Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Shares Sold by Bank of America Corp DE

Bank of America Corp DE trimmed its stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 44.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 224,311 shares of the biotechnology company's stock after selling 181,848 shares during the period. Bank of America Corp DE owned 0.25% of Rocket Pharmaceuticals worth $2,820,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of RCKT. Covestor Ltd boosted its holdings in Rocket Pharmaceuticals by 33,166.7% in the 4th quarter. Covestor Ltd now owns 1,996 shares of the biotechnology company's stock worth $25,000 after buying an additional 1,990 shares during the period. Signaturefd LLC raised its position in Rocket Pharmaceuticals by 319.8% in 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. raised its position in Rocket Pharmaceuticals by 51.9% in the 4th quarter. Harbour Investments Inc. now owns 5,385 shares of the biotechnology company's stock worth $68,000 after purchasing an additional 1,840 shares during the period. KBC Group NV raised its position in Rocket Pharmaceuticals by 159.6% in the 4th quarter. KBC Group NV now owns 5,475 shares of the biotechnology company's stock worth $69,000 after purchasing an additional 3,366 shares during the period. Finally, 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 worth $71,000 after acquiring an additional 1,628 shares during the period. Institutional investors own 98.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on RCKT shares. Leerink Partners reiterated a "market perform" rating and set a $8.00 price objective (down from $37.00) on shares of Rocket Pharmaceuticals in a research note on Wednesday, May 28th. BMO Capital Markets lowered their price objective on shares of Rocket Pharmaceuticals from $30.00 to $8.00 and set an "outperform" rating for the company in a research note on Wednesday, May 28th. Morgan Stanley restated an "equal weight" rating and set a $7.00 target price on shares of Rocket Pharmaceuticals in a research report on Wednesday, May 28th. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Rocket Pharmaceuticals in a research note on Wednesday, May 28th. Finally, The Goldman Sachs Group cut shares of Rocket Pharmaceuticals from a "neutral" rating to a "sell" rating in a research note on Wednesday, May 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $21.21.

Rocket Pharmaceuticals Stock Performance

Shares of NASDAQ:RCKT traded up $0.26 during midday trading on Monday, hitting $2.77. The stock had a trading volume of 8,622,789 shares, compared to its average volume of 1,905,618. The company has a market capitalization of $295.80 million, a PE ratio of -1.01 and a beta of 1.02. The stock has a 50 day moving average price of $6.20 and a two-hundred day moving average price of $9.41. 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, Inc. has a 1 year low of $2.19 and a 1 year high of $26.98.

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

Insiders Place Their Bets

In other Rocket Pharmaceuticals news, CEO Gaurav Shah acquired 20,000 shares of the firm's stock in a transaction on Thursday, April 10th. The stock was bought at an average cost of $5.08 per share, for a total transaction of $101,600.00. Following the completion of the purchase, the chief executive officer now directly owns 792,680 shares in the company, valued at $4,026,814.40. This represents a 2.59% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Kinnari Patel acquired 21,099 shares of the firm's stock in a transaction on Wednesday, April 9th. The shares were acquired at an average price of $4.70 per share, with a total value of $99,165.30. Following the completion of the purchase, the insider now owns 26,774 shares of the company's stock, valued at $125,837.80. This trade represents a 371.79% increase in their ownership of the stock. The disclosure for this purchase can be found here. 24.76% of the stock is currently owned by company insiders.

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.