Sovran Advisors LLC Takes Position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Sovran Advisors LLC bought a new position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 150,767 shares of the biotechnology company’s stock, valued at approximately $1,895,000. Sovran Advisors LLC owned approximately 0.17% of Rocket Pharmaceuticals as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of Rocket Pharmaceuticals during the 3rd quarter worth about $113,000. Harbour Capital Advisors LLC boosted its holdings in Rocket Pharmaceuticals by 48.4% in the third quarter. Harbour Capital Advisors LLC now owns 53,690 shares of the biotechnology company’s stock worth $992,000 after acquiring an additional 17,510 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in Rocket Pharmaceuticals by 8.3% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 221,046 shares of the biotechnology company’s stock valued at $4,083,000 after acquiring an additional 16,936 shares during the period. Values First Advisors Inc. bought a new stake in shares of Rocket Pharmaceuticals during the third quarter valued at approximately $108,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Rocket Pharmaceuticals by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock worth $61,000 after purchasing an additional 582 shares during the period. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Jefferies Financial Group initiated coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, December 18th. They set a “buy” rating and a $29.00 price target for the company. Leerink Partners dropped their price target on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 19th. Scotiabank initiated coverage on Rocket Pharmaceuticals in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $50.00 price target for the company. Needham & Company LLC restated a “buy” rating and issued a $52.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Finally, Chardan Capital reiterated a “buy” rating and set a $62.00 price target on shares of Rocket Pharmaceuticals in a report on Monday, November 18th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Rocket Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $47.27.

Rocket Pharmaceuticals Stock Performance

Shares of RCKT stock opened at $10.11 on Tuesday. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06. Rocket Pharmaceuticals, Inc. has a 52 week low of $9.90 and a 52 week high of $31.47. The firm’s 50-day simple moving average is $11.62 and its two-hundred day simple moving average is $15.75.

Insider Buying and Selling

In other Rocket Pharmaceuticals news, CEO Gaurav Shah sold 11,091 shares of the company’s 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 sale, the chief executive officer now directly owns 707,328 shares of the company’s stock, valued at $9,230,630.40. This represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders have sold 14,386 shares of company stock valued at $185,345. 28.50% of the stock is owned by company insiders.

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.