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

Sovran Advisors LLC purchased a new stake in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 150,767 shares of the biotechnology company’s stock, valued at approximately $1,895,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of RCKT. Wellington Management Group LLP lifted its stake in Rocket Pharmaceuticals by 22.8% in the 3rd quarter. Wellington Management Group LLP now owns 11,242,144 shares of the biotechnology company’s stock worth $207,642,000 after purchasing an additional 2,086,424 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in Rocket Pharmaceuticals by 3.8% during the third quarter. Westfield Capital Management Co. LP now owns 4,493,833 shares of the biotechnology company’s stock valued at $83,001,000 after buying an additional 165,911 shares during the period. Maverick Capital Ltd. grew its position in Rocket Pharmaceuticals by 4.8% during the third quarter. Maverick Capital Ltd. now owns 4,118,672 shares of the biotechnology company’s stock worth $76,072,000 after buying an additional 190,360 shares in the last quarter. State Street Corp increased its stake in Rocket Pharmaceuticals by 11.6% in the 3rd quarter. State Street Corp now owns 3,102,022 shares of the biotechnology company’s stock worth $57,294,000 after acquiring an additional 322,156 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Rocket Pharmaceuticals by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,617,866 shares of the biotechnology company’s stock valued at $29,888,000 after acquiring an additional 14,256 shares in the last quarter. 98.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, CEO Gaurav Shah sold 11,091 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 707,328 shares in the company, valued at approximately $9,230,630.40. This trade represents a 1.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 14,386 shares of company stock valued at $185,345 in the last quarter. Company insiders own 28.50% of the company’s stock.

Wall Street Analysts Forecast Growth

RCKT has been the topic of several research analyst reports. Wedbush initiated coverage on shares of Rocket Pharmaceuticals in a research report on Monday, December 30th. They issued an “outperform” rating and a $32.00 price objective on the stock. 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. Chardan Capital reiterated a “buy” rating and issued a $62.00 target price on shares of Rocket Pharmaceuticals in a research report on Monday, November 18th. Canaccord Genuity Group restated a “buy” rating and set a $39.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Finally, Scotiabank assumed coverage on Rocket Pharmaceuticals in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $50.00 price target for the company. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $47.27.

Rocket Pharmaceuticals Stock Performance

Shares of RCKT stock opened at $10.11 on Tuesday. Rocket Pharmaceuticals, Inc. has a fifty-two week low of $9.90 and a fifty-two week high of $31.47. 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 stock has a 50 day moving average price of $11.62 and a two-hundred day moving average price of $15.75.

About Rocket Pharmaceuticals

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.