Acuta Capital Partners LLC Lowers Stock Holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Acuta Capital Partners LLC lessened its holdings in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 29.2% during the 4th quarter, HoldingsChannel reports. The firm owned 134,500 shares of the biotechnology company’s stock after selling 55,500 shares during the period. Rocket Pharmaceuticals comprises approximately 1.7% of Acuta Capital Partners LLC’s holdings, making the stock its 19th biggest position. Acuta Capital Partners LLC’s holdings in Rocket Pharmaceuticals were worth $1,691,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Wellington Management Group LLP raised its position in Rocket Pharmaceuticals by 24.5% in the 4th quarter. Wellington Management Group LLP now owns 13,995,177 shares of the biotechnology company’s stock valued at $175,919,000 after purchasing an additional 2,753,033 shares in the last quarter. Boxer Capital Management LLC purchased a new stake in shares of Rocket Pharmaceuticals during the 4th quarter worth approximately $18,428,000. Avoro Capital Advisors LLC purchased a new stake in shares of Rocket Pharmaceuticals in the fourth quarter valued at about $15,084,000. Vanguard Group Inc. boosted its stake in shares of Rocket Pharmaceuticals by 18.8% during the 4th quarter. Vanguard Group Inc. now owns 6,577,595 shares of the biotechnology company’s stock worth $82,680,000 after purchasing an additional 1,040,655 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in Rocket Pharmaceuticals by 4,422.4% in the 4th quarter. Marshall Wace LLP now owns 456,762 shares of the biotechnology company’s stock valued at $5,741,000 after buying an additional 446,662 shares during the period. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Insider Activity

In related news, insider Kinnari Patel purchased 21,099 shares of Rocket Pharmaceuticals stock in a transaction dated Wednesday, April 9th. The shares were acquired at an average price of $4.70 per share, for a total transaction of $99,165.30. Following the acquisition, the insider now directly owns 26,774 shares in the company, valued at approximately $125,837.80. The trade was a 371.79 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Aaron Ondrey sold 7,489 shares of the company’s stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $5.29, for a total transaction of $39,616.81. Following the sale, the chief financial officer now owns 129,650 shares in the company, valued at $685,848.50. The trade was a 5.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 28.50% of the company’s stock.

Analyst Ratings Changes

RCKT has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $42.00 price target on shares of Rocket Pharmaceuticals in a research note on Wednesday, April 9th. BMO Capital Markets started coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, March 12th. They set an “outperform” rating and a $50.00 price objective for the company. The Goldman Sachs Group cut their target price on Rocket Pharmaceuticals from $29.00 to $15.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Canaccord Genuity Group lowered their price target on Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Finally, Scotiabank raised their price objective on shares of Rocket Pharmaceuticals from $51.00 to $52.00 and gave the company a “sector outperform” rating in a research report on Monday, March 3rd. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Rocket Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

Rocket Pharmaceuticals Price Performance

Shares of NASDAQ:RCKT opened at $7.86 on Friday. Rocket Pharmaceuticals, Inc. has a 1-year low of $4.55 and a 1-year high of $26.98. The stock’s fifty day simple moving average is $7.40 and its two-hundred day simple moving average is $11.14. 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 market cap of $838.11 million, a PE ratio of -2.86 and a beta of 1.00.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.06. As a group, analysts forecast that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current fiscal year.

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.