ExodusPoint Capital Management LP Has $2.39 Million Stock Position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

ExodusPoint Capital Management LP raised its holdings in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 189.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,879 shares of the biotechnology company's stock after acquiring an additional 124,261 shares during the quarter. ExodusPoint Capital Management LP owned approximately 0.21% of Rocket Pharmaceuticals worth $2,387,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Geode Capital Management LLC grew its position in Rocket Pharmaceuticals by 8.4% during the fourth quarter. Geode Capital Management LLC now owns 1,752,975 shares of the biotechnology company's stock valued at $22,041,000 after purchasing an additional 135,109 shares in the last quarter. Pier 88 Investment Partners LLC boosted its stake in shares of Rocket Pharmaceuticals by 15.4% during the 4th quarter. Pier 88 Investment Partners LLC now owns 37,500 shares of the biotechnology company's stock valued at $471,000 after buying an additional 5,010 shares during the period. Wellington Management Group LLP grew its holdings in shares of Rocket Pharmaceuticals by 24.5% during the 4th quarter. Wellington Management Group LLP now owns 13,995,177 shares of the biotechnology company's stock valued at $175,919,000 after acquiring an additional 2,753,033 shares in the last quarter. Schroder Investment Management Group increased its stake in shares of Rocket Pharmaceuticals by 76.0% in the fourth 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 during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Rocket Pharmaceuticals by 68.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 20,196 shares of the biotechnology company's stock worth $254,000 after acquiring an additional 8,190 shares during the last quarter. Institutional investors and hedge funds own 98.39% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Scotiabank boosted their target price on Rocket Pharmaceuticals from $51.00 to $52.00 and gave the company a "sector outperform" rating in a research note on Monday, March 3rd. Jefferies Financial Group assumed coverage on Rocket Pharmaceuticals in a report on Wednesday, December 18th. They issued a "buy" rating and a $29.00 price objective on the stock. Chardan Capital cut their price objective 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. The Goldman Sachs Group decreased their target price on shares of Rocket Pharmaceuticals from $29.00 to $15.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. Finally, Wedbush initiated coverage on shares of Rocket Pharmaceuticals in a report on Monday, December 30th. They set an "outperform" rating and a $32.00 price target on the stock. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Rocket Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus price target of $43.00.

Rocket Pharmaceuticals Stock Performance

RCKT stock traded up $0.33 during mid-day trading on Friday, reaching $5.27. 5,069,673 shares of the stock traded hands, compared to its average volume of 1,230,549. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average of $8.38 and a two-hundred day moving average of $12.09. The firm has a market capitalization of $561.94 million, a PE ratio of -1.92 and a beta of 1.00. Rocket Pharmaceuticals, Inc. has a 52 week low of $4.55 and a 52 week high of $26.98.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last released its earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.68) by $0.06. As a group, equities analysts predict that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current fiscal year.

Insider Buying and Selling at Rocket Pharmaceuticals

In other news, insider Kinnari Patel acquired 21,099 shares of the firm's stock in a transaction dated Wednesday, April 9th. The shares were bought at an average price of $4.70 per share, with a total value of $99,165.30. Following the acquisition, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Aaron Ondrey sold 7,489 shares of the company's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $5.29, for a total value of $39,616.81. Following the completion of the transaction, the chief financial officer now owns 129,650 shares of the company's stock, valued at $685,848.50. The trade was a 5.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 28.50% of the company's stock.

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.