Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Shares Acquired by First Turn Management LLC

First Turn Management LLC lifted its position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 10.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 621,306 shares of the biotechnology company’s stock after acquiring an additional 60,317 shares during the quarter. First Turn Management LLC’s holdings in Rocket Pharmaceuticals were worth $11,476,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its position in Rocket Pharmaceuticals by 31.9% in the second quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock worth $68,000 after buying an additional 764 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Rocket Pharmaceuticals by 21.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock worth $61,000 after buying an additional 582 shares during the period. Values First Advisors Inc. acquired a new stake in Rocket Pharmaceuticals in the third quarter worth $108,000. SG Americas Securities LLC acquired a new stake in Rocket Pharmaceuticals in the third quarter worth $113,000. Finally, Dana Investment Advisors Inc. increased its position in Rocket Pharmaceuticals by 4.4% in the second quarter. Dana Investment Advisors Inc. now owns 13,847 shares of the biotechnology company’s stock worth $298,000 after buying an additional 586 shares during the period. 98.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RCKT. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $38.00 target price on shares of Rocket Pharmaceuticals in a research report on Monday, September 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $65.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, August 6th. Scotiabank initiated coverage on Rocket Pharmaceuticals in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 price target for the company. Needham & Company LLC reissued a “buy” rating and issued a $52.00 price target on shares of Rocket Pharmaceuticals in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. increased their price target on Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.75.

Rocket Pharmaceuticals Stock Performance

Shares of RCKT stock opened at $13.66 on Tuesday. The stock has a 50-day simple moving average of $17.63 and a 200 day simple moving average of $20.10. Rocket Pharmaceuticals, Inc. has a fifty-two week low of $13.39 and a fifty-two week high of $32.53. 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 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.