VELA Investment Management LLC Has $572,000 Stock Position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

VELA Investment Management LLC lifted its stake in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 49.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,959 shares of the biotechnology company’s stock after purchasing an additional 10,186 shares during the quarter. VELA Investment Management LLC’s holdings in Rocket Pharmaceuticals were worth $572,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of RCKT. Russell Investments Group Ltd. boosted its stake in Rocket Pharmaceuticals by 4.1% in the first quarter. Russell Investments Group Ltd. now owns 675,769 shares of the biotechnology company’s stock valued at $18,205,000 after buying an additional 26,823 shares in the last quarter. Novo Holdings A S boosted its stake in Rocket Pharmaceuticals by 4.8% in the second quarter. Novo Holdings A S now owns 1,100,000 shares of the biotechnology company’s stock valued at $23,683,000 after buying an additional 50,000 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Rocket Pharmaceuticals in the second quarter valued at about $2,144,000. Maverick Capital Ltd. boosted its stake in Rocket Pharmaceuticals by 1.0% in the second quarter. Maverick Capital Ltd. now owns 3,928,312 shares of the biotechnology company’s stock valued at $84,577,000 after buying an additional 40,000 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in Rocket Pharmaceuticals by 31.9% in the second quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock valued at $68,000 after buying an additional 764 shares in the last quarter. 98.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on RCKT. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Rocket Pharmaceuticals in a research note on Monday, September 30th. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, September 17th. Scotiabank initiated coverage on Rocket Pharmaceuticals in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 target price for the company. Chardan Capital reiterated a “buy” rating and issued a $62.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, August 6th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $65.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $51.75.

Rocket Pharmaceuticals Trading Up 2.0 %

RCKT stock traded up $0.33 during mid-day trading on Friday, reaching $16.98. The company’s stock had a trading volume of 518,871 shares, compared to its average volume of 776,938. The company has a market cap of $1.55 billion, a price-to-earnings ratio of -6.09 and a beta of 1.09. The business’s 50 day moving average price is $18.24 and its 200 day moving average price is $20.71. The company has a current ratio of 7.79, a quick ratio of 7.79 and a debt-to-equity ratio of 0.05. Rocket Pharmaceuticals, Inc. has a 12 month low of $15.98 and a 12 month high of $32.53.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its earnings results on Monday, August 5th. The biotechnology company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.02). During the same period last year, the company posted ($0.82) earnings per share. On average, equities research analysts predict that Rocket Pharmaceuticals, Inc. will post -2.98 EPS 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.