Bank of New York Mellon Corp Raises Stock Holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Bank of New York Mellon Corp increased its position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 10.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 239,877 shares of the biotechnology company’s stock after acquiring an additional 22,521 shares during the period. Bank of New York Mellon Corp’s holdings in Rocket Pharmaceuticals were worth $5,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RCKT. EFG Asset Management North America Corp. grew its position in shares of Rocket Pharmaceuticals by 47.0% during the 2nd quarter. EFG Asset Management North America Corp. now owns 222,046 shares of the biotechnology company’s stock valued at $4,780,000 after acquiring an additional 71,044 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Rocket Pharmaceuticals by 31.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,160 shares of the biotechnology company’s stock valued at $68,000 after acquiring an additional 764 shares during the period. Harbor Capital Advisors Inc. grew its position in shares of Rocket Pharmaceuticals by 19.3% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 97,134 shares of the biotechnology company’s stock valued at $2,091,000 after acquiring an additional 15,708 shares during the period. Janus Henderson Group PLC grew its position in shares of Rocket Pharmaceuticals by 174.3% during the 1st quarter. Janus Henderson Group PLC now owns 2,606,016 shares of the biotechnology company’s stock valued at $70,170,000 after acquiring an additional 1,656,111 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Rocket Pharmaceuticals by 11.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,943,160 shares of the biotechnology company’s stock valued at $79,290,000 after acquiring an additional 314,086 shares during the period. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Rocket Pharmaceuticals Stock Up 3.7 %

Shares of NASDAQ RCKT opened at $19.65 on Friday. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -6.85 and a beta of 1.09. The company has a quick ratio of 7.79, a current ratio of 7.79 and a debt-to-equity ratio of 0.05. Rocket Pharmaceuticals, Inc. has a 52-week low of $16.55 and a 52-week high of $32.53. The business’s 50 day moving average is $20.70 and its two-hundred day moving average is $22.93.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its quarterly earnings data on Monday, August 5th. The biotechnology company reported ($0.74) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.02). During the same period last year, the firm earned ($0.82) earnings per share. Research analysts predict that Rocket Pharmaceuticals, Inc. will post -2.97 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on RCKT shares. Chardan Capital restated a “buy” rating and set a $62.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, August 6th. Needham & Company LLC restated a “buy” rating and set a $52.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, August 6th. Canaccord Genuity Group lowered their price objective on Rocket Pharmaceuticals from $49.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. William Blair reiterated an “outperform” rating on shares of Rocket Pharmaceuticals in a report on Monday, June 3rd. Finally, JPMorgan Chase & Co. boosted their target price on Rocket Pharmaceuticals from $50.00 to $54.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $52.29.

Insider Transactions at Rocket Pharmaceuticals

In other news, insider Mark Andrew White sold 3,026 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $20.39, for a total transaction of $61,700.14. Following the sale, the insider now owns 72,220 shares of the company’s stock, valued at $1,472,565.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.