Acuta Capital Partners LLC Sells 60,370 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Acuta Capital Partners LLC lowered its stake in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 24.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 190,000 shares of the biotechnology company's stock after selling 60,370 shares during the quarter. Rocket Pharmaceuticals comprises 2.8% of Acuta Capital Partners LLC's portfolio, making the stock its 14th largest position. Acuta Capital Partners LLC owned approximately 0.21% of Rocket Pharmaceuticals worth $3,509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Harbor Capital Advisors Inc. lifted its stake in shares of Rocket Pharmaceuticals by 19.3% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 97,134 shares of the biotechnology company's stock valued at $2,091,000 after purchasing an additional 15,708 shares during the period. Nisa Investment Advisors LLC grew its position 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 worth $68,000 after buying an additional 764 shares during the period. EFG Asset Management North America Corp. increased its stake 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 worth $4,780,000 after acquiring an additional 71,044 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Rocket Pharmaceuticals by 10.4% during 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 acquiring an additional 22,521 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Rocket Pharmaceuticals by 30.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,092 shares of the biotechnology company's stock worth $368,000 after acquiring an additional 3,995 shares in the last quarter. 98.39% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Gaurav Shah sold 11,091 shares of the business's 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 completion of the sale, the chief executive officer now directly owns 707,328 shares in the company, valued at approximately $9,230,630.40. The trade was a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 13,490 shares of company stock valued at $176,045 in the last quarter. 28.50% of the stock is currently owned by insiders.

Rocket Pharmaceuticals Stock Performance

Shares of RCKT traded up $0.09 during trading hours on Thursday, hitting $14.20. The stock had a trading volume of 607,998 shares, compared to its average volume of 798,791. Rocket Pharmaceuticals, Inc. has a 12 month low of $12.62 and a 12 month high of $32.53. The stock has a fifty day moving average price of $16.76 and a 200 day moving average price of $19.66. 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 firm has a market capitalization of $1.29 billion, a PE ratio of -5.16 and a beta of 1.09.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Leerink Partners lowered their target price on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an "outperform" rating for the company in a report on Tuesday, November 19th. Canaccord Genuity Group reissued a "buy" rating and issued a $39.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. JPMorgan Chase & Co. raised their price target on Rocket Pharmaceuticals from $50.00 to $54.00 and gave the company an "overweight" rating in a report on Tuesday, August 6th. Needham & Company LLC reissued a "buy" rating and set a $52.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $65.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $51.00.

About Rocket Pharmaceuticals

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.