Bank of New York Mellon Corp Buys 9,949 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Bank of New York Mellon Corp grew its holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 5.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 194,182 shares of the biotechnology company’s stock after purchasing an additional 9,949 shares during the quarter. Bank of New York Mellon Corp owned about 0.21% of Rocket Pharmaceuticals worth $2,441,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of RCKT. KBC Group NV raised its holdings in Rocket Pharmaceuticals by 159.6% during the fourth quarter. KBC Group NV now owns 5,475 shares of the biotechnology company’s stock worth $69,000 after buying an additional 3,366 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Rocket Pharmaceuticals during the 4th quarter valued at approximately $141,000. Private Advisor Group LLC bought a new stake in shares of Rocket Pharmaceuticals during the 4th quarter valued at $166,000. China Universal Asset Management Co. Ltd. boosted its position in shares of Rocket Pharmaceuticals by 10.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 19,329 shares of the biotechnology company’s stock valued at $243,000 after acquiring an additional 1,824 shares during the period. Finally, XTX Topco Ltd purchased a new stake in shares of Rocket Pharmaceuticals in the third quarter worth $286,000. Institutional investors and hedge funds own 98.39% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on RCKT. Canaccord Genuity Group reduced their target price on Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Wedbush began coverage on Rocket Pharmaceuticals in a research note on Monday, December 30th. They issued an “outperform” rating and a $32.00 price target for the company. Jefferies Financial Group assumed coverage on Rocket Pharmaceuticals in a research note on Wednesday, December 18th. They issued a “buy” rating and a $29.00 price target on the stock. Chardan Capital cut their price target on Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Finally, Needham & Company LLC cut their target price on Rocket Pharmaceuticals from $52.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Rocket Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Rocket Pharmaceuticals Stock Performance

Shares of RCKT opened at $8.32 on Friday. Rocket Pharmaceuticals, Inc. has a 52 week low of $8.06 and a 52 week high of $28.67. The stock has a market cap of $887.16 million, a price-to-earnings ratio of -3.03 and a beta of 1.03. The business has a 50-day simple moving average of $9.93 and a two-hundred day simple moving average of $13.72. 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 released its earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.06. On average, analysts expect that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current year.

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.