Acuta Capital Partners LLC Trims Position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Acuta Capital Partners LLC reduced its position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 24.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 190,000 shares of the biotechnology company’s stock after selling 60,370 shares during the quarter. Rocket Pharmaceuticals comprises about 2.8% of Acuta Capital Partners LLC’s holdings, making the stock its 14th biggest holding. Acuta Capital Partners LLC’s holdings in Rocket Pharmaceuticals were worth $3,509,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Nisa Investment Advisors LLC boosted its holdings in Rocket Pharmaceuticals by 31.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock valued at $68,000 after purchasing an additional 764 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Rocket Pharmaceuticals by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock worth $61,000 after buying an additional 582 shares in the last quarter. Values First Advisors Inc. bought a new stake in Rocket Pharmaceuticals during the third quarter valued at $108,000. SG Americas Securities LLC purchased a new position in Rocket Pharmaceuticals during the third quarter worth about $113,000. Finally, Dana Investment Advisors Inc. increased its stake in Rocket Pharmaceuticals by 4.4% in the 2nd quarter. Dana Investment Advisors Inc. now owns 13,847 shares of the biotechnology company’s stock worth $298,000 after acquiring an additional 586 shares during the last quarter. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Insider Activity

In related news, CEO Gaurav Shah sold 11,091 shares of Rocket Pharmaceuticals stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $13.05, for a total transaction of $144,737.55. Following the completion of the transaction, the chief executive officer now directly owns 707,328 shares of the company’s stock, valued at $9,230,630.40. This trade represents a 1.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 13,490 shares of company stock worth $176,045. Corporate insiders own 28.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RCKT. 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. JPMorgan Chase & Co. boosted their price target on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Needham & Company LLC restated a “buy” rating and set a $52.00 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. Finally, Scotiabank began coverage on Rocket Pharmaceuticals in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $50.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.00.

Rocket Pharmaceuticals Price Performance

Shares of RCKT stock opened at $14.20 on Thursday. The business’s fifty day moving average is $16.89 and its 200 day moving average is $19.70. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -5.13 and a beta of 1.09. Rocket Pharmaceuticals, Inc. has a twelve month low of $12.62 and a twelve month high of $32.53.

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.