EFG Asset Management North America Corp. Has $1.83 Million Stock Holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

EFG Asset Management North America Corp. trimmed its stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 40.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 145,629 shares of the biotechnology company’s stock after selling 98,791 shares during the quarter. EFG Asset Management North America Corp. owned approximately 0.16% of Rocket Pharmaceuticals worth $1,831,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of research firms recently commented on RCKT. BMO Capital Markets initiated coverage on Rocket Pharmaceuticals in a report on Wednesday, March 12th. They set an “outperform” rating and a $50.00 price target for the company. Canaccord Genuity Group reduced their target price on Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Wedbush assumed coverage on Rocket Pharmaceuticals in a research note on Monday, December 30th. They issued an “outperform” rating and a $32.00 price target on the stock. Needham & Company LLC cut their price target on Rocket Pharmaceuticals from $52.00 to $42.00 and set a “buy” rating for the company in a report on Friday, February 28th. Finally, Scotiabank upped their price objective on shares of Rocket Pharmaceuticals from $51.00 to $52.00 and gave the company a “sector outperform” rating in a report on Monday, March 3rd. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

Rocket Pharmaceuticals Price Performance

Shares of Rocket Pharmaceuticals stock opened at $8.17 on Wednesday. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $871.17 million, a price-to-earnings ratio of -2.97 and a beta of 1.03. Rocket Pharmaceuticals, Inc. has a twelve month low of $8.06 and a twelve month high of $27.30. The company has a 50-day simple moving average of $9.79 and a two-hundred day simple moving average of $13.44.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.06. Analysts forecast that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current 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.