Federated Hermes Inc. Acquires New Position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Federated Hermes Inc. acquired a new stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 414,497 shares of the biotechnology company's stock, valued at approximately $2,765,000. Federated Hermes Inc. owned about 0.39% of Rocket Pharmaceuticals as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Covestor Ltd increased its holdings in Rocket Pharmaceuticals by 33,166.7% in the fourth quarter. Covestor Ltd now owns 1,996 shares of the biotechnology company's stock valued at $25,000 after buying an additional 1,990 shares during the last quarter. Signaturefd LLC increased its holdings in Rocket Pharmaceuticals by 83.6% in the first quarter. Signaturefd LLC now owns 9,024 shares of the biotechnology company's stock valued at $60,000 after buying an additional 4,108 shares during the last quarter. Virtus ETF Advisers LLC increased its holdings in Rocket Pharmaceuticals by 40.4% in the fourth quarter. Virtus ETF Advisers LLC now owns 5,656 shares of the biotechnology company's stock valued at $71,000 after buying an additional 1,628 shares during the last quarter. LJI Wealth Management LLC bought a new stake in Rocket Pharmaceuticals in the first quarter valued at about $80,000. Finally, Victory Capital Management Inc. increased its holdings in Rocket Pharmaceuticals by 16.1% in the first quarter. Victory Capital Management Inc. now owns 11,929 shares of the biotechnology company's stock valued at $80,000 after buying an additional 1,658 shares during the last quarter. 98.39% of the stock is owned by institutional investors.

Rocket Pharmaceuticals Stock Performance

Shares of RCKT stock opened at $3.07 on Tuesday. Rocket Pharmaceuticals, Inc. has a 12-month low of $2.19 and a 12-month high of $22.01. The firm has a market capitalization of $327.85 million, a price-to-earnings ratio of -1.17 and a beta of 0.65. The business has a 50 day simple moving average of $2.90 and a 200 day simple moving average of $6.32. The company has a debt-to-equity ratio of 0.05, a current ratio of 9.19 and a quick ratio of 9.19.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The biotechnology company reported ($0.56) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.58) by $0.02. During the same period in the prior year, the business earned ($0.66) earnings per share. On average, equities research analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. UBS Group lowered their price objective on Rocket Pharmaceuticals from $12.00 to $5.00 and set a "buy" rating for the company in a report on Tuesday, June 17th. The Goldman Sachs Group cut Rocket Pharmaceuticals from a "neutral" rating to a "sell" rating in a research report on Wednesday, May 28th. Scotiabank cut their price target on Rocket Pharmaceuticals from $51.00 to $19.00 and set a "sector outperform" rating on the stock in a report on Wednesday, May 28th. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Rocket Pharmaceuticals in a report on Wednesday, May 28th. Finally, TD Cowen reissued a "hold" rating on shares of Rocket Pharmaceuticals in a report on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $17.87.

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.

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