First Turn Management LLC Purchases 60,317 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

First Turn Management LLC raised its position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 10.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 621,306 shares of the biotechnology company's stock after acquiring an additional 60,317 shares during the quarter. First Turn Management LLC owned approximately 0.68% of Rocket Pharmaceuticals worth $11,476,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in RCKT. Pier 88 Investment Partners LLC boosted its position in shares of Rocket Pharmaceuticals by 5.1% during the third quarter. Pier 88 Investment Partners LLC now owns 32,490 shares of the biotechnology company's stock valued at $600,000 after purchasing an additional 1,590 shares in the last quarter. Privium Fund Management B.V. grew its position in shares of Rocket Pharmaceuticals by 17.5% in the 3rd quarter. Privium Fund Management B.V. now owns 294,800 shares of the biotechnology company's stock worth $5,445,000 after buying an additional 43,820 shares during the period. Harbor Capital Advisors Inc. increased its stake in shares of Rocket Pharmaceuticals by 73.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 168,506 shares of the biotechnology company's stock worth $3,112,000 after acquiring an additional 71,372 shares in the last quarter. VELA Investment Management LLC increased its stake in shares of Rocket Pharmaceuticals by 49.0% in the 3rd quarter. VELA Investment Management LLC now owns 30,959 shares of the biotechnology company's stock worth $572,000 after acquiring an additional 10,186 shares in the last quarter. Finally, Rice Hall James & Associates LLC lifted its position in Rocket Pharmaceuticals by 22.2% during the 3rd quarter. Rice Hall James & Associates LLC now owns 92,142 shares of the biotechnology company's stock valued at $1,702,000 after acquiring an additional 16,719 shares during the period. Institutional investors own 98.39% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on RCKT shares. Scotiabank began coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, October 16th. They set a "sector outperform" rating and a $50.00 target price for the company. JPMorgan Chase & Co. lifted their price objective on Rocket Pharmaceuticals from $50.00 to $54.00 and gave the company an "overweight" rating in a research note on Tuesday, August 6th. Leerink Partners dropped their target price on Rocket Pharmaceuticals from $46.00 to $44.00 and set an "outperform" rating on the stock in a report on Tuesday. Cantor Fitzgerald restated an "overweight" rating and set a $65.00 price target on shares of Rocket Pharmaceuticals in a report on Tuesday. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $52.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, Rocket Pharmaceuticals currently has an average rating of "Moderate Buy" and an average target price of $51.00.

Rocket Pharmaceuticals Stock Performance

RCKT traded down $0.50 during midday trading on Tuesday, hitting $13.16. 1,816,448 shares of the company traded hands, compared to its average volume of 790,355. The company's 50-day moving average is $17.50 and its 200 day moving average is $20.03. 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 firm has a market capitalization of $1.20 billion, a PE ratio of -4.79 and a beta of 1.09. Rocket Pharmaceuticals, Inc. has a 52 week low of $13.07 and a 52 week high of $32.53.

Rocket Pharmaceuticals Company 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.