Hennion & Walsh Asset Management Inc. Purchases 16,453 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Hennion & Walsh Asset Management Inc. raised its position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 7.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 237,499 shares of the biotechnology company’s stock after acquiring an additional 16,453 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Rocket Pharmaceuticals were worth $2,985,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of RCKT. 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. Renaissance Technologies LLC acquired a new position in Rocket Pharmaceuticals in the second quarter worth $2,144,000. First Turn Management LLC grew its holdings in shares of Rocket Pharmaceuticals by 10.8% during the third quarter. First Turn Management LLC now owns 621,306 shares of the biotechnology company’s stock worth $11,476,000 after purchasing an additional 60,317 shares during the last quarter. Walleye Capital LLC acquired a new stake in shares of Rocket Pharmaceuticals in the third quarter valued at $2,556,000. Finally, Maverick Capital Ltd. raised its holdings in shares of 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 buying an additional 40,000 shares during the last quarter. Institutional investors own 98.39% of the company’s stock.

Insider Buying and Selling

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 sale, the chief executive officer now directly owns 707,328 shares in the company, valued at $9,230,630.40. This trade represents a 1.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 13,490 shares of company stock valued at $176,045 over the last three months. Company insiders own 28.50% of the company’s stock.

Rocket Pharmaceuticals Stock Performance

RCKT stock opened at $10.21 on Friday. Rocket Pharmaceuticals, Inc. has a twelve month low of $10.12 and a twelve month high of $31.47. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06. The company has a market cap of $930.71 million, a P/E ratio of -3.71 and a beta of 1.01. The business’s fifty day moving average is $12.96 and its 200-day moving average is $17.22.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Canaccord Genuity Group restated a “buy” rating and issued a $39.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Needham & Company LLC reissued a “buy” rating and set a $52.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Cantor Fitzgerald restated an “overweight” rating and issued a $65.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Leerink Partners decreased their price objective on Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 19th. Finally, Chardan Capital reissued a “buy” rating and issued a $62.00 target price on shares of Rocket Pharmaceuticals in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.27.

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.