PNC Financial Services Group Inc. Has $460,000 Holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

PNC Financial Services Group Inc. cut its position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 8.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,351 shares of the biotechnology company’s stock after selling 1,495 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Rocket Pharmaceuticals were worth $460,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in Rocket Pharmaceuticals by 7.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 468,206 shares of the biotechnology company’s stock worth $9,594,000 after purchasing an additional 32,836 shares during the period. Rhumbline Advisers grew its holdings in Rocket Pharmaceuticals by 4.7% in the third quarter. Rhumbline Advisers now owns 87,527 shares of the biotechnology company’s stock worth $1,793,000 after purchasing an additional 3,966 shares during the period. FMR LLC grew its holdings in Rocket Pharmaceuticals by 27.7% in the third quarter. FMR LLC now owns 342,699 shares of the biotechnology company’s stock worth $7,022,000 after purchasing an additional 74,431 shares during the period. Synovus Financial Corp grew its holdings in Rocket Pharmaceuticals by 4.6% in the third quarter. Synovus Financial Corp now owns 84,681 shares of the biotechnology company’s stock worth $1,735,000 after purchasing an additional 3,699 shares during the period. Finally, Acuta Capital Partners LLC grew its holdings in Rocket Pharmaceuticals by 18.2% in the third quarter. Acuta Capital Partners LLC now owns 362,000 shares of the biotechnology company’s stock worth $7,417,000 after purchasing an additional 55,806 shares during the period. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. The Goldman Sachs Group assumed coverage on shares of Rocket Pharmaceuticals in a report on Tuesday, April 2nd. They issued a “neutral” rating and a $39.00 price target for the company. William Blair reiterated an “outperform” rating on shares of Rocket Pharmaceuticals in a report on Monday, June 3rd. UBS Group reduced their price objective on shares of Rocket Pharmaceuticals from $56.00 to $54.00 and set a “buy” rating for the company in a report on Friday, March 1st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $53.00 price objective on shares of Rocket Pharmaceuticals in a report on Tuesday, May 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Rocket Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $52.13.

Rocket Pharmaceuticals Stock Up 0.7 %

RCKT opened at $21.43 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 10.47 and a quick ratio of 10.47. The company’s 50-day moving average is $22.41 and its 200 day moving average is $26.02. Rocket Pharmaceuticals, Inc. has a fifty-two week low of $14.89 and a fifty-two week high of $32.53. The firm has a market capitalization of $1.95 billion, a P/E ratio of -7.47 and a beta of 1.08.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its quarterly earnings results on Monday, May 6th. The biotechnology company reported ($0.66) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.01. During the same quarter in the prior year, the business earned ($0.73) EPS. Research analysts expect that Rocket Pharmaceuticals, Inc. will post -2.85 earnings per share for the current fiscal year.

Insider Activity at Rocket Pharmaceuticals

In related news, insider John Militello sold 1,079 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $23.35, for a total transaction of $25,194.65. Following the transaction, the insider now directly owns 53,327 shares of the company’s stock, valued at $1,245,185.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Rocket Pharmaceuticals news, insider John Militello sold 1,079 shares of Rocket Pharmaceuticals stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $23.35, for a total value of $25,194.65. Following the sale, the insider now owns 53,327 shares of the company’s stock, valued at $1,245,185.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David P. Southwell sold 70,000 shares of Rocket Pharmaceuticals stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $24.36, for a total transaction of $1,705,200.00. Following the completion of the sale, the director now directly owns 95,160 shares in the company, valued at approximately $2,318,097.60. The disclosure for this sale can be found here. Insiders have sold 105,282 shares of company stock valued at $2,551,801 over the last ninety days. Corporate insiders own 31.10% of the company’s stock.

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.