90,985 Shares in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Purchased by Tema Etfs LLC

Tema Etfs LLC purchased a new stake in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 90,985 shares of the biotechnology company's stock, valued at approximately $1,144,000. Tema Etfs LLC owned about 0.10% of Rocket Pharmaceuticals at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP lifted its position in shares of Rocket Pharmaceuticals by 24.5% during the fourth quarter. Wellington Management Group LLP now owns 13,995,177 shares of the biotechnology company's stock worth $175,919,000 after acquiring an additional 2,753,033 shares in the last quarter. Suvretta Capital Management LLC purchased a new stake in Rocket Pharmaceuticals during the 4th quarter worth about $32,267,000. Janus Henderson Group PLC lifted its holdings in Rocket Pharmaceuticals by 111.0% during the 4th quarter. Janus Henderson Group PLC now owns 4,004,039 shares of the biotechnology company's stock worth $50,343,000 after purchasing an additional 2,106,699 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in Rocket Pharmaceuticals by 3,163.9% in the 4th quarter. Point72 Asset Management L.P. now owns 1,569,823 shares of the biotechnology company's stock worth $19,733,000 after purchasing an additional 1,521,727 shares during the period. Finally, Boxer Capital Management LLC purchased a new position in Rocket Pharmaceuticals during the 4th quarter valued at about $18,428,000. Hedge funds and other institutional investors own 98.39% of the company's stock.

Insider Buying and Selling at Rocket Pharmaceuticals

In other news, CFO Aaron Ondrey sold 7,489 shares of the company's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $5.29, for a total transaction of $39,616.81. Following the completion of the transaction, the chief financial officer now directly owns 129,650 shares of the company's stock, valued at approximately $685,848.50. This represents a 5.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Gaurav Shah purchased 20,000 shares of Rocket Pharmaceuticals stock in a transaction that occurred on Thursday, April 10th. The shares were acquired at an average price of $5.08 per share, for a total transaction of $101,600.00. Following the acquisition, the chief executive officer now owns 792,680 shares in the company, valued at $4,026,814.40. This trade represents a 2.59% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 24.76% of the company's stock.

Analyst Upgrades and Downgrades

RCKT has been the topic of a number of recent analyst reports. BMO Capital Markets started coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, March 12th. They issued an "outperform" rating and a $50.00 price target on the stock. JPMorgan Chase & Co. lowered their target price on shares of Rocket Pharmaceuticals from $45.00 to $44.00 and set an "overweight" rating on the stock in a research note on Friday, May 9th. Scotiabank reduced their price target on shares of Rocket Pharmaceuticals from $52.00 to $51.00 and set a "sector outperform" rating for the company in a research report on Monday, May 12th. Wedbush reaffirmed an "outperform" rating and issued a $32.00 price target on shares of Rocket Pharmaceuticals in a report on Friday, May 16th. Finally, The Goldman Sachs Group dropped their price objective on Rocket Pharmaceuticals from $15.00 to $13.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Rocket Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $37.73.

Rocket Pharmaceuticals Price Performance

RCKT stock traded down $0.26 during mid-day trading on Wednesday, hitting $6.59. 2,486,748 shares of the stock were exchanged, compared to its average volume of 1,502,291. The business has a fifty day moving average price of $6.85 and a 200 day moving average price of $10.14. Rocket Pharmaceuticals, Inc. has a 12 month low of $4.55 and a 12 month high of $26.98. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05. The stock has a market capitalization of $703.72 million, a price-to-earnings ratio of -2.40 and a beta of 1.02.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The biotechnology company reported ($0.56) earnings per share for the quarter, topping the consensus estimate of ($0.58) by $0.02. During the same quarter in the prior year, the company earned ($0.66) earnings per share. On average, sell-side analysts anticipate that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current year.

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.