Wellington Management Group LLP Has $84.22 Million Stock Position in Rocket Pharmaceuticals, Inc. $RCKT

Key Points

• Wellington Management Group LLP reduced its holdings in Rocket Pharmaceuticals by 9.8% in Q1, now owning 12,626,491 shares valued at approximately $84.2 million.
• Several hedge funds increased their positions in Rocket Pharmaceuticals, with Signaturefd LLC raising its stake by 83.6%.
• Analysts have mixed ratings for Rocket Pharmaceuticals, with eight ratings as Buy, eight as Hold, and one as Sell, while target prices range widely from $4.00 to $51.00.

Wellington Management Group LLP lessened its stake in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 9.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,626,491 shares of the biotechnology company's stock after selling 1,368,686 shares during the quarter. Wellington Management Group LLP owned 11.82% of Rocket Pharmaceuticals worth $84,219,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in RCKT. Signaturefd LLC raised its stake in Rocket Pharmaceuticals by 83.6% during the 1st quarter. Signaturefd LLC now owns 9,024 shares of the biotechnology company's stock valued at $60,000 after acquiring an additional 4,108 shares in the last quarter. Virtus ETF Advisers LLC raised its position in shares of Rocket Pharmaceuticals by 40.4% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,656 shares of the biotechnology company's stock worth $71,000 after buying an additional 1,628 shares in the last quarter. LJI Wealth Management LLC acquired a new stake in shares of Rocket Pharmaceuticals in the 1st quarter worth approximately $80,000. Victory Capital Management Inc. boosted its holdings in shares of Rocket Pharmaceuticals by 16.1% in the first quarter. Victory Capital Management Inc. now owns 11,929 shares of the biotechnology company's stock valued at $80,000 after acquiring an additional 1,658 shares in the last quarter. Finally, Powell Investment Advisors LLC acquired a new position in shares of Rocket Pharmaceuticals during the first quarter valued at approximately $83,000. 98.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Rocket Pharmaceuticals

In related news, insider Jonathan David Schwartz sold 11,161 shares of the firm's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $3.02, for a total value of $33,706.22. Following the transaction, the insider directly owned 224,094 shares in the company, valued at approximately $676,763.88. This trade represents a 4.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Martin Wilson sold 12,109 shares of the business's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $3.02, for a total transaction of $36,569.18. Following the transaction, the general counsel directly owned 137,054 shares of the company's stock, valued at approximately $413,903.08. This represents a 8.12% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,927 shares of company stock valued at $111,413. 24.76% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RCKT. UBS Group cut their target price on Rocket Pharmaceuticals from $12.00 to $5.00 and set a "buy" rating for the company in a research report on Tuesday, June 17th. Canaccord Genuity Group dropped their price target on shares of Rocket Pharmaceuticals from $11.00 to $10.00 and set a "buy" rating on the stock in a research report on Friday, July 25th. Cantor Fitzgerald cut their target price on shares of Rocket Pharmaceuticals from $10.00 to $8.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Chardan Capital reaffirmed a "buy" rating and issued a $11.00 price target on shares of Rocket Pharmaceuticals in a report on Wednesday, August 20th. Finally, Evercore ISI lowered shares of Rocket Pharmaceuticals from an "outperform" rating to an "in-line" rating and set a $5.00 price objective for the company. in a research note on Friday, May 30th. Eight equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $16.73.

Rocket Pharmaceuticals Stock Down 2.7%

NASDAQ RCKT traded down $0.10 during trading on Monday, hitting $3.54. 2,875,844 shares of the company traded hands, compared to its average volume of 5,754,005. Rocket Pharmaceuticals, Inc. has a 12 month low of $2.19 and a 12 month high of $22.01. The business has a fifty day simple moving average of $3.01 and a 200 day simple moving average of $5.53. The company has a market capitalization of $381.97 million, a P/E ratio of -1.41 and a beta of 0.65. The company has a current ratio of 6.39, a quick ratio of 6.39 and a debt-to-equity ratio of 0.05.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The biotechnology company reported ($0.59) earnings per share for the quarter, missing analysts' consensus estimates of ($0.57) by ($0.02). During the same quarter last year, the company earned ($0.74) earnings per share. As a group, sell-side analysts predict 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.