Rockefeller Capital Management L.P. Acquires 20,939 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Rockefeller Capital Management L.P. grew its holdings in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 24.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,912 shares of the biotechnology company’s stock after buying an additional 20,939 shares during the quarter. Rockefeller Capital Management L.P. owned approximately 0.12% of Rocket Pharmaceuticals worth $1,993,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RCKT. Nisa Investment Advisors LLC raised its holdings in shares of Rocket Pharmaceuticals by 31.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock valued at $68,000 after purchasing an additional 764 shares during the period. EFG Asset Management North America Corp. raised its holdings in shares of Rocket Pharmaceuticals by 47.0% in the 2nd quarter. EFG Asset Management North America Corp. now owns 222,046 shares of the biotechnology company’s stock valued at $4,780,000 after purchasing an additional 71,044 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Rocket Pharmaceuticals by 10.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 239,877 shares of the biotechnology company’s stock valued at $5,165,000 after purchasing an additional 22,521 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Rocket Pharmaceuticals by 30.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,092 shares of the biotechnology company’s stock valued at $368,000 after purchasing an additional 3,995 shares during the period. Finally, Privium Fund Management B.V. raised its holdings in shares of Rocket Pharmaceuticals by 6.8% in the 2nd quarter. Privium Fund Management B.V. now owns 250,980 shares of the biotechnology company’s stock valued at $4,964,000 after purchasing an additional 15,930 shares during the period. 98.39% of the stock is owned by institutional investors.

Rocket Pharmaceuticals Stock Performance

Shares of NASDAQ:RCKT opened at $13.89 on Friday. The company’s 50 day moving average price is $16.02 and its two-hundred day moving average price is $19.24. Rocket Pharmaceuticals, Inc. has a 12-month low of $12.62 and a 12-month high of $32.53. The firm has a market cap of $1.27 billion, a PE ratio of -5.05 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.

Wall Street Analyst Weigh In

A number of research analysts recently commented on RCKT shares. Scotiabank started coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Chardan Capital reiterated a “buy” rating and issued a $62.00 price target on shares of Rocket Pharmaceuticals in a research note on Monday, November 18th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $39.00 price target on shares of Rocket Pharmaceuticals in a research note 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $51.00.

Insiders Place Their Bets

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 transaction of $144,737.55. Following the sale, the chief executive officer now owns 707,328 shares in the company, valued at approximately $9,230,630.40. This trade represents a 1.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 13,490 shares of company stock worth $176,045 in the last quarter. Corporate insiders own 28.50% of the company’s stock.

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.