Avior Wealth Management LLC Sells 1,670 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Avior Wealth Management LLC trimmed its stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 9.4% in the 4th quarter, HoldingsChannel reports. The fund owned 16,097 shares of the biotechnology company’s stock after selling 1,670 shares during the quarter. Avior Wealth Management LLC’s holdings in Rocket Pharmaceuticals were worth $482,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in RCKT. Wellington Management Group LLP boosted its holdings in shares of Rocket Pharmaceuticals by 56.0% in the 3rd quarter. Wellington Management Group LLP now owns 8,022,830 shares of the biotechnology company’s stock valued at $164,388,000 after buying an additional 2,880,373 shares in the last quarter. BlackRock Inc. increased its position in shares of Rocket Pharmaceuticals by 12.2% during the third quarter. BlackRock Inc. now owns 4,494,274 shares of the biotechnology company’s stock worth $71,727,000 after purchasing an additional 488,509 shares in the last quarter. Westfield Capital Management Co. LP boosted its position in shares of Rocket Pharmaceuticals by 14.7% in the 3rd quarter. Westfield Capital Management Co. LP now owns 4,193,996 shares of the biotechnology company’s stock worth $85,935,000 after purchasing an additional 538,209 shares in the last quarter. State Street Corp increased its position in Rocket Pharmaceuticals by 1.0% during the 1st quarter. State Street Corp now owns 4,019,686 shares of the biotechnology company’s stock valued at $68,857,000 after buying an additional 40,701 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Rocket Pharmaceuticals by 1.8% in the third quarter. Vanguard Group Inc. now owns 3,417,511 shares of the biotechnology company’s stock valued at $54,544,000 after buying an additional 62,020 shares during the last quarter. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, insider John Militello sold 2,490 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $28.10, for a total value of $69,969.00. Following the transaction, the insider now directly owns 55,239 shares of the company’s stock, valued at approximately $1,552,215.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Kinnari Patel sold 7,132 shares of Rocket Pharmaceuticals stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $29.84, for a total transaction of $212,818.88. Following the sale, the insider now directly owns 238,346 shares in the company, valued at $7,112,244.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John Militello sold 2,490 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $28.10, for a total transaction of $69,969.00. Following the transaction, the insider now owns 55,239 shares in the company, valued at approximately $1,552,215.90. The disclosure for this sale can be found here. Insiders sold 414,740 shares of company stock valued at $11,474,727 over the last 90 days. 31.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RCKT. StockNews.com upgraded Rocket Pharmaceuticals to a “sell” rating in a research note on Friday, February 9th. Lifesci Capital reissued an “outperform” rating on shares of Rocket Pharmaceuticals in a report on Tuesday, December 26th. JPMorgan Chase & Co. lowered their price target on Rocket Pharmaceuticals from $55.00 to $50.00 and set an “overweight” rating for the company in a research report on Tuesday, February 27th. UBS Group reduced their price objective on Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating for the company in a research note on Friday, March 1st. Finally, The Goldman Sachs Group initiated coverage on shares of Rocket Pharmaceuticals in a research note on Tuesday, April 2nd. They set a “neutral” rating and a $39.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.13.

Rocket Pharmaceuticals Stock Down 0.8 %

RCKT stock opened at $23.48 on Friday. The company has a current ratio of 7.80, a quick ratio of 7.80 and a debt-to-equity ratio of 0.04. The company’s 50 day simple moving average is $27.33 and its 200-day simple moving average is $25.26. Rocket Pharmaceuticals, Inc. has a 12 month low of $14.89 and a 12 month high of $32.53.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly earnings results on Monday, February 26th. The biotechnology company reported ($0.64) EPS for the quarter, topping the consensus estimate of ($0.78) by $0.14. During the same quarter last year, the business posted ($0.92) EPS. On average, sell-side analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.94 EPS for the current 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.