Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Stock Holdings Boosted by Wellington Management Group LLP

Wellington Management Group LLP boosted its position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 24.5% during the 4th quarter, HoldingsChannel reports. The firm owned 13,995,177 shares of the biotechnology company’s stock after buying an additional 2,753,033 shares during the quarter. Wellington Management Group LLP owned approximately 0.13% of Rocket Pharmaceuticals worth $175,919,000 as of its most recent filing with the Securities & Exchange Commission.

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

Rocket Pharmaceuticals Price Performance

NASDAQ RCKT opened at $6.30 on Thursday. 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 $5.70 and a 1 year high of $26.98. The company has a market cap of $671.77 million, a PE ratio of -2.29 and a beta of 1.00. The stock’s 50-day moving average price is $9.38 and its two-hundred day moving average price is $12.96.

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

Wall Street Analyst Weigh In

RCKT has been the subject of several research analyst reports. BMO Capital Markets initiated coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, March 12th. They issued an “outperform” rating and a $50.00 price objective for the company. The Goldman Sachs Group reduced their price target on shares of Rocket Pharmaceuticals from $29.00 to $15.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. Jefferies Financial Group began coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, December 18th. They set a “buy” rating and a $29.00 price objective on the stock. Canaccord Genuity Group cut their target price on Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Finally, Chardan Capital lowered their price target 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. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Rocket Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $43.00.

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.