SG Americas Securities LLC Cuts Position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

SG Americas Securities LLC reduced its holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 77.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,372 shares of the biotechnology company's stock after selling 63,575 shares during the quarter. SG Americas Securities LLC's holdings in Rocket Pharmaceuticals were worth $551,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Advisor Group Holdings Inc. lifted its position in Rocket Pharmaceuticals by 861.5% in the 4th quarter. Advisor Group Holdings Inc. now owns 1,923 shares of the biotechnology company's stock valued at $38,000 after acquiring an additional 1,723 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of Rocket Pharmaceuticals during the fourth quarter worth about $39,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of Rocket Pharmaceuticals by 96.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 2,068 shares of the biotechnology company's stock worth $42,000 after buying an additional 1,014 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Rocket Pharmaceuticals by 63.9% in the 4th quarter. Wells Fargo & Company MN now owns 2,644 shares of the biotechnology company's stock valued at $52,000 after acquiring an additional 1,031 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY boosted its position in Rocket Pharmaceuticals by 24.0% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 3,205 shares of the biotechnology company's stock worth $63,000 after acquiring an additional 621 shares during the last quarter. Institutional investors and hedge funds own 98.39% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. UBS Group lowered their price objective on shares of Rocket Pharmaceuticals from $56.00 to $54.00 and set a "buy" rating on the stock in a report on Friday, March 1st. StockNews.com upgraded Rocket Pharmaceuticals to a "sell" rating in a report on Friday, February 9th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $65.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, February 27th. Needham & Company LLC restated a "buy" rating and issued a $53.00 price target on shares of Rocket Pharmaceuticals in a research note on Tuesday, February 13th. Finally, The Goldman Sachs Group started coverage on Rocket Pharmaceuticals in a research note on Tuesday. They set a "neutral" rating and a $39.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $52.13.

Insider Activity

In other news, CEO Gaurav Shah sold 20,272 shares of the firm's stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $29.84, for a total transaction of $604,916.48. Following the completion of the sale, the chief executive officer now owns 554,762 shares in the company, valued at approximately $16,554,098.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Gaurav Shah sold 20,272 shares of the company's stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $29.84, for a total value of $604,916.48. Following the transaction, the chief executive officer now owns 554,762 shares of the company's stock, valued at $16,554,098.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Militello sold 2,490 shares of Rocket Pharmaceuticals 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 sale, the insider now directly owns 55,239 shares of the company's stock, valued at $1,552,215.90. The disclosure for this sale can be found here. Insiders have sold 322,208 shares of company stock valued at $9,220,239 over the last ninety days. 31.10% of the stock is currently owned by company insiders.

Rocket Pharmaceuticals Stock Performance

Shares of RCKT traded up $0.03 during mid-day trading on Friday, reaching $25.01. The company's stock had a trading volume of 403,646 shares, compared to its average volume of 719,897. The company has a current ratio of 7.80, a quick ratio of 7.80 and a debt-to-equity ratio of 0.04. Rocket Pharmaceuticals, Inc. has a 1-year low of $14.89 and a 1-year high of $32.53. The business has a 50-day simple moving average of $28.16 and a two-hundred day simple moving average of $25.06. The stock has a market cap of $2.26 billion, a P/E ratio of -8.51 and a beta of 1.07.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last posted its quarterly earnings results on Monday, February 26th. The biotechnology company reported ($0.64) earnings per share for the quarter, beating analysts' consensus estimates of ($0.78) by $0.14. During the same period in the prior year, the firm posted ($0.92) earnings per share. As a group, equities research analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.94 earnings per share for the current fiscal year.

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.