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

Bellevue Group AG lowered its position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 52.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor 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 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its holdings in Rocket Pharmaceuticals by 31.9% during the second 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 period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Rocket Pharmaceuticals by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock valued at $61,000 after purchasing an additional 582 shares during the last quarter. Values First Advisors Inc. bought a new stake in shares of Rocket Pharmaceuticals during the 3rd quarter worth $108,000. SG Americas Securities LLC purchased a new position in shares of Rocket Pharmaceuticals in the 3rd quarter worth about $113,000. Finally, Dana Investment Advisors Inc. grew its position in Rocket Pharmaceuticals by 4.4% during the second quarter. Dana Investment Advisors Inc. now owns 13,847 shares of the biotechnology company’s stock valued at $298,000 after buying an additional 586 shares during the period. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Rocket Pharmaceuticals Price Performance

RCKT stock opened at $14.39 on Monday. The firm has a 50 day moving average of $16.50 and a 200-day moving average of $19.54. 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 firm has a market capitalization of $1.31 billion, a P/E ratio of -5.23 and a beta of 1.09. Rocket Pharmaceuticals, Inc. has a 12 month low of $12.62 and a 12 month high of $32.53.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on RCKT shares. Chardan Capital reiterated a “buy” rating and issued a $62.00 target price on shares of Rocket Pharmaceuticals in a research note on Monday, November 18th. Canaccord Genuity Group reissued a “buy” rating and set a $39.00 price objective on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Cantor Fitzgerald restated an “overweight” rating and issued a $65.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Needham & Company LLC reiterated a “buy” rating and set a $52.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Finally, Scotiabank assumed coverage on Rocket Pharmaceuticals in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 price objective on the stock. One research 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. Based on data from MarketBeat.com, Rocket Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $51.00.

Insider Buying and Selling at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, CEO Gaurav Shah sold 11,091 shares of the company’s stock in a transaction dated 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 represents a 1.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 13,490 shares of company stock valued at $176,045 in the last three months. Company insiders own 28.50% of the company’s stock.

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.