Frazier Life Sciences Management L.P. Sells 75,600 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Frazier Life Sciences Management L.P. trimmed its stake in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 4.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,485,630 shares of the biotechnology company's stock after selling 75,600 shares during the period. Rocket Pharmaceuticals comprises about 1.1% of Frazier Life Sciences Management L.P.'s portfolio, making the stock its 24th largest position. Frazier Life Sciences Management L.P. owned about 1.63% of Rocket Pharmaceuticals worth $27,440,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in RCKT. Wellington Management Group LLP raised its holdings in shares of Rocket Pharmaceuticals by 22.8% during the third quarter. Wellington Management Group LLP now owns 11,242,144 shares of the biotechnology company's stock worth $207,642,000 after acquiring an additional 2,086,424 shares during the period. State Street Corp raised its holdings in shares of Rocket Pharmaceuticals by 11.6% during the third quarter. State Street Corp now owns 3,102,022 shares of the biotechnology company's stock worth $57,294,000 after acquiring an additional 322,156 shares during the period. First Turn Management LLC raised its holdings in shares of Rocket Pharmaceuticals by 123.6% during the second quarter. First Turn Management LLC now owns 560,989 shares of the biotechnology company's stock worth $12,078,000 after acquiring an additional 310,119 shares during the period. Maverick Capital Ltd. raised its holdings in shares of Rocket Pharmaceuticals by 4.8% during the third quarter. Maverick Capital Ltd. now owns 4,118,672 shares of the biotechnology company's stock worth $76,072,000 after acquiring an additional 190,360 shares during the period. Finally, Westfield Capital Management Co. LP raised its holdings in shares of 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 during the period. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RCKT has been the topic of several recent research reports. Leerink Partners lowered their price target 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 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. 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. Finally, Scotiabank initiated 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. One investment 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 company presently has an average rating of "Moderate Buy" and a consensus price target of $51.00.

Rocket Pharmaceuticals Stock Performance

Shares of Rocket Pharmaceuticals stock traded down $0.33 during trading on Tuesday, hitting $13.51. 696,199 shares of the stock were exchanged, compared to its average volume of 796,467. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -4.91 and a beta of 1.01. The company has a fifty day moving average price of $15.86 and a 200-day moving average price of $19.08. Rocket Pharmaceuticals, Inc. has a 1-year low of $12.62 and a 1-year high of $32.53. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06.

Insider Transactions at Rocket Pharmaceuticals

In related news, CEO Gaurav Shah sold 11,091 shares of Rocket Pharmaceuticals stock in a transaction dated 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 owns 707,328 shares of the company's stock, valued at approximately $9,230,630.40. The trade was a 1.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 13,490 shares of company stock worth $176,045 in the last ninety days. Insiders own 28.50% of the company's stock.

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.