Acuta Capital Partners LLC Sells 60,370 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Acuta Capital Partners LLC reduced its holdings in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 24.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 190,000 shares of the biotechnology company’s stock after selling 60,370 shares during the quarter. Rocket Pharmaceuticals accounts for about 2.8% of Acuta Capital Partners LLC’s holdings, making the stock its 14th biggest position. Acuta Capital Partners LLC owned approximately 0.21% of Rocket Pharmaceuticals worth $3,509,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in RCKT. Westfield Capital Management Co. LP boosted its stake in Rocket Pharmaceuticals by 3.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 4,493,833 shares of the biotechnology company’s stock valued at $83,001,000 after purchasing an additional 165,911 shares during the last quarter. Maverick Capital Ltd. lifted its holdings in shares of Rocket Pharmaceuticals by 1.0% in the second quarter. Maverick Capital Ltd. now owns 3,928,312 shares of the biotechnology company’s stock valued at $84,577,000 after purchasing an additional 40,000 shares in the last quarter. Novo Holdings A S lifted its holdings in shares of Rocket Pharmaceuticals by 4.8% in the second quarter. Novo Holdings A S now owns 1,100,000 shares of the biotechnology company’s stock valued at $23,683,000 after purchasing an additional 50,000 shares in the last quarter. First Turn Management LLC boosted its position in shares of Rocket Pharmaceuticals by 10.8% during the third quarter. First Turn Management LLC now owns 621,306 shares of the biotechnology company’s stock valued at $11,476,000 after buying an additional 60,317 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Rocket Pharmaceuticals by 3.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 569,814 shares of the biotechnology company’s stock worth $10,524,000 after buying an additional 20,322 shares in the last quarter. 98.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on RCKT. Leerink Partners dropped their price objective on Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 19th. Canaccord Genuity Group reissued a “buy” rating and set a $39.00 price target on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Scotiabank started coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $50.00 price target on the stock. Chardan Capital reiterated a “buy” rating and issued a $62.00 price objective on shares of Rocket Pharmaceuticals in a research note on Monday, November 18th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $51.00.

Insiders Place Their Bets

In other news, CEO Gaurav Shah sold 11,091 shares of the stock in a transaction on Thursday, November 21st. The stock was 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 owns 707,328 shares in the company, valued at approximately $9,230,630.40. This represents a 1.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 13,490 shares of company stock valued at $176,045 over the last ninety days. 28.50% of the stock is currently owned by insiders.

Rocket Pharmaceuticals Trading Up 0.6 %

NASDAQ:RCKT opened at $14.20 on Thursday. Rocket Pharmaceuticals, Inc. has a 12 month low of $12.62 and a 12 month high of $32.53. 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 firm’s 50 day moving average is $16.89 and its 200 day moving average is $19.70. The stock has a market capitalization of $1.29 billion, a PE ratio of -5.13 and a beta of 1.09.

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.