HighTower Advisors LLC Trims Holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

HighTower Advisors LLC decreased its holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 4.7% in the 2nd quarter, Holdings Channel reports. The firm owned 16,160 shares of the biotechnology company’s stock after selling 790 shares during the period. HighTower Advisors LLC’s holdings in Rocket Pharmaceuticals were worth $716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its position in Rocket Pharmaceuticals by 8.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,297 shares of the biotechnology company’s stock valued at $368,000 after purchasing an additional 651 shares during the last quarter. Swiss National Bank increased its stake in Rocket Pharmaceuticals by 15.4% in the 2nd quarter. Swiss National Bank now owns 80,100 shares of the biotechnology company’s stock valued at $3,548,000 after buying an additional 10,700 shares during the period. US Bancorp DE increased its stake in Rocket Pharmaceuticals by 16.0% in the 2nd quarter. US Bancorp DE now owns 5,888 shares of the biotechnology company’s stock valued at $261,000 after buying an additional 811 shares during the period. DekaBank Deutsche Girozentrale increased its stake in Rocket Pharmaceuticals by 138.1% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 129,300 shares of the biotechnology company’s stock valued at $5,521,000 after buying an additional 75,000 shares during the period. Finally, WCM Investment Management LLC increased its stake in Rocket Pharmaceuticals by 4.1% in the 2nd quarter. WCM Investment Management LLC now owns 96,801 shares of the biotechnology company’s stock valued at $4,287,000 after buying an additional 3,811 shares during the period. Hedge funds and other institutional investors own 96.80% of the company’s stock.

RCKT has been the topic of a number of recent analyst reports. SVB Leerink reaffirmed a “buy” rating on shares of Rocket Pharmaceuticals in a research note on Sunday. Chardan Capital reaffirmed a “buy” rating on shares of Rocket Pharmaceuticals in a research note on Tuesday, September 7th. William Blair reaffirmed a “buy” rating on shares of Rocket Pharmaceuticals in a research note on Tuesday, August 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $75.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, August 10th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Rocket Pharmaceuticals presently has an average rating of “Buy” and an average target price of $65.33.

Shares of NASDAQ RCKT opened at $32.56 on Wednesday. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of -11.59 and a beta of 1.72. The company has a current ratio of 16.92, a quick ratio of 16.92 and a debt-to-equity ratio of 0.04. The company’s 50-day moving average price is $35.56 and its 200 day moving average price is $41.81. Rocket Pharmaceuticals, Inc. has a 52 week low of $22.03 and a 52 week high of $67.48.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its earnings results on Monday, August 9th. The biotechnology company reported ($0.55) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.66) by $0.11. During the same quarter in the previous year, the business earned ($0.45) earnings per share. As a group, research analysts expect that Rocket Pharmaceuticals, Inc. will post -2.38 earnings per share for the current year.

Rocket Pharmaceuticals Profile

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 (LVV) and adeno-associated viral vector (AAV) gene therapy platforms.

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Institutional Ownership by Quarter for Rocket Pharmaceuticals (NASDAQ:RCKT)

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