Mirae Asset Global Investments Co. Ltd. Sells 215,230 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Mirae Asset Global Investments Co. Ltd. lowered its position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 55.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 172,474 shares of the biotechnology company's stock after selling 215,230 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.19% of Rocket Pharmaceuticals worth $5,169,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of RCKT. Wellington Management Group LLP boosted its position in Rocket Pharmaceuticals by 56.0% during the third quarter. Wellington Management Group LLP now owns 8,022,830 shares of the biotechnology company's stock valued at $164,388,000 after acquiring an additional 2,880,373 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Rocket Pharmaceuticals by 133.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,551,774 shares of the biotechnology company's stock valued at $24,612,000 after acquiring an additional 886,919 shares during the last quarter. Maverick Capital Ltd. boosted its position in Rocket Pharmaceuticals by 34.1% during the fourth quarter. Maverick Capital Ltd. now owns 3,395,818 shares of the biotechnology company's stock valued at $66,456,000 after acquiring an additional 863,452 shares during the last quarter. State Street Corp boosted its position in Rocket Pharmaceuticals by 33.8% during the third quarter. State Street Corp now owns 3,392,333 shares of the biotechnology company's stock valued at $54,142,000 after acquiring an additional 856,076 shares during the last quarter. Finally, Westfield Capital Management Co. LP boosted its position in Rocket Pharmaceuticals by 14.7% during the third quarter. Westfield Capital Management Co. LP now owns 4,193,996 shares of the biotechnology company's stock valued at $85,935,000 after acquiring an additional 538,209 shares during the last quarter. Institutional investors own 98.39% of the company's stock.

Insider Buying and Selling at Rocket Pharmaceuticals

In other news, Director Gotham Makker sold 274,000 shares of the firm's stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $28.43, for a total transaction of $7,789,820.00. Following the completion of the sale, the director now owns 365,912 shares in the company, valued at approximately $10,402,878.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Gotham Makker sold 274,000 shares of the firm's stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $28.43, for a total transaction of $7,789,820.00. Following the completion of the sale, the director now owns 365,912 shares in the company, valued at approximately $10,402,878.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Mark Andrew White sold 12,532 shares of the firm's stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $24.64, for a total transaction of $308,788.48. Following the sale, the insider now owns 75,226 shares of the company's stock, valued at approximately $1,853,568.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 334,740 shares of company stock worth $9,529,027. Insiders own 31.10% of the company's stock.

Analyst Upgrades and Downgrades

RCKT has been the topic of a number of research analyst reports. UBS Group cut their price objective on shares of Rocket Pharmaceuticals from $56.00 to $54.00 and set a "buy" rating on the stock in a research report on Friday, March 1st. Lifesci Capital reissued an "outperform" rating on shares of Rocket Pharmaceuticals in a research report on Tuesday, December 26th. The Goldman Sachs Group initiated coverage on shares of Rocket Pharmaceuticals in a research report on Tuesday, April 2nd. They set a "neutral" rating and a $39.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective on shares of Rocket Pharmaceuticals from $55.00 to $50.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 27th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $65.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $52.13.

Rocket Pharmaceuticals Stock Up 1.0 %

NASDAQ RCKT traded up $0.24 during trading hours on Tuesday, hitting $24.25. The company's stock had a trading volume of 888,688 shares, compared to its average volume of 718,437. Rocket Pharmaceuticals, Inc. has a 52 week low of $14.89 and a 52 week high of $32.53. The company has a market capitalization of $2.19 billion, a PE ratio of -8.25 and a beta of 1.07. The company has a current ratio of 7.80, a quick ratio of 7.80 and a debt-to-equity ratio of 0.04. The company's 50-day simple moving average is $27.55 and its two-hundred day simple moving average is $25.28.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last posted its quarterly earnings data on Monday, February 26th. The biotechnology company reported ($0.64) EPS for the quarter, beating the consensus estimate of ($0.78) by $0.14. During the same quarter in the previous year, the business posted ($0.92) earnings per share. Research analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.94 EPS 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.