Sovran Advisors LLC Purchases Shares of 150,767 Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Sovran Advisors LLC purchased a new stake in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 150,767 shares of the biotechnology company's stock, valued at approximately $1,895,000. Sovran Advisors LLC owned approximately 0.17% of Rocket Pharmaceuticals at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC raised its holdings in shares of Rocket Pharmaceuticals by 796.2% during 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 in the last quarter. Jennison Associates LLC raised its holdings in Rocket Pharmaceuticals by 72.6% in the 4th quarter. Jennison Associates LLC now owns 70,304 shares of the biotechnology company's stock worth $884,000 after acquiring an additional 29,564 shares during the period. Mirador Capital Partners LP raised its holdings in Rocket Pharmaceuticals by 403.9% in the 4th quarter. Mirador Capital Partners LP now owns 84,529 shares of the biotechnology company's stock worth $1,063,000 after acquiring an additional 67,755 shares during the period. First Turn Management LLC raised its holdings in Rocket Pharmaceuticals by 10.8% in the 3rd quarter. First Turn Management LLC now owns 621,306 shares of the biotechnology company's stock worth $11,476,000 after acquiring an additional 60,317 shares during the period. Finally, Walleye Capital LLC bought a new position in Rocket Pharmaceuticals in the 3rd quarter worth $2,556,000. Institutional investors own 98.39% of the company's stock.

Rocket Pharmaceuticals Stock Performance

NASDAQ RCKT traded up $0.35 during midday trading on Friday, hitting $10.47. The company had a trading volume of 929,814 shares, compared to its average volume of 1,498,087. 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 stock has a market cap of $954.41 million, a price-to-earnings ratio of -3.81 and a beta of 0.98. The firm has a fifty day simple moving average of $11.34 and a two-hundred day simple moving average of $15.46. Rocket Pharmaceuticals, Inc. has a fifty-two week low of $9.33 and a fifty-two week high of $31.47.

Insider Activity

In other 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 sale, the chief executive officer now directly owns 707,328 shares in the company, valued at approximately $9,230,630.40. The trade was a 1.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have sold 14,386 shares of company stock worth $185,345. Corporate insiders own 28.50% of the company's stock.

Analyst Ratings Changes

RCKT has been the topic of several recent analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and issued a $65.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Canaccord Genuity Group reiterated a "buy" rating and issued a $39.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Chardan Capital reiterated a "buy" rating and issued a $62.00 target price on shares of Rocket Pharmaceuticals in a report on Monday, November 18th. Needham & Company LLC reiterated a "buy" rating and issued a $52.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Finally, Jefferies Financial Group initiated coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, December 18th. They issued a "buy" rating and a $29.00 target price on the stock. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, Rocket Pharmaceuticals presently has an average rating of "Moderate Buy" and an average target price of $47.27.

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.