Bellevue Group AG Sells 10,400 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Bellevue Group AG lowered its position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 52.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,300 shares of the biotechnology company’s stock after selling 10,400 shares during the quarter. Bellevue Group AG’s holdings in Rocket Pharmaceuticals were worth $172,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of RCKT. Nisa Investment Advisors LLC lifted its stake in Rocket Pharmaceuticals by 31.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock valued at $68,000 after purchasing an additional 764 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Rocket Pharmaceuticals by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock valued at $61,000 after buying an additional 582 shares during the last quarter. Values First Advisors Inc. bought a new position in shares of Rocket Pharmaceuticals during the 3rd quarter worth approximately $108,000. SG Americas Securities LLC acquired a new position in shares of Rocket Pharmaceuticals during the 3rd quarter worth approximately $113,000. Finally, Dana Investment Advisors Inc. raised its stake in Rocket Pharmaceuticals by 4.4% in the 2nd quarter. Dana Investment Advisors Inc. now owns 13,847 shares of the biotechnology company’s stock valued at $298,000 after acquiring an additional 586 shares during the period. Institutional investors own 98.39% of the company’s stock.

Insider Activity at Rocket Pharmaceuticals

In related news, CEO Gaurav Shah sold 11,091 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $13.05, for a total value of $144,737.55. Following the transaction, the chief executive officer now directly owns 707,328 shares in the company, valued at $9,230,630.40. This trade represents a 1.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 13,490 shares of company stock worth $176,045 in the last quarter. Company insiders own 28.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Scotiabank assumed coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $50.00 price objective for the company. Leerink Partners reduced their target price on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating for the company in a report on Tuesday, November 19th. JPMorgan Chase & Co. increased their price target on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Cantor Fitzgerald restated an “overweight” rating and set a $65.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $62.00 target price on shares of Rocket Pharmaceuticals in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $51.00.

Rocket Pharmaceuticals Stock Performance

Shares of Rocket Pharmaceuticals stock opened at $14.39 on Monday. Rocket Pharmaceuticals, Inc. has a 1-year low of $12.62 and a 1-year high of $32.53. The company has a market cap of $1.31 billion, a PE ratio of -5.23 and a beta of 1.09. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06. The company has a 50 day moving average of $16.50 and a 200-day moving average of $19.54.

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.