Bamco Inc. NY Trims Position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Bamco Inc. NY trimmed its holdings in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 9.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 884,341 shares of the biotechnology company’s stock after selling 94,990 shares during the period. Bamco Inc. NY’s holdings in Rocket Pharmaceuticals were worth $16,334,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Westfield Capital Management Co. LP boosted its holdings in Rocket Pharmaceuticals by 3.8% in the third quarter. Westfield Capital Management Co. LP now owns 4,493,833 shares of the biotechnology company’s stock valued at $83,001,000 after purchasing an additional 165,911 shares during the last quarter. Maverick Capital Ltd. boosted its stake in shares of Rocket Pharmaceuticals by 4.8% in the third quarter. Maverick Capital Ltd. now owns 4,118,672 shares of the biotechnology company’s stock worth $76,072,000 after buying an additional 190,360 shares during the last quarter. Novo Holdings A S grew its holdings in Rocket Pharmaceuticals by 4.8% during the second quarter. Novo Holdings A S now owns 1,100,000 shares of the biotechnology company’s stock worth $23,683,000 after acquiring an additional 50,000 shares during the period. First Turn Management LLC raised its position in Rocket Pharmaceuticals by 10.8% during the third quarter. First Turn Management LLC now owns 621,306 shares of the biotechnology company’s stock valued at $11,476,000 after acquiring an additional 60,317 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Rocket Pharmaceuticals by 3.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 569,814 shares of the biotechnology company’s stock valued at $10,524,000 after acquiring an additional 20,322 shares during the period. 98.39% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Rocket Pharmaceuticals

In related news, CEO Gaurav Shah sold 11,091 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $13.05, for a total value of $144,737.55. Following the completion of the sale, the chief executive officer now owns 707,328 shares of the company’s stock, valued at approximately $9,230,630.40. This trade represents a 1.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have sold 13,490 shares of company stock valued at $176,045. Corporate insiders own 28.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RCKT. Needham & Company LLC reiterated a “buy” rating and issued a $52.00 target price on shares of Rocket Pharmaceuticals in a research note on Tuesday, November 19th. Cantor Fitzgerald restated an “overweight” rating and set a $65.00 target price on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Leerink Partners reduced their price target on Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating for the company in a report on Tuesday, November 19th. Scotiabank began coverage on Rocket Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $50.00 price objective on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on Rocket Pharmaceuticals from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.00.

Rocket Pharmaceuticals Trading Up 0.1 %

Shares of RCKT stock opened at $14.41 on Tuesday. Rocket Pharmaceuticals, Inc. has a fifty-two week low of $12.62 and a fifty-two week high of $32.53. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.05 and a current ratio of 6.05. The stock’s fifty day moving average is $16.50 and its two-hundred day moving average is $19.51. The firm has a market capitalization of $1.31 billion, a P/E ratio of -5.24 and a beta of 1.09.

About Rocket Pharmaceuticals

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.