Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lowered its position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 5.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,317,969 shares of the biotechnology company's stock after selling 68,736 shares during the quarter. Pictet Asset Management Holding SA owned approximately 1.45% of Rocket Pharmaceuticals worth $16,567,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Signaturefd LLC lifted its stake in shares of Rocket Pharmaceuticals by 319.8% in the fourth quarter. Signaturefd LLC now owns 4,916 shares of the biotechnology company's stock worth $62,000 after buying an additional 3,745 shares in the last quarter. Harbour Investments Inc. lifted its stake in Rocket Pharmaceuticals by 51.9% in the 4th quarter. Harbour Investments Inc. now owns 5,385 shares of the biotechnology company's stock worth $68,000 after purchasing an additional 1,840 shares in the last quarter. KBC Group NV boosted its holdings in shares of Rocket Pharmaceuticals by 159.6% during the 4th quarter. KBC Group NV now owns 5,475 shares of the biotechnology company's stock worth $69,000 after purchasing an additional 3,366 shares during the last quarter. E Fund Management Co. Ltd. purchased a new stake in shares of Rocket Pharmaceuticals in the fourth quarter valued at approximately $139,000. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Rocket Pharmaceuticals in the fourth quarter valued at approximately $141,000. Hedge funds and other institutional investors own 98.39% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on RCKT shares. Chardan Capital decreased their target price on shares of Rocket Pharmaceuticals from $62.00 to $54.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Canaccord Genuity Group lowered their price objective on Rocket Pharmaceuticals from $39.00 to $36.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. BMO Capital Markets started coverage on Rocket Pharmaceuticals in a research report on Wednesday, March 12th. They issued an "outperform" rating and a $50.00 target price on the stock. The Goldman Sachs Group lowered their price target on Rocket Pharmaceuticals from $29.00 to $15.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. Finally, Jefferies Financial Group started coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, December 18th. They issued a "buy" rating and a $29.00 price objective on the stock. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $43.00.

Rocket Pharmaceuticals Stock Down 7.9 %

Rocket Pharmaceuticals stock traded down $0.44 during mid-day trading on Friday, reaching $5.12. 4,928,125 shares of the company's stock were exchanged, compared to its average volume of 1,144,199. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06. Rocket Pharmaceuticals, Inc. has a twelve month low of $5.10 and a twelve month high of $26.98. The company has a market cap of $545.95 million, a P/E ratio of -1.86 and a beta of 1.00. The company has a fifty day moving average of $9.16 and a 200-day moving average of $12.70.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last announced its quarterly earnings data on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.06. Sell-side analysts expect that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current year.

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.