Westfield Capital Management Co. LP Acquires 106,091 Shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Key Points

• Westfield Capital Management Co. LP increased its stake in Rocket Pharmaceuticals by 2.3%, owning approximately 4.51% of the company, which is valued at $32.15 million.
• Numerous institutional investors, including California State Teachers Retirement System and Two Sigma Investments, have made significant adjustments to their holdings in Rocket Pharmaceuticals, with 98.39% of the company's stock now owned by institutional investors.
• Wall Street analysts generally have a "Hold" rating on Rocket Pharmaceuticals, with an average target price of $17.87, while some of the analysts have significantly downgraded their price objectives recently.

Westfield Capital Management Co. LP grew its holdings in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 2.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 4,820,701 shares of the biotechnology company's stock after acquiring an additional 106,091 shares during the quarter. Westfield Capital Management Co. LP owned about 4.51% of Rocket Pharmaceuticals worth $32,154,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RCKT. Covestor Ltd lifted its position in shares of Rocket Pharmaceuticals by 33,166.7% in the fourth quarter. Covestor Ltd now owns 1,996 shares of the biotechnology company's stock worth $25,000 after purchasing an additional 1,990 shares in the last quarter. Virtus ETF Advisers LLC increased its position in shares of Rocket Pharmaceuticals by 40.4% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,656 shares of the biotechnology company's stock valued at $71,000 after purchasing an additional 1,628 shares during the period. Signaturefd LLC boosted its position in shares of Rocket Pharmaceuticals by 83.6% during the 1st quarter. Signaturefd LLC now owns 9,024 shares of the biotechnology company's stock valued at $60,000 after acquiring an additional 4,108 shares in the last quarter. Mariner LLC acquired a new stake in Rocket Pharmaceuticals in the 4th quarter valued at $139,000. Finally, Victory Capital Management Inc. lifted its holdings in Rocket Pharmaceuticals by 16.1% during the 1st quarter. Victory Capital Management Inc. now owns 11,929 shares of the biotechnology company's stock valued at $80,000 after purchasing an additional 1,658 shares during the last quarter. Institutional investors own 98.39% of the company's stock.

Rocket Pharmaceuticals Stock Up 2.3%

Shares of NASDAQ:RCKT traded up $0.07 on Thursday, hitting $3.09. 2,228,397 shares of the company traded hands, compared to its average volume of 3,078,512. The company has a market cap of $329.98 million, a PE ratio of -1.17 and a beta of 0.65. The stock has a 50 day simple moving average of $2.94 and a 200-day simple moving average of $6.22. Rocket Pharmaceuticals, Inc. has a 52 week low of $2.19 and a 52 week high of $22.01. The company has a quick ratio of 9.19, a current ratio of 9.19 and a debt-to-equity ratio of 0.05.

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

Analysts Set New Price Targets

RCKT has been the subject of several research reports. Jefferies Financial Group reissued a "hold" rating on shares of Rocket Pharmaceuticals in a research note on Wednesday, May 28th. Canaccord Genuity Group lowered their target price on Rocket Pharmaceuticals from $11.00 to $10.00 and set a "buy" rating for the company in a research note on Friday, July 25th. Scotiabank decreased their target price on shares of Rocket Pharmaceuticals from $51.00 to $19.00 and set a "sector outperform" rating for the company in a research report on Wednesday, May 28th. Needham & Company LLC reiterated a "hold" rating on shares of Rocket Pharmaceuticals in a report on Thursday, July 24th. Finally, Leerink Partnrs lowered shares of Rocket Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Rocket Pharmaceuticals currently has an average rating of "Hold" and an average price target of $17.87.

Rocket Pharmaceuticals Company Profile

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.