Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP lifted its holdings in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 24.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,995,177 shares of the biotechnology company’s stock after acquiring an additional 2,753,033 shares during the period. Wellington Management Group LLP owned approximately 13.12% of Rocket Pharmaceuticals worth $175,919,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Rocket Pharmaceuticals by 18.8% in the 4th quarter. Vanguard Group Inc. now owns 6,577,595 shares of the biotechnology company’s stock valued at $82,680,000 after purchasing an additional 1,040,655 shares in the last quarter. State Street Corp grew its stake in shares of Rocket Pharmaceuticals by 11.6% in the third quarter. State Street Corp now owns 3,102,022 shares of the biotechnology company’s stock valued at $57,294,000 after buying an additional 322,156 shares in the last quarter. Schroder Investment Management Group lifted its position in Rocket Pharmaceuticals by 76.0% during the 4th quarter. Schroder Investment Management Group now owns 413,550 shares of the biotechnology company’s stock worth $4,975,000 after acquiring an additional 178,546 shares in the last quarter. Sovran Advisors LLC acquired a new position in Rocket Pharmaceuticals during the 4th quarter worth approximately $1,895,000. Finally, Walleye Capital LLC purchased a new position in Rocket Pharmaceuticals in the 3rd quarter worth approximately $2,556,000. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Rocket Pharmaceuticals Stock Performance

Rocket Pharmaceuticals stock opened at $6.30 on Thursday. The company has a market cap of $671.77 million, a PE ratio of -2.29 and a beta of 1.00. Rocket Pharmaceuticals, Inc. has a 12 month low of $5.70 and a 12 month high of $26.98. The company has a fifty day moving average price of $9.38 and a two-hundred day moving average price of $12.96. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05.

Rocket Pharmaceuticals (NASDAQ:RCKT) last announced its quarterly earnings data on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.06. Research analysts expect that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on RCKT shares. Chardan Capital reduced their target price on shares of Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Wedbush started coverage on shares of Rocket Pharmaceuticals in a research report on Monday, December 30th. They issued an “outperform” rating and a $32.00 price objective for the company. Jefferies Financial Group started coverage on Rocket Pharmaceuticals in a research note on Wednesday, December 18th. They set a “buy” rating and a $29.00 target price for the company. Needham & Company LLC cut their price target on Rocket Pharmaceuticals from $52.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Finally, Canaccord Genuity Group lowered their price objective on Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.