Rocket Pharmaceuticals, Inc. $RCKT Shares Sold by Wellington Management Group LLP

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 lowered 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. 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 approximately 11.82% of Rocket Pharmaceuticals worth $84,219,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Virtus ETF Advisers LLC raised its holdings in Rocket Pharmaceuticals by 40.4% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,656 shares of the biotechnology company's stock worth $71,000 after purchasing an additional 1,628 shares in the last quarter. Signaturefd LLC raised its holdings in Rocket Pharmaceuticals by 83.6% during the first quarter. Signaturefd LLC now owns 9,024 shares of the biotechnology company's stock worth $60,000 after purchasing an additional 4,108 shares in the last quarter. Mariner LLC purchased a new position in shares of Rocket Pharmaceuticals during the fourth quarter worth approximately $139,000. Victory Capital Management Inc. grew its position in shares of Rocket Pharmaceuticals by 16.1% during the first quarter. Victory Capital Management Inc. now owns 11,929 shares of the biotechnology company's stock worth $80,000 after acquiring an additional 1,658 shares during the last quarter. Finally, LJI Wealth Management LLC purchased a new position in shares of Rocket Pharmaceuticals during the first quarter worth approximately $80,000. Institutional investors and hedge funds own 98.39% of the company's stock.

Insider Buying and Selling at Rocket Pharmaceuticals

In other Rocket Pharmaceuticals news, General Counsel Martin Wilson sold 12,109 shares of the firm's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $3.02, for a total value of $36,569.18. Following the completion of the sale, the general counsel owned 137,054 shares of the company's stock, valued at approximately $413,903.08. This trade represents a 8.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Elisabeth Bjork bought 10,000 shares of Rocket Pharmaceuticals stock in a transaction on Wednesday, August 27th. The stock was acquired at an average cost of $3.41 per share, with a total value of $34,100.00. Following the acquisition, the director owned 40,000 shares of the company's stock, valued at $136,400. This trade represents a 33.33% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 36,927 shares of company stock valued at $111,413. 24.76% of the stock is owned by company insiders.

Rocket Pharmaceuticals Stock Performance

NASDAQ:RCKT traded up $0.10 during midday trading on Thursday, reaching $3.42. The stock had a trading volume of 2,342,001 shares, compared to its average volume of 3,716,753. The firm has a fifty day simple moving average of $3.03 and a two-hundred day simple moving average of $5.50. Rocket Pharmaceuticals, Inc. has a 12-month low of $2.19 and a 12-month high of $22.01. The company has a quick ratio of 6.39, a current ratio of 6.39 and a debt-to-equity ratio of 0.05. The stock has a market cap of $368.49 million, a P/E ratio of -1.36 and a beta of 0.65.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last posted 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 in the previous year, the firm posted ($0.74) EPS. On average, equities analysts expect that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RCKT. TD Cowen restated a "hold" rating on shares of Rocket Pharmaceuticals in a research report on Tuesday, May 27th. UBS Group lowered their target price on shares of Rocket Pharmaceuticals from $12.00 to $5.00 and set a "buy" rating on the stock in a research report on Tuesday, June 17th. Wedbush restated an "outperform" rating and set a $32.00 target price on shares of Rocket Pharmaceuticals in a research report on Friday, May 16th. BMO Capital Markets lowered their target price on shares of Rocket Pharmaceuticals from $30.00 to $8.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 28th. Finally, Leerink Partnrs lowered shares of Rocket Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 27th. Eight research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Rocket Pharmaceuticals has a consensus rating of "Hold" and a consensus price target of $16.73.

About Rocket Pharmaceuticals

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.