Mirae Asset Global Investments Co. Ltd. decreases its stake in Rocket Pharmaceuticals, Inc. (NASDAQ: RCKT)


Mirae Asset Global Investments Co. Ltd. cut its holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT – Get Rating) by 11.5% in the first quarter, Holdings Channel.com reports. The institutional investor held 241,192 shares of the biotech company after selling 31,212 shares during the quarter. The holdings of Mirae Asset Global Investments Co. Ltd. in Rocket Pharmaceuticals were worth $3,826,000 at the end of last quarter.

A number of other major investors have also recently changed their stances in the company. B. Metzler seel. Sohn & Co. AG bought a new stake in shares of Rocket Pharmaceuticals in Q1 worth approximately $257,000. Fox Run Management LLC bought a new stake in shares of Rocket Pharmaceuticals in Q1 worth approximately $263,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Rocket Pharmaceuticals in Q1 worth approximately $237,000. The Swiss National Bank increased its position in shares of Rocket Pharmaceuticals by 8.7% in the 1st quarter. The Swiss National Bank now owns 91,400 shares of the biotech company worth $1,450,000 after buying 7,300 more shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its position in Rocket Pharmaceuticals shares by 10.7% in the 1st quarter. Qube Research & Technologies Ltd now owns 31,345 shares of the biotech company worth $497,000 after buying 3,029 more shares in the last quarter.

Rocket Pharmaceuticals trades up 3.0%

Rocket Pharmaceuticals stock opened Wednesday at $16.90. The company has a current ratio of 13.41, a quick ratio of 13.41 and a debt ratio of 0.05. The company’s fifty-day simple moving average is $15.17 and its two-hundred-day simple moving average is $14.37. Rocket Pharmaceuticals, Inc. has a 12-month low of $7.57 and a 12-month high of $37.44. The company has a market capitalization of $1.11 billion, a price-earnings ratio of -5.67 and a beta of 1.68.

Rocket Pharmaceuticals (NASDAQ:RCKT – Get Rating) last released its results on Monday, August 8. The biotech company reported ($0.83) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.16). During the same period last year, the company made ($0.55) earnings per share. As a group, stock analysts predict Rocket Pharmaceuticals, Inc. will post earnings per share of -2.93 for the current fiscal year.

A Wall Street analyst gives his opinion

A number of brokerages have weighed in on RCKT recently. Raymond James raised his price target on Rocket Pharmaceuticals from $22.00 to $24.00 and gave the stock an “outperform” rating in a Tuesday, August 9 research report. Needham & Company LLC lowered its price target on Rocket Pharmaceuticals from $75.00 to $62.00 and set a “buy” rating on the stock in a Tuesday, May 17 research report. Chardan Capital raised its price target on Rocket Pharmaceuticals from $60.00 to $62.00 and gave the company a “buy” rating in a Thursday, May 19 research report. Stifel Nicolaus raised his price target on Rocket Pharmaceuticals from $63.00 to $67.00 in a Thursday, May 19 research report. Finally, SVB Leerink lowered its price target on Rocket Pharmaceuticals from $66.00 to $64.00 and set an “outperform” rating on the stock in a Wednesday, July 6 research report. One equity research analyst rated the stock with a sell rating and six gave the company a buy rating. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.80.

Rocket Pharmaceuticals Company Profile

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Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a multi-platform biotechnology company focused on the development of 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 blood cell production or promotes the production of defective blood cells; leukocyte-I adhesion deficiency, a genetic disorder that causes immune system dysfunction; and pyruvate kinase deficiency, a rare autosomal recessive red blood cell disorder that results in chronic non-spherocytic hemolytic anemia.

Further reading

Want to see which other hedge funds hold RCKT? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT – Get Rating).

Institutional ownership by quarter for Rocket Pharmaceuticals (NASDAQ:RCKT)



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