44,700 Shares in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Purchased by Erste Asset Management GmbH

Erste Asset Management GmbH acquired a new stake in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 44,700 shares of the biotechnology company's stock, valued at approximately $825,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Novo Holdings A S boosted its stake 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 during the period. Renaissance Technologies LLC acquired a new stake in shares of Rocket Pharmaceuticals in the 2nd quarter worth approximately $2,144,000. First Turn Management LLC lifted its stake in Rocket Pharmaceuticals by 10.8% during the third quarter. First Turn Management LLC now owns 621,306 shares of the biotechnology company's stock valued at $11,476,000 after purchasing an additional 60,317 shares during the last quarter. Maverick Capital Ltd. lifted its stake in Rocket Pharmaceuticals by 1.0% during the second quarter. Maverick Capital Ltd. now owns 3,928,312 shares of the biotechnology company's stock valued at $84,577,000 after purchasing an additional 40,000 shares during the last quarter. Finally, Westfield Capital Management Co. LP lifted 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 valued at $83,001,000 after purchasing an additional 165,911 shares during the last quarter. 98.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RCKT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of 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 reiterated a "buy" rating and issued a $52.00 price objective on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Leerink Partners dropped 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. Cantor Fitzgerald reiterated an "overweight" rating and issued a $65.00 price objective on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Finally, Chardan Capital reiterated a "buy" rating and issued a $62.00 price objective on shares of Rocket Pharmaceuticals in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.00.

Rocket Pharmaceuticals Stock Performance

Shares of NASDAQ RCKT traded up $0.08 during trading hours on Wednesday, hitting $13.58. 953,853 shares of the stock were exchanged, compared to its average volume of 798,552. 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 company's 50 day moving average is $16.30 and its 200 day moving average is $19.38. The firm has a market capitalization of $1.24 billion, a P/E ratio of -5.00 and a beta of 1.01. Rocket Pharmaceuticals, Inc. has a one year low of $12.62 and a one year high of $32.53.

Insider Buying and Selling at Rocket Pharmaceuticals

In other 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 transaction, the chief executive officer now owns 707,328 shares in the company, valued at approximately $9,230,630.40. This represents a 1.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 13,490 shares of company stock valued at $176,045 in the last ninety days. Company 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.