Maverick Capital Ltd. Boosts Stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Maverick Capital Ltd. increased its position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 4.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,118,672 shares of the biotechnology company’s stock after buying an additional 190,360 shares during the period. Rocket Pharmaceuticals accounts for about 1.5% of Maverick Capital Ltd.’s investment portfolio, making the stock its 23rd biggest position. Maverick Capital Ltd. owned about 4.52% of Rocket Pharmaceuticals worth $76,072,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its position in Rocket Pharmaceuticals by 21.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock valued at $61,000 after purchasing an additional 582 shares during the period. Dana Investment Advisors Inc. raised its position in Rocket Pharmaceuticals by 4.4% during the second quarter. Dana Investment Advisors Inc. now owns 13,847 shares of the biotechnology company’s stock valued at $298,000 after purchasing an additional 586 shares during the period. Nisa Investment Advisors LLC raised its position in Rocket Pharmaceuticals by 31.9% during the second quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock valued at $68,000 after purchasing an additional 764 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Rocket Pharmaceuticals by 1.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 119,633 shares of the biotechnology company’s stock valued at $2,210,000 after purchasing an additional 1,561 shares during the period. Finally, Pier 88 Investment Partners LLC raised its position in Rocket Pharmaceuticals by 5.1% during the third quarter. Pier 88 Investment Partners LLC now owns 32,490 shares of the biotechnology company’s stock valued at $600,000 after purchasing an additional 1,590 shares during the period. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Pharmaceuticals Stock Performance

Shares of RCKT opened at $14.39 on Friday. Rocket Pharmaceuticals, Inc. has a 12 month low of $12.62 and a 12 month high of $32.53. The stock has a fifty day moving average price of $16.50 and a 200-day moving average price of $19.56. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06. The firm has a market cap of $1.31 billion, a PE ratio of -5.23 and a beta of 1.09.

Insider Activity

In related news, CEO Gaurav Shah sold 11,091 shares of Rocket Pharmaceuticals stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $13.05, for a total value of $144,737.55. Following the sale, the chief executive officer now directly owns 707,328 shares in the company, valued at approximately $9,230,630.40. The trade was a 1.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 13,490 shares of company stock worth $176,045. Insiders own 28.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RCKT. Needham & Company LLC reaffirmed a “buy” rating and set a $52.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Scotiabank began coverage on Rocket Pharmaceuticals in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $50.00 target price on the stock. Leerink Partners cut their target price on Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 19th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $62.00 target price on shares of Rocket Pharmaceuticals in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Rocket Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.00.

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.