State Board of Administration of Florida Retirement System Trims Stock Position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

State Board of Administration of Florida Retirement System trimmed its stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT – Get Rating) by 7.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,490 shares of the biotechnology company’s stock after selling 1,410 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Rocket Pharmaceuticals were worth $323,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Granite Point Capital Management L.P. lifted its holdings in Rocket Pharmaceuticals by 16.7% in the fourth quarter. Granite Point Capital Management L.P. now owns 140,000 shares of the biotechnology company’s stock worth $2,740,000 after buying an additional 20,000 shares during the period. Envestnet Asset Management Inc. bought a new stake in shares of Rocket Pharmaceuticals during the fourth quarter valued at approximately $255,000. TD Asset Management Inc grew its stake in Rocket Pharmaceuticals by 27.3% in the fourth quarter. TD Asset Management Inc now owns 42,215 shares of the biotechnology company’s stock worth $826,000 after purchasing an additional 9,063 shares during the period. New Leaf Venture Partners L.L.C. bought a new position in Rocket Pharmaceuticals in the fourth quarter worth $2,314,000. Finally, Synovus Financial Corp lifted its position in Rocket Pharmaceuticals by 47.7% during the fourth quarter. Synovus Financial Corp now owns 128,914 shares of the biotechnology company’s stock valued at $2,523,000 after buying an additional 41,661 shares during the period. Institutional investors own 93.23% of the company’s stock.

Analysts Set New Price Targets

RCKT has been the subject of several research reports. Needham & Company LLC reiterated a “buy” rating and issued a $60.00 price target on shares of Rocket Pharmaceuticals in a research note on Wednesday, April 19th. Chardan Capital dropped their price target on Rocket Pharmaceuticals from $63.00 to $61.00 in a research report on Friday, May 5th. William Blair restated an “outperform” rating on shares of Rocket Pharmaceuticals in a research note on Wednesday, March 22nd. StockNews.com started coverage on Rocket Pharmaceuticals in a research note on Thursday. They set a “sell” rating for the company. Finally, Morgan Stanley started coverage on Rocket Pharmaceuticals in a research note on Wednesday, February 1st. They issued an “overweight” rating and a $45.00 target price on the stock. One research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Rocket Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $51.09.

Rocket Pharmaceuticals Price Performance

Shares of NASDAQ:RCKT opened at $21.92 on Friday. Rocket Pharmaceuticals, Inc. has a fifty-two week low of $9.50 and a fifty-two week high of $23.48. The business has a 50-day simple moving average of $18.44 and a two-hundred day simple moving average of $19.24. The company has a debt-to-equity ratio of 0.04, a quick ratio of 10.83 and a current ratio of 10.83. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of -6.54 and a beta of 1.23.

Rocket Pharmaceuticals (NASDAQ:RCKT – Get Rating) last released its quarterly earnings data on Thursday, May 4th. The biotechnology company reported ($0.73) earnings per share for the quarter, beating the consensus estimate of ($0.84) by $0.11. During the same quarter in the previous year, the firm earned ($0.67) EPS. On average, analysts expect that Rocket Pharmaceuticals, Inc. will post -3.08 earnings per share for the current year.

Insider Buying and Selling at Rocket Pharmaceuticals

In other news, insider John Militello sold 2,342 shares of the firm’s stock in a transaction on Friday, April 21st. The stock was sold at an average price of $18.65, for a total value of $43,678.30. Following the transaction, the insider now directly owns 5,636 shares in the company, valued at approximately $105,111.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 33.67% of the company’s stock.

Rocket Pharmaceuticals Company Profile

(Get Rating)

Rocket Pharmaceuticals, Inc is a clinical-stage biotechnology company, which engages in the development of gene therapy treatment options for rare and devastating pediatric diseases. Its multi-platform development approach applies the lentiviral vector and adeno-associated viral vector gene therapy platforms.