares during the period. Maverick Capital Ltd. grew its position in Rocket Pharmaceuticals by 1.0% in the second quarter. Maverick Capital Ltd. now owns 3,928,312 shares of the biotechnology company’s stock valued at $84,577,000 after acquiring an additional 40,000 shares during the period. Finally, Westfield Capital Management Co. LP raised its stake 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 in the last quarter. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Rocket Pharmaceuticals Trading Up 1.9 %

Shares of NASDAQ:RCKT opened at $11.56 on Monday. The company’s 50-day moving average price is $15.11 and its two-hundred day moving average price is $18.57. Rocket Pharmaceuticals, Inc. has a one year low of $11.15 and a one year high of $32.53. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05. The stock has a market capitalization of $1.05 billion, a PE ratio of -4.20 and a beta of 1.01.

Analyst Ratings Changes

Several equities research analysts have recently commented on RCKT shares. Canaccord Genuity Group restated a “buy” rating and issued a $39.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Leerink Partners decreased 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 note on Tuesday, November 19th. Scotiabank initiated coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $50.00 price objective for the company. 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. Finally, Chardan Capital reaffirmed a “buy” rating and set a $62.00 price target on shares of Rocket Pharmaceuticals in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $48.80.

Insider Buying and Selling at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, CEO Gaurav Shah sold 11,091 shares of the 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 sale, the chief executive officer now owns 707,328 shares in the company, valued at $9,230,630.40. This trade represents a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 13,490 shares of company stock worth $176,045 over the last ninety days. 28.50% of the stock is currently owned by corporate insiders.

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.