Bank of New York Mellon Corp Grows Position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Bank of New York Mellon Corp boosted its position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 5.4% during the 4th quarter, HoldingsChannel reports. The firm owned 194,182 shares of the biotechnology company’s stock after buying an additional 9,949 shares during the period. Bank of New York Mellon Corp’s holdings in Rocket Pharmaceuticals were worth $2,441,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. KBC Group NV raised its holdings in Rocket Pharmaceuticals by 159.6% in the fourth quarter. KBC Group NV now owns 5,475 shares of the biotechnology company’s stock worth $69,000 after purchasing an additional 3,366 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of Rocket Pharmaceuticals during the fourth quarter worth $141,000. Private Advisor Group LLC purchased a new stake in shares of Rocket Pharmaceuticals in the fourth quarter worth about $166,000. XTX Topco Ltd purchased a new position in shares of Rocket Pharmaceuticals during the 3rd quarter valued at approximately $286,000. Finally, Verition Fund Management LLC purchased a new stake in shares of Rocket Pharmaceuticals during the 3rd quarter worth about $290,000. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on RCKT shares. The Goldman Sachs Group cut their target price on shares of Rocket Pharmaceuticals from $29.00 to $15.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. Jefferies Financial Group assumed coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, December 18th. They set a “buy” rating and a $29.00 target price for the company. Wedbush began coverage on Rocket Pharmaceuticals in a report on Monday, December 30th. They set an “outperform” rating and a $32.00 target price for the company. Chardan Capital reduced their price objective on shares of Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Finally, Scotiabank boosted their price target on shares of Rocket Pharmaceuticals from $51.00 to $52.00 and gave the company a “sector outperform” rating in a research report on Monday, March 3rd. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Rocket Pharmaceuticals Trading Down 1.7 %

Shares of Rocket Pharmaceuticals stock opened at $8.32 on Friday. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06. The firm has a market cap of $887.16 million, a price-to-earnings ratio of -3.03 and a beta of 1.03. Rocket Pharmaceuticals, Inc. has a 52-week low of $8.06 and a 52-week high of $28.67. The company’s 50-day simple moving average is $9.93 and its 200-day simple moving average is $13.72.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its quarterly earnings data on Monday, March 3rd. The biotechnology company reported ($0.62) EPS for the quarter, beating the consensus estimate of ($0.68) by $0.06. As a group, equities research analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share 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.