Pier 88 Investment Partners LLC Purchases 1,590 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Pier 88 Investment Partners LLC increased its holdings in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 5.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 32,490 shares of the biotechnology company’s stock after purchasing an additional 1,590 shares during the period. Pier 88 Investment Partners LLC’s holdings in Rocket Pharmaceuticals were worth $600,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Rocket Pharmaceuticals by 21.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock worth $61,000 after acquiring an additional 582 shares during the last quarter. Dana Investment Advisors Inc. raised its position in shares of Rocket Pharmaceuticals by 4.4% in 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 lifted its stake in shares of Rocket Pharmaceuticals by 31.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock worth $68,000 after buying an additional 764 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Rocket Pharmaceuticals by 9.1% during the 1st quarter. ProShare Advisors LLC now owns 17,614 shares of the biotechnology company’s stock worth $475,000 after buying an additional 1,468 shares during the period. Finally, Rice Hall James & Associates LLC grew its stake in Rocket Pharmaceuticals by 4.0% in the 2nd quarter. Rice Hall James & Associates LLC now owns 75,423 shares of the biotechnology company’s stock valued at $1,624,000 after buying an additional 2,895 shares during the last quarter. Institutional investors and hedge funds own 98.39% of the company’s stock.

Rocket Pharmaceuticals Price Performance

Shares of NASDAQ:RCKT opened at $15.67 on Thursday. The firm has a 50 day moving average of $17.91 and a 200-day moving average of $20.29. Rocket Pharmaceuticals, Inc. has a 12 month low of $15.65 and a 12 month high of $32.53. The company has a current ratio of 6.05, a quick ratio of 7.79 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $1.43 billion, a PE ratio of -5.70 and a beta of 1.09.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on RCKT shares. Needham & Company LLC restated a “buy” rating and set a $52.00 price objective on shares of Rocket Pharmaceuticals in a report on Friday, November 8th. JPMorgan Chase & Co. upped their price objective on Rocket Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Scotiabank assumed coverage on Rocket Pharmaceuticals in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $50.00 target price for the company. Canaccord Genuity Group restated a “buy” rating and issued a $38.00 price target on shares of Rocket Pharmaceuticals in a research note on Monday, September 30th. Finally, Chardan Capital reiterated a “buy” rating and issued a $62.00 price objective on shares of Rocket Pharmaceuticals in a research note on Monday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.75.

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.