Rockefeller Capital Management L.P. Reduces Position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Rockefeller Capital Management L.P. reduced its position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 17.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 88,565 shares of the biotechnology company’s stock after selling 19,347 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Rocket Pharmaceuticals were worth $1,113,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of RCKT. Covestor Ltd boosted its stake in Rocket Pharmaceuticals by 33,166.7% during the 4th quarter. Covestor Ltd now owns 1,996 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 1,990 shares during the period. Signaturefd LLC grew its holdings in shares of Rocket Pharmaceuticals by 319.8% during the fourth quarter. Signaturefd LLC now owns 4,916 shares of the biotechnology company’s stock worth $62,000 after buying an additional 3,745 shares during the last quarter. Harbour Investments Inc. increased its position in Rocket Pharmaceuticals by 51.9% in the 4th quarter. Harbour Investments Inc. now owns 5,385 shares of the biotechnology company’s stock valued at $68,000 after acquiring an additional 1,840 shares during the period. KBC Group NV lifted its position in Rocket Pharmaceuticals by 159.6% during 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. Finally, E Fund Management Co. Ltd. purchased a new position in shares of Rocket Pharmaceuticals in the 4th quarter valued at approximately $139,000. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Pharmaceuticals Price Performance

Shares of NASDAQ:RCKT opened at $7.17 on Tuesday. Rocket Pharmaceuticals, Inc. has a one year low of $4.55 and a one year high of $26.98. The stock has a market cap of $764.54 million, a PE ratio of -2.61 and a beta of 1.00. The business’s fifty day moving average price is $7.91 and its two-hundred day moving average price is $11.59. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings data on Monday, March 3rd. The biotechnology company reported ($0.62) EPS for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.06. On average, analysts forecast that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RCKT. Scotiabank increased their price target on Rocket Pharmaceuticals from $51.00 to $52.00 and gave the stock a “sector outperform” rating in a report on Monday, March 3rd. The Goldman Sachs Group dropped their price target on shares of Rocket Pharmaceuticals from $29.00 to $15.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Wedbush started coverage on Rocket Pharmaceuticals in a report on Monday, December 30th. They issued an “outperform” rating and a $32.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $42.00 price objective on shares of Rocket Pharmaceuticals in a report on Wednesday, April 9th. Finally, Canaccord Genuity Group dropped their target price on shares of Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating for the company in a report on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Rocket Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Insider Activity

In other news, insider Kinnari Patel purchased 21,099 shares of the stock in a transaction on Wednesday, April 9th. The stock was purchased at an average price of $4.70 per share, with a total value of $99,165.30. Following the completion of the transaction, the insider now owns 26,774 shares in the company, valued at approximately $125,837.80. The trade was a 371.79 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gaurav Shah acquired 20,000 shares of Rocket Pharmaceuticals stock in a transaction dated Thursday, April 10th. The stock was purchased at an average cost of $5.08 per share, for a total transaction of $101,600.00. Following the completion of the purchase, the chief executive officer now directly owns 792,680 shares in the company, valued at approximately $4,026,814.40. This represents a 2.59 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 28.50% of the company’s stock.

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.