Fmr LLC Lowers Stock Holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

FMR LLC trimmed its position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 19.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 465,456 shares of the biotechnology company's stock after selling 113,823 shares during the period. FMR LLC owned about 0.51% of Rocket Pharmaceuticals worth $8,597,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of RCKT. First Turn Management LLC increased its position 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 valued at $12,078,000 after buying an additional 310,119 shares during the period. Westfield Capital Management Co. LP increased its position 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 valued at $83,001,000 after buying an additional 165,911 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Rocket Pharmaceuticals during the second quarter valued at about $2,144,000. Harbor Capital Advisors Inc. increased its position in shares of Rocket Pharmaceuticals by 73.5% during the third quarter. Harbor Capital Advisors Inc. now owns 168,506 shares of the biotechnology company's stock valued at $3,112,000 after buying an additional 71,372 shares during the period. Finally, EFG Asset Management North America Corp. increased its position in shares of Rocket Pharmaceuticals by 47.0% during the second quarter. EFG Asset Management North America Corp. now owns 222,046 shares of the biotechnology company's stock valued at $4,780,000 after buying an additional 71,044 shares during the period. 98.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RCKT. Canaccord Genuity Group reiterated a "buy" rating and set a $39.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Scotiabank initiated coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, October 16th. They issued a "sector outperform" rating and a $50.00 price objective on the stock. Cantor Fitzgerald restated an "overweight" rating and issued a $65.00 price objective on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Chardan Capital restated a "buy" rating and issued a $62.00 price objective on shares of Rocket Pharmaceuticals in a report on Monday, November 18th. Finally, Leerink Partners cut their price objective on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an "outperform" rating on the stock in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.00.

Insider Buying and Selling

In related news, CEO Gaurav Shah sold 11,091 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer now owns 707,328 shares in the company, valued at approximately $9,230,630.40. This trade represents a 1.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 13,490 shares of company stock worth $176,045. 28.50% of the stock is owned by insiders.

Rocket Pharmaceuticals Stock Down 6.0 %

Shares of RCKT traded down $0.80 on Thursday, hitting $12.57. 2,162,635 shares of the stock traded hands, compared to its average volume of 818,571. The company has a market capitalization of $1.15 billion, a PE ratio of -4.56 and a beta of 1.01. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05. The business has a 50 day simple moving average of $15.79 and a 200 day simple moving average of $19.04. Rocket Pharmaceuticals, Inc. has a one year low of $12.18 and a one year 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.