Pictet Asset Management Holding SA Sells 68,736 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Pictet Asset Management Holding SA lessened its stake in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 5.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,317,969 shares of the biotechnology company’s stock after selling 68,736 shares during the period. Pictet Asset Management Holding SA owned 1.45% of Rocket Pharmaceuticals worth $16,567,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Signaturefd LLC increased its position in shares of Rocket Pharmaceuticals by 319.8% in the fourth quarter. Signaturefd LLC now owns 4,916 shares of the biotechnology company’s stock worth $62,000 after purchasing an additional 3,745 shares during the period. Harbour Investments Inc. increased its holdings in Rocket Pharmaceuticals by 51.9% in the 4th quarter. Harbour Investments Inc. now owns 5,385 shares of the biotechnology company’s stock valued at $68,000 after buying an additional 1,840 shares during the period. KBC Group NV raised its position in shares of Rocket Pharmaceuticals by 159.6% in the 4th quarter. KBC Group NV now owns 5,475 shares of the biotechnology company’s stock valued at $69,000 after buying an additional 3,366 shares in the last quarter. E Fund Management Co. Ltd. acquired a new position in shares of Rocket Pharmaceuticals in the 4th quarter valued at approximately $139,000. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Rocket Pharmaceuticals during the 4th quarter worth approximately $141,000. 98.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Jefferies Financial Group initiated coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, December 18th. They set a “buy” rating and a $29.00 price objective for the company. Needham & Company LLC dropped their price objective on Rocket Pharmaceuticals from $52.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Wedbush began coverage on Rocket Pharmaceuticals in a research report on Monday, December 30th. They issued an “outperform” rating and a $32.00 target price on the stock. Scotiabank increased their target price on shares of Rocket Pharmaceuticals from $51.00 to $52.00 and gave the stock a “sector outperform” rating in a report on Monday, March 3rd. Finally, Chardan Capital decreased their price target on shares of Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating on the stock in a report on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $43.00.

Rocket Pharmaceuticals Stock Down 12.9 %

Shares of RCKT opened at $5.81 on Wednesday. The company has a market capitalization of $619.52 million, a PE ratio of -2.11 and a beta of 1.03. The stock’s 50-day moving average price is $9.46 and its two-hundred day moving average price is $13.01. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06. Rocket Pharmaceuticals, Inc. has a 12 month low of $5.80 and a 12 month high of $26.98.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.06. On average, analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current year.

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.