Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Stock Holdings Trimmed by Alliancebernstein L.P.

Alliancebernstein L.P. cut its stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 74.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 73,760 shares of the biotechnology company's stock after selling 217,346 shares during the quarter. Alliancebernstein L.P. owned about 0.08% of Rocket Pharmaceuticals worth $927,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of RCKT. SG Americas Securities LLC increased its position in shares of Rocket Pharmaceuticals by 796.2% in the 4th quarter. SG Americas Securities LLC now owns 54,921 shares of the biotechnology company's stock valued at $690,000 after purchasing an additional 48,793 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Rocket Pharmaceuticals by 72.6% during the 4th quarter. Jennison Associates LLC now owns 70,304 shares of the biotechnology company's stock worth $884,000 after purchasing an additional 29,564 shares during the period. Mirador Capital Partners LP raised its position in Rocket Pharmaceuticals by 403.9% in the fourth quarter. Mirador Capital Partners LP now owns 84,529 shares of the biotechnology company's stock valued at $1,063,000 after purchasing an additional 67,755 shares during the period. Sovran Advisors LLC acquired a new position in Rocket Pharmaceuticals in the fourth quarter worth about $1,895,000. Finally, Strategic Financial Concepts LLC bought a new position in Rocket Pharmaceuticals in the fourth quarter worth about $141,000. 98.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RCKT has been the subject of several research reports. Chardan Capital decreased their target price on Rocket Pharmaceuticals from $62.00 to $54.00 and set a "buy" rating for the company in a research note on Friday, February 28th. The Goldman Sachs Group reduced their target price on shares of Rocket Pharmaceuticals from $29.00 to $15.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. BMO Capital Markets started coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, March 12th. They set an "outperform" rating and a $50.00 price objective on the stock. Scotiabank lifted their price objective on shares of Rocket Pharmaceuticals from $51.00 to $52.00 and gave the stock a "sector outperform" rating in a research note on Monday, March 3rd. Finally, Wedbush assumed coverage on shares of Rocket Pharmaceuticals in a research report on Monday, December 30th. They issued an "outperform" rating and a $32.00 price target for the company. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $43.00.

Insider Transactions at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, insider Kinnari Patel acquired 21,099 shares of the firm's stock in a transaction dated Wednesday, April 9th. The shares were acquired at an average price of $4.70 per share, for a total transaction of $99,165.30. Following the completion of the acquisition, the insider now directly owns 26,774 shares of the company's stock, valued at $125,837.80. This trade represents a 371.79 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Aaron Ondrey sold 7,489 shares of the firm's stock in a transaction on Friday, April 4th. The stock was sold at an average price of $5.29, for a total value of $39,616.81. Following the sale, the chief financial officer now owns 129,650 shares in the company, valued at $685,848.50. This trade represents a 5.46 % decrease in their position. The disclosure for this sale can be found here. Insiders own 28.50% of the company's stock.

Rocket Pharmaceuticals Stock Performance

NASDAQ RCKT traded up $0.28 during trading on Thursday, reaching $7.42. The company's stock had a trading volume of 408,662 shares, compared to its average volume of 1,315,134. The firm has a market cap of $790.87 million, a price-to-earnings ratio of -2.67 and a beta of 1.00. Rocket Pharmaceuticals, Inc. has a twelve month low of $4.55 and a twelve month high of $26.98. The business's fifty day moving average price is $7.78 and its 200-day moving average price is $11.53. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last issued its earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.06. As a group, analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current fiscal year.

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.