Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its stake in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 34.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,117 shares of the biotechnology company’s stock after selling 7,900 shares during the period. New York State Common Retirement Fund’s holdings in Rocket Pharmaceuticals were worth $190,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in Rocket Pharmaceuticals by 21.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,292 shares of the biotechnology company’s stock valued at $61,000 after buying an additional 582 shares during the period. KBC Group NV lifted its stake in shares of Rocket Pharmaceuticals by 159.6% in the 4th quarter. KBC Group NV now owns 5,475 shares of the biotechnology company’s stock worth $69,000 after acquiring an additional 3,366 shares during the period. Strategic Financial Concepts LLC purchased a new stake in shares of Rocket Pharmaceuticals in the fourth quarter valued at about $141,000. China Universal Asset Management Co. Ltd. increased its stake in shares of Rocket Pharmaceuticals by 10.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 19,329 shares of the biotechnology company’s stock worth $243,000 after acquiring an additional 1,824 shares during the period. Finally, XTX Topco Ltd purchased a new position in Rocket Pharmaceuticals during the third quarter worth about $286,000. 98.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RCKT has been the subject of several recent analyst reports. Leerink Partners reduced their price target on Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating for the company in a report on Tuesday, November 19th. Chardan Capital reduced their target price on Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating for the company in a report on Friday, February 28th. The Goldman Sachs Group decreased their target price on shares of Rocket Pharmaceuticals from $29.00 to $15.00 and set a “neutral” rating on the stock in a research report on Monday. Canaccord Genuity Group cut their price target on shares of Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating for the company in a report on Monday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $65.00 price objective on shares of Rocket Pharmaceuticals in a report on Tuesday, November 19th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Rocket Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $42.30.

Rocket Pharmaceuticals Price Performance

Shares of NASDAQ:RCKT opened at $9.21 on Thursday. The company has a market cap of $839.56 million, a P/E ratio of -3.35 and a beta of 0.98. The business has a fifty day simple moving average of $10.78 and a 200-day simple moving average of $14.52. Rocket Pharmaceuticals, Inc. has a 52 week low of $8.25 and a 52 week high of $28.73. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.06. Equities research analysts forecast that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current year.

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.