Principal Financial Group Inc. Has $829,000 Stock Holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Principal Financial Group Inc. grew its holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKTFree Report) by 71.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 30,774 shares of the biotechnology company’s stock after buying an additional 12,811 shares during the quarter. Principal Financial Group Inc.’s holdings in Rocket Pharmaceuticals were worth $829,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Amalgamated Bank increased its stake in shares of Rocket Pharmaceuticals by 5.4% in the fourth quarter. Amalgamated Bank now owns 8,653 shares of the biotechnology company’s stock valued at $259,000 after buying an additional 440 shares in the last quarter. Torray Investment Partners LLC grew its position in shares of Rocket Pharmaceuticals by 1.1% during the 4th quarter. Torray Investment Partners LLC now owns 60,856 shares of the biotechnology company’s stock worth $1,824,000 after buying an additional 679 shares during the period. WCM Investment Management LLC grew its position in shares of Rocket Pharmaceuticals by 0.6% during the 1st quarter. WCM Investment Management LLC now owns 297,658 shares of the biotechnology company’s stock worth $8,019,000 after buying an additional 1,645 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Rocket Pharmaceuticals by 105.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,557 shares of the biotechnology company’s stock worth $107,000 after buying an additional 1,829 shares during the period. Finally, Arizona State Retirement System grew its position in shares of Rocket Pharmaceuticals by 17.6% during the 4th quarter. Arizona State Retirement System now owns 18,864 shares of the biotechnology company’s stock worth $565,000 after buying an additional 2,828 shares during the period. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Rocket Pharmaceuticals Stock Down 0.3 %

Shares of NASDAQ RCKT opened at $19.96 on Friday. The stock’s fifty day moving average price is $22.09 and its two-hundred day moving average price is $25.74. The company has a quick ratio of 10.47, a current ratio of 10.47 and a debt-to-equity ratio of 0.04. Rocket Pharmaceuticals, Inc. has a one year low of $14.89 and a one year high of $32.53.

Rocket Pharmaceuticals (NASDAQ:RCKTGet Free Report) last released its earnings results on Monday, May 6th. The biotechnology company reported ($0.66) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.01. During the same period in the prior year, the company earned ($0.73) EPS. On average, sell-side analysts anticipate that Rocket Pharmaceuticals, Inc. will post -3 earnings per share for the current year.

Analyst Ratings Changes

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

Get Our Latest Report on Rocket Pharmaceuticals

Insider Activity

In other news, CEO Gaurav Shah sold 9,790 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $23.35, for a total transaction of $228,596.50. Following the completion of the sale, the chief executive officer now directly owns 728,069 shares in the company, valued at approximately $17,000,411.15. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director David P. Southwell sold 70,000 shares of the company’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $24.36, for a total transaction of $1,705,200.00. Following the completion of the sale, the director now directly owns 95,160 shares in the company, valued at approximately $2,318,097.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Gaurav Shah sold 9,790 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $23.35, for a total value of $228,596.50. Following the completion of the transaction, the chief executive officer now owns 728,069 shares of the company’s stock, valued at $17,000,411.15. The disclosure for this sale can be found here. In the last three months, insiders sold 105,282 shares of company stock worth $2,551,801. 31.10% of the stock is currently owned by company insiders.

Rocket Pharmaceuticals Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Rocket Pharmaceuticals (NASDAQ:RCKT)

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