Mirador Capital Partners LP Buys 67,755 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Mirador Capital Partners LP increased its stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 403.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 84,529 shares of the biotechnology company’s stock after acquiring an additional 67,755 shares during the period. Mirador Capital Partners LP’s holdings in Rocket Pharmaceuticals were worth $1,063,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Wellington Management Group LLP raised its position in shares of Rocket Pharmaceuticals by 22.8% during the 3rd quarter. Wellington Management Group LLP now owns 11,242,144 shares of the biotechnology company’s stock valued at $207,642,000 after acquiring an additional 2,086,424 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in Rocket Pharmaceuticals by 3.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 4,493,833 shares of the biotechnology company’s stock worth $83,001,000 after purchasing an additional 165,911 shares during the period. Maverick Capital Ltd. boosted its stake in Rocket Pharmaceuticals by 4.8% in the 3rd quarter. Maverick Capital Ltd. now owns 4,118,672 shares of the biotechnology company’s stock worth $76,072,000 after purchasing an additional 190,360 shares during the period. State Street Corp boosted its stake in Rocket Pharmaceuticals by 11.6% in the 3rd quarter. State Street Corp now owns 3,102,022 shares of the biotechnology company’s stock worth $57,294,000 after purchasing an additional 322,156 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Rocket Pharmaceuticals by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,617,866 shares of the biotechnology company’s stock worth $29,888,000 after purchasing an additional 14,256 shares during the period. Institutional investors own 98.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $52.00 target price on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Scotiabank began coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 price target on the stock. Wedbush began coverage on shares of Rocket Pharmaceuticals in a report on Monday, December 30th. They issued an “outperform” rating and a $32.00 price target on the stock. Leerink Partners decreased their target price on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 19th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $39.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Rocket Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $47.27.

Insider Activity

In other news, CEO Gaurav Shah sold 11,091 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $13.05, for a total transaction of $144,737.55. Following the completion of the transaction, the chief executive officer now owns 707,328 shares of the company’s stock, valued at approximately $9,230,630.40. This trade represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders sold 13,490 shares of company stock valued at $176,045. Insiders own 28.50% of the company’s stock.

Rocket Pharmaceuticals Stock Performance

Shares of Rocket Pharmaceuticals stock opened at $10.82 on Thursday. Rocket Pharmaceuticals, Inc. has a fifty-two week low of $10.28 and a fifty-two week high of $31.47. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05. The firm has a market capitalization of $986.35 million, a P/E ratio of -3.93 and a beta of 1.01. The company’s 50 day moving average price is $13.10 and its two-hundred day moving average price is $17.26.

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.