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

Wellington Management Group LLP lifted its stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 24.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,995,177 shares of the biotechnology company's stock after acquiring an additional 2,753,033 shares during the quarter. Wellington Management Group LLP owned 13.12% of Rocket Pharmaceuticals worth $175,919,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position 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 worth $82,680,000 after purchasing an additional 1,040,655 shares during the period. State Street Corp boosted its stake in shares of Rocket Pharmaceuticals by 11.6% in the 3rd quarter. State Street Corp now owns 3,102,022 shares of the biotechnology company's stock worth $57,294,000 after buying an additional 322,156 shares during the last quarter. Schroder Investment Management Group grew its holdings 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 period. Sovran Advisors LLC purchased a new stake in Rocket Pharmaceuticals during the fourth quarter valued at $1,895,000. Finally, Walleye Capital LLC purchased a new stake in Rocket Pharmaceuticals during the third quarter valued at $2,556,000. 98.39% of the stock is owned by hedge funds and other institutional investors.

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Rocket Pharmaceuticals Price Performance

RCKT stock traded up $0.07 during midday trading on Monday, hitting $5.19. The company's stock had a trading volume of 4,965,649 shares, compared to its average volume of 1,159,449. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.06. Rocket Pharmaceuticals, Inc. has a 12 month low of $4.60 and a 12 month high of $26.98. The company has a 50 day moving average of $9.05 and a two-hundred day moving average of $12.58. The firm has a market capitalization of $553.41 million, a price-to-earnings ratio of -1.89 and a beta of 1.00.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last issued its earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share for the quarter, topping analysts' consensus estimates of ($0.68) by $0.06. On average, analysts expect that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current year.

Analyst Upgrades and Downgrades

RCKT has been the subject of a number of recent research reports. The Goldman Sachs Group cut their price target on Rocket Pharmaceuticals from $29.00 to $15.00 and set a "neutral" rating for the company in a research note on Monday, March 3rd. Needham & Company LLC decreased their price target on shares of Rocket Pharmaceuticals from $52.00 to $42.00 and set a "buy" rating on the stock in a research report on Friday, February 28th. Jefferies Financial Group started coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, December 18th. They set a "buy" rating and a $29.00 price objective for the company. Chardan Capital decreased their target price on Rocket Pharmaceuticals from $62.00 to $54.00 and set a "buy" rating on the stock in a report on Friday, February 28th. Finally, Scotiabank lifted their target price on Rocket Pharmaceuticals from $51.00 to $52.00 and gave the company a "sector outperform" rating in a research report on Monday, March 3rd. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $43.00.

Rocket Pharmaceuticals 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.