HighTower Advisors LLC Has $1.81 Million Stock Holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

HighTower Advisors LLC boosted its stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT – Get Rating) by 237.2% in the fourth quarter, HoldingsChannel reports. The firm owned 92,554 shares of the biotechnology company’s stock after buying an additional 65,107 shares during the period. HighTower Advisors LLC’s holdings in Rocket Pharmaceuticals were worth $1,809,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new stake in Rocket Pharmaceuticals in the third quarter worth $28,000. Great West Life Assurance Co. Can bought a new position in shares of Rocket Pharmaceuticals in the third quarter valued at $40,000. Point72 Hong Kong Ltd bought a new position in shares of Rocket Pharmaceuticals in the third quarter valued at $100,000. Tower Research Capital LLC TRC lifted its stake in shares of Rocket Pharmaceuticals by 175.0% in the third quarter. Tower Research Capital LLC TRC now owns 10,761 shares of the biotechnology company’s stock valued at $171,000 after buying an additional 6,848 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new position in shares of Rocket Pharmaceuticals in the third quarter valued at $177,000. 93.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RCKT has been the topic of a number of recent research reports. StockNews.com initiated coverage on shares of Rocket Pharmaceuticals in a research note on Thursday, May 18th. They issued a “sell” rating on the stock. Needham & Company LLC reissued a “buy” rating and set a $60.00 price target on shares of Rocket Pharmaceuticals in a research report on Wednesday, April 19th. William Blair reissued an “outperform” rating on shares of Rocket Pharmaceuticals in a research report on Wednesday, March 22nd. Chardan Capital dropped their price target on shares of Rocket Pharmaceuticals from $63.00 to $61.00 in a research report on Friday, May 5th. Finally, Morgan Stanley began coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, February 1st. They set an “overweight” rating and a $45.00 price target on the stock. One research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.09.

Insider Transactions at Rocket Pharmaceuticals

In other news, insider John Militello sold 2,342 shares of Rocket Pharmaceuticals stock in a transaction dated Friday, April 21st. The shares were sold at an average price of $18.65, for a total value of $43,678.30. Following the completion of the transaction, the insider now owns 5,636 shares in the company, valued at $105,111.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 33.67% of the company’s stock.

Rocket Pharmaceuticals Stock Performance

Shares of RCKT stock opened at $21.54 on Thursday. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of -6.43 and a beta of 1.23. The company has a debt-to-equity ratio of 0.04, a quick ratio of 10.83 and a current ratio of 10.83. The firm’s 50-day simple moving average is $18.63 and its two-hundred day simple moving average is $19.33. Rocket Pharmaceuticals, Inc. has a 52 week low of $9.50 and a 52 week high of $23.48.

Rocket Pharmaceuticals (NASDAQ:RCKT – Get Rating) last posted its earnings results on Thursday, May 4th. The biotechnology company reported ($0.73) earnings per share for the quarter, topping the consensus estimate of ($0.84) by $0.11. During the same quarter in the previous year, the company posted ($0.67) earnings per share. As a group, equities analysts forecast that Rocket Pharmaceuticals, Inc. will post -3.08 earnings per share for the current year.

Rocket Pharmaceuticals Company Profile

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Rocket Pharmaceuticals, Inc is a clinical-stage biotechnology company, which engages in the development of gene therapy treatment options for rare and devastating pediatric diseases. Its multi-platform development approach applies the lentiviral vector and adeno-associated viral vector gene therapy platforms.