Pictet Asset Management Holding SA Has $16.57 Million Stock Position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Pictet Asset Management Holding SA trimmed its holdings in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 5.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,317,969 shares of the biotechnology company’s stock after selling 68,736 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Rocket Pharmaceuticals were worth $16,567,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Rocket Pharmaceuticals by 68.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 20,196 shares of the biotechnology company’s stock worth $254,000 after acquiring an additional 8,190 shares in the last quarter. EntryPoint Capital LLC acquired a new position in shares of Rocket Pharmaceuticals during the fourth quarter valued at about $313,000. Vanguard Group Inc. boosted its position in shares of Rocket Pharmaceuticals by 18.8% during the 4th quarter. Vanguard Group Inc. now owns 6,577,595 shares of the biotechnology company’s stock worth $82,680,000 after purchasing an additional 1,040,655 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Rocket Pharmaceuticals in the 4th quarter valued at about $192,000. Finally, Teacher Retirement System of Texas increased its position in Rocket Pharmaceuticals by 45.2% in the 4th quarter. Teacher Retirement System of Texas now owns 23,148 shares of the biotechnology company’s stock valued at $291,000 after buying an additional 7,211 shares in the last quarter. Institutional investors and hedge funds own 98.39% of the company’s stock.

Rocket Pharmaceuticals Stock Down 12.9 %

Shares of NASDAQ:RCKT opened at $5.81 on Wednesday. Rocket Pharmaceuticals, Inc. has a 1 year low of $5.80 and a 1 year high of $26.98. The company has a market capitalization of $619.52 million, a PE ratio of -2.11 and a beta of 1.03. The business has a fifty day moving average price of $9.46 and a two-hundred day moving average price of $13.01. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05.

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Chardan Capital reduced their price objective on Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Scotiabank boosted their price target on shares of Rocket Pharmaceuticals from $51.00 to $52.00 and gave the company a “sector outperform” rating in a research note on Monday, March 3rd. The Goldman Sachs Group dropped their price objective on shares of Rocket Pharmaceuticals from $29.00 to $15.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Needham & Company LLC decreased their target price 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, Canaccord Genuity Group dropped their price target on shares of Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Rocket Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $43.00.

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.