NEOS Investment Management LLC Lowers Stock Holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

NEOS Investment Management LLC reduced its stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 18.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,985 shares of the biotechnology company’s stock after selling 20,469 shares during the period. NEOS Investment Management LLC owned 0.10% of Rocket Pharmaceuticals worth $1,144,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Signaturefd LLC increased its holdings in Rocket Pharmaceuticals by 319.8% during the 4th quarter. Signaturefd LLC now owns 4,916 shares of the biotechnology company’s stock worth $62,000 after purchasing an additional 3,745 shares during the period. Harbour Investments Inc. lifted its stake in Rocket Pharmaceuticals by 51.9% in the fourth quarter. Harbour Investments Inc. now owns 5,385 shares of the biotechnology company’s stock worth $68,000 after acquiring an additional 1,840 shares during the period. KBC Group NV lifted its stake in Rocket Pharmaceuticals by 159.6% in the fourth quarter. KBC Group NV now owns 5,475 shares of the biotechnology company’s stock worth $69,000 after acquiring an additional 3,366 shares during the period. E Fund Management Co. Ltd. bought a new position in Rocket Pharmaceuticals during the 4th quarter worth about $139,000. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Rocket Pharmaceuticals in the 4th quarter valued at about $141,000. Institutional investors own 98.39% of the company’s stock.

Rocket Pharmaceuticals Trading Down 3.7 %

Shares of Rocket Pharmaceuticals stock opened at $7.59 on Friday. The firm’s 50 day simple moving average is $9.62 and its two-hundred day simple moving average is $13.24. The firm has a market capitalization of $809.32 million, a price-to-earnings ratio of -2.76 and a beta of 1.03. Rocket Pharmaceuticals, Inc. has a 12-month low of $7.48 and a 12-month high of $26.99. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.06. Analysts predict that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on RCKT. The Goldman Sachs Group dropped their price objective on shares of Rocket Pharmaceuticals from $29.00 to $15.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Chardan Capital dropped their target price on Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. BMO Capital Markets started coverage on Rocket Pharmaceuticals in a report on Wednesday, March 12th. They issued an “outperform” rating and a $50.00 price target on the stock. Jefferies Financial Group assumed coverage on Rocket Pharmaceuticals in a research note on Wednesday, December 18th. They set a “buy” rating and a $29.00 price objective for the company. Finally, Scotiabank lifted their target price on Rocket Pharmaceuticals from $51.00 to $52.00 and gave the company a “sector outperform” rating in a research note on Monday, March 3rd. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

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.