Bamco Inc. NY Sells 61,957 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Bamco Inc. NY cut its position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 5.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 990,544 shares of the biotechnology company’s stock after selling 61,957 shares during the quarter. Bamco Inc. NY owned about 1.09% of Rocket Pharmaceuticals worth $26,685,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its stake in shares of Rocket Pharmaceuticals by 11.9% in the first 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 buying an additional 314,086 shares during the period. Westfield Capital Management Co. LP grew its position in shares of Rocket Pharmaceuticals by 1.1% in the first quarter. Westfield Capital Management Co. LP now owns 3,984,030 shares of the biotechnology company’s stock valued at $107,330,000 after purchasing an additional 42,171 shares in the last quarter. ProShare Advisors LLC grew its position in shares of Rocket Pharmaceuticals by 9.1% in the first quarter. ProShare Advisors LLC now owns 17,614 shares of the biotechnology company’s stock valued at $475,000 after purchasing an additional 1,468 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Rocket Pharmaceuticals by 4.1% in the first quarter. Russell Investments Group Ltd. now owns 675,769 shares of the biotechnology company’s stock valued at $18,205,000 after purchasing an additional 26,823 shares in the last quarter. Finally, Jennison Associates LLC grew its position in shares of Rocket Pharmaceuticals by 3.5% in the first quarter. Jennison Associates LLC now owns 26,783 shares of the biotechnology company’s stock valued at $722,000 after purchasing an additional 903 shares in the last quarter. 98.39% of the stock is currently owned by institutional investors.

Rocket Pharmaceuticals Price Performance

NASDAQ:RCKT traded down $0.55 during mid-day trading on Friday, reaching $25.33. The stock had a trading volume of 821,175 shares, compared to its average volume of 854,273. The firm has a 50 day moving average price of $22.18 and a two-hundred day moving average price of $25.02. The stock has a market capitalization of $2.30 billion, a P/E ratio of -8.83 and a beta of 1.13. Rocket Pharmaceuticals, Inc. has a one year low of $14.89 and a one year high of $32.53. The company has a debt-to-equity ratio of 0.04, a quick ratio of 10.47 and a current ratio of 10.47.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its earnings results on Monday, May 6th. The biotechnology company reported ($0.66) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.01. During the same period in the prior year, the company posted ($0.73) earnings per share. As a group, analysts expect that Rocket Pharmaceuticals, Inc. will post -2.96 earnings per share for the current year.

Insiders Place Their Bets

In other Rocket Pharmaceuticals news, CEO Gaurav Shah sold 9,790 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $23.35, for a total value of $228,596.50. Following the transaction, the chief executive officer now directly owns 728,069 shares of the company’s stock, valued at approximately $17,000,411.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Rocket Pharmaceuticals news, CEO Gaurav Shah sold 9,790 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $23.35, for a total value of $228,596.50. Following the transaction, the chief executive officer now directly owns 728,069 shares of the company’s stock, valued at approximately $17,000,411.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Militello sold 1,079 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $23.35, for a total value of $25,194.65. Following the completion of the transaction, the insider now directly owns 53,327 shares in the company, valued at $1,245,185.45. The disclosure for this sale can be found here. Insiders have sold 15,755 shares of company stock valued at $358,654 in the last ninety days. Company insiders own 31.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Canaccord Genuity Group reduced their price target on Rocket Pharmaceuticals from $49.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. The Goldman Sachs Group started coverage on Rocket Pharmaceuticals in a research report on Tuesday, April 2nd. They issued a “neutral” rating and a $39.00 price target for the company. William Blair restated an “outperform” rating on shares of Rocket Pharmaceuticals in a research report on Monday, June 3rd. Needham & Company LLC reduced their target price on Rocket Pharmaceuticals from $53.00 to $52.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Finally, Chardan Capital restated a “buy” rating and set a $62.00 target price on shares of Rocket Pharmaceuticals in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $51.25.

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.