Pier 88 Investment Partners LLC Has $600,000 Stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Pier 88 Investment Partners LLC grew its stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 5.1% during the third quarter, HoldingsChannel reports. The firm owned 32,490 shares of the biotechnology company’s stock after buying an additional 1,590 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in Rocket Pharmaceuticals were worth $600,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. increased its holdings in shares of Rocket Pharmaceuticals by 4.1% during the first quarter. Russell Investments Group Ltd. now owns 675,769 shares of the biotechnology company’s stock worth $18,205,000 after buying an additional 26,823 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Rocket Pharmaceuticals by 9.1% in the 1st quarter. ProShare Advisors LLC now owns 17,614 shares of the biotechnology company’s stock worth $475,000 after purchasing an additional 1,468 shares during the period. Westfield Capital Management Co. LP boosted its stake in shares of Rocket Pharmaceuticals by 1.1% in the 1st quarter. Westfield Capital Management Co. LP now owns 3,984,030 shares of the biotechnology company’s stock valued at $107,330,000 after purchasing an additional 42,171 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Rocket Pharmaceuticals by 11.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,943,160 shares of the biotechnology company’s stock worth $79,290,000 after buying an additional 314,086 shares during the period. Finally, Janus Henderson Group PLC raised its stake in Rocket Pharmaceuticals by 174.3% during the first quarter. Janus Henderson Group PLC now owns 2,606,016 shares of the biotechnology company’s stock worth $70,170,000 after buying an additional 1,656,111 shares during the last quarter. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Rocket Pharmaceuticals Stock Performance

Shares of RCKT stock opened at $15.67 on Thursday. The company has a current ratio of 6.05, a quick ratio of 7.79 and a debt-to-equity ratio of 0.06. The firm has a fifty day simple moving average of $17.91 and a two-hundred day simple moving average of $20.29. Rocket Pharmaceuticals, Inc. has a 12 month low of $15.65 and a 12 month high of $32.53. The firm has a market capitalization of $1.43 billion, a PE ratio of -5.70 and a beta of 1.09.

Analysts Set New Price Targets

A number of analysts have weighed in on RCKT shares. Canaccord Genuity Group reiterated a “buy” rating and set a $38.00 price target on shares of Rocket Pharmaceuticals in a report on Monday, September 30th. 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. JPMorgan Chase & Co. raised their price objective on shares of Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Scotiabank initiated coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $50.00 target price on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.75.

About Rocket Pharmaceuticals

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.