Harbor Capital Advisors Inc. Has $2.08 Million Stock Position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Harbor Capital Advisors Inc. reduced its holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 2.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 165,127 shares of the biotechnology company’s stock after selling 3,379 shares during the period. Harbor Capital Advisors Inc.’s holdings in Rocket Pharmaceuticals were worth $2,076,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Wellington Management Group LLP raised its stake in 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 purchasing an additional 2,086,424 shares during the last quarter. Westfield Capital Management Co. LP increased its holdings in shares of Rocket Pharmaceuticals by 3.8% during 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. raised its position in shares of Rocket Pharmaceuticals by 4.8% during the third quarter. Maverick Capital Ltd. now owns 4,118,672 shares of the biotechnology company’s stock valued at $76,072,000 after buying an additional 190,360 shares during the last quarter. State Street Corp lifted its stake in shares of Rocket Pharmaceuticals by 11.6% in the third quarter. State Street Corp now owns 3,102,022 shares of the biotechnology company’s stock valued at $57,294,000 after buying an additional 322,156 shares during the period. Finally, Geode Capital Management LLC grew its position in Rocket Pharmaceuticals by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,617,866 shares of the biotechnology company’s stock worth $29,888,000 after buying an additional 14,256 shares in the last quarter. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Rocket Pharmaceuticals news, CEO Gaurav Shah sold 11,091 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $13.05, for a total transaction of $144,737.55. Following the sale, the chief executive officer now owns 707,328 shares of the company’s stock, valued at $9,230,630.40. This represents a 1.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 13,490 shares of company stock worth $176,045. 28.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

RCKT has been the subject of a number of research reports. Wedbush initiated coverage on Rocket Pharmaceuticals in a research report on Monday, December 30th. They issued an “outperform” rating and a $32.00 price objective for the company. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $39.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Leerink Partners lowered their price target on shares of Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating on the stock in a report on Tuesday, November 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $52.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.27.

Rocket Pharmaceuticals Stock Down 5.5 %

NASDAQ RCKT opened at $11.14 on Friday. The stock’s 50 day simple moving average is $13.49 and its 200 day simple moving average is $17.49. 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, Inc. has a one year low of $10.88 and a one year high of $31.47. The firm has a market cap of $1.02 billion, a PE ratio of -4.05 and a beta of 1.01.

Rocket Pharmaceuticals 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.