State Street Corp Has $57.29 Million Stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

State Street Corp grew its position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 11.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,102,022 shares of the biotechnology company's stock after purchasing an additional 322,156 shares during the period. State Street Corp owned about 3.40% of Rocket Pharmaceuticals worth $57,294,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in RCKT. Nisa Investment Advisors LLC lifted its position in Rocket Pharmaceuticals by 31.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company's stock worth $68,000 after acquiring an additional 764 shares during the last quarter. EFG Asset Management North America Corp. boosted its holdings in Rocket Pharmaceuticals by 47.0% in the 2nd quarter. EFG Asset Management North America Corp. now owns 222,046 shares of the biotechnology company's stock valued at $4,780,000 after purchasing an additional 71,044 shares during the period. Bank of New York Mellon Corp grew its position in Rocket Pharmaceuticals by 10.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 239,877 shares of the biotechnology company's stock worth $5,165,000 after purchasing an additional 22,521 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Rocket Pharmaceuticals by 30.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,092 shares of the biotechnology company's stock valued at $368,000 after buying an additional 3,995 shares during the last quarter. Finally, Privium Fund Management B.V. lifted its stake in shares of Rocket Pharmaceuticals by 6.8% in the second quarter. Privium Fund Management B.V. now owns 250,980 shares of the biotechnology company's stock valued at $4,964,000 after buying an additional 15,930 shares during the period. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RCKT. Jefferies Financial Group started coverage on Rocket Pharmaceuticals in a research report on Wednesday. They issued a "buy" rating and a $29.00 price objective for the company. Scotiabank initiated coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, October 16th. They set a "sector outperform" rating and a $50.00 price target on the stock. Needham & Company LLC restated a "buy" rating and issued a $52.00 price objective on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Canaccord Genuity Group reissued a "buy" rating and issued a $39.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Finally, Leerink Partners cut their price target on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an "outperform" rating for the company in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $48.80.

Insider Buying and Selling

In other news, CEO Gaurav Shah sold 11,091 shares of the business's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $13.05, for a total transaction of $144,737.55. Following the completion of the sale, the chief executive officer now owns 707,328 shares in the company, valued at $9,230,630.40. The trade was a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold 13,490 shares of company stock worth $176,045 in the last quarter. Insiders own 28.50% of the company's stock.

Rocket Pharmaceuticals Price Performance

NASDAQ:RCKT traded down $0.39 during mid-day trading on Thursday, reaching $11.35. 1,500,882 shares of the company were exchanged, compared to its average volume of 835,029. 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 $1.03 billion, a PE ratio of -4.13 and a beta of 1.01. Rocket Pharmaceuticals, Inc. has a 12 month low of $11.27 and a 12 month high of $32.53. The company has a fifty day moving average of $15.32 and a 200 day moving average of $18.72.

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.