Bellevue Group AG Sells 1,300 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Bellevue Group AG lowered its stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 6.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,700 shares of the biotechnology company’s stock after selling 1,300 shares during the quarter. Bellevue Group AG’s holdings in Rocket Pharmaceuticals were worth $531,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in RCKT. Price T Rowe Associates Inc. MD raised its holdings in shares of Rocket Pharmaceuticals by 11.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,943,160 shares of the biotechnology company’s stock valued at $79,290,000 after purchasing an additional 314,086 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of Rocket Pharmaceuticals by 1.1% during the 1st quarter. Westfield Capital Management Co. LP now owns 3,984,030 shares of the biotechnology company’s stock worth $107,330,000 after buying an additional 42,171 shares during the last quarter. ProShare Advisors LLC grew its holdings in shares of Rocket Pharmaceuticals by 9.1% in the 1st quarter. ProShare Advisors LLC now owns 17,614 shares of the biotechnology company’s stock valued at $475,000 after acquiring an additional 1,468 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Rocket Pharmaceuticals by 4.1% during the first quarter. Russell Investments Group Ltd. now owns 675,769 shares of the biotechnology company’s stock worth $18,205,000 after acquiring an additional 26,823 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in Rocket Pharmaceuticals by 3.5% in the first quarter. Jennison Associates LLC now owns 26,783 shares of the biotechnology company’s stock valued at $722,000 after purchasing an additional 903 shares in the last quarter. Institutional investors own 98.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RCKT. Needham & Company LLC lowered their target price on shares of Rocket Pharmaceuticals from $53.00 to $52.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Canaccord Genuity Group lowered their price target on Rocket Pharmaceuticals from $49.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. The Goldman Sachs Group started coverage on Rocket Pharmaceuticals in a research report on Tuesday, April 2nd. They issued a “neutral” rating and a $39.00 price objective for the company. Chardan Capital reiterated a “buy” rating and set a $62.00 target price on shares of Rocket Pharmaceuticals in a research note on Friday, June 28th. Finally, William Blair restated an “outperform” rating on shares of Rocket Pharmaceuticals in a research note on Monday, June 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $51.25.

Rocket Pharmaceuticals Trading Down 3.2 %

Shares of NASDAQ:RCKT traded down $0.81 during trading on Monday, reaching $24.52. The stock had a trading volume of 200,240 shares, compared to its average volume of 749,148. Rocket Pharmaceuticals, Inc. has a 52 week low of $14.89 and a 52 week high of $32.53. The firm’s fifty day moving average is $22.18 and its 200 day moving average is $25.02. The company has a current ratio of 10.47, a quick ratio of 10.47 and a debt-to-equity ratio of 0.04.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings data on Monday, May 6th. The biotechnology company reported ($0.66) earnings per share for the quarter, topping the consensus estimate of ($0.67) by $0.01. During the same period in the prior year, the business earned ($0.73) earnings per share. On average, equities research analysts forecast that Rocket Pharmaceuticals, Inc. will post -2.96 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Mark Andrew White sold 3,026 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $20.39, for a total value of $61,700.14. Following the completion of the sale, the insider now directly owns 72,220 shares in the company, valued at approximately $1,472,565.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Rocket Pharmaceuticals news, insider Mark Andrew White sold 3,026 shares of Rocket Pharmaceuticals stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $20.39, for a total transaction of $61,700.14. Following the completion of the transaction, the insider now owns 72,220 shares in the company, valued at approximately $1,472,565.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gaurav Shah sold 9,790 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $23.35, for a total value of $228,596.50. Following the transaction, the chief executive officer now directly owns 728,069 shares in the company, valued at approximately $17,000,411.15. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,755 shares of company stock worth $358,654. 31.10% of the stock is currently owned by company insiders.

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.