EFG Asset Management North America Corp. Sells 98,791 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

EFG Asset Management North America Corp. lowered its stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 40.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 145,629 shares of the biotechnology company’s stock after selling 98,791 shares during the quarter. EFG Asset Management North America Corp.’s holdings in Rocket Pharmaceuticals were worth $1,831,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in RCKT. Signaturefd LLC increased its position in Rocket Pharmaceuticals by 319.8% during the 4th quarter. Signaturefd LLC now owns 4,916 shares of the biotechnology company’s stock worth $62,000 after purchasing an additional 3,745 shares in the last quarter. Harbour Investments Inc. grew its stake in shares of Rocket Pharmaceuticals by 51.9% during the fourth quarter. Harbour Investments Inc. now owns 5,385 shares of the biotechnology company’s stock worth $68,000 after buying an additional 1,840 shares during the last quarter. KBC Group NV increased its holdings in shares of Rocket Pharmaceuticals by 159.6% during the fourth quarter. KBC Group NV now owns 5,475 shares of the biotechnology company’s stock worth $69,000 after buying an additional 3,366 shares in the last quarter. E Fund Management Co. Ltd. bought a new position in shares of Rocket Pharmaceuticals in the 4th quarter valued at $139,000. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Rocket Pharmaceuticals during the 4th quarter valued at $141,000. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on RCKT shares. The Goldman Sachs Group dropped their target price on Rocket Pharmaceuticals from $29.00 to $15.00 and set a “neutral” rating for the company in a research report on Monday, March 3rd. Jefferies Financial Group started coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, December 18th. They issued a “buy” rating and a $29.00 price objective for the company. Chardan Capital cut their target price on shares of Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Needham & Company LLC decreased their price target on shares of Rocket Pharmaceuticals from $52.00 to $42.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Finally, Scotiabank lifted their price target on shares of Rocket Pharmaceuticals from $51.00 to $52.00 and gave the stock a “sector outperform” rating in a report on Monday, March 3rd. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.00.

Rocket Pharmaceuticals Stock Performance

RCKT stock opened at $8.17 on Wednesday. Rocket Pharmaceuticals, Inc. has a 1-year low of $8.06 and a 1-year high of $27.30. 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 stock has a 50-day moving average price of $9.79 and a 200-day moving average price of $13.44. The firm has a market cap of $871.17 million, a PE ratio of -2.97 and a beta of 1.03.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.06. As a group, equities research analysts expect that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current year.

Rocket Pharmaceuticals Company 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.