EntryPoint Capital LLC Purchases New Stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

EntryPoint Capital LLC acquired a new position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 24,903 shares of the biotechnology company’s stock, valued at approximately $313,000.

Several other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in shares of Rocket Pharmaceuticals by 22.8% during the 3rd quarter. Wellington Management Group LLP now owns 11,242,144 shares of the biotechnology company’s stock worth $207,642,000 after acquiring an additional 2,086,424 shares in the last quarter. Vanguard Group Inc. lifted its stake in Rocket Pharmaceuticals by 18.8% during the fourth 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 last quarter. State Street Corp increased 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 valued at $57,294,000 after purchasing an additional 322,156 shares during the last quarter. Maverick Capital Ltd. increased its stake in shares of Rocket Pharmaceuticals by 4.8% in the 3rd quarter. Maverick Capital Ltd. now owns 4,118,672 shares of the biotechnology company’s stock valued at $76,072,000 after purchasing an additional 190,360 shares during the last quarter. Finally, Sovran Advisors LLC acquired a new position in shares of Rocket Pharmaceuticals during the 4th quarter worth $1,895,000. 98.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

RCKT has been the topic of several research analyst reports. Chardan Capital reduced their price objective on Rocket Pharmaceuticals from $62.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. The Goldman Sachs Group decreased their price target on shares of Rocket Pharmaceuticals from $29.00 to $15.00 and set a “neutral” rating on the stock in a report on Monday, March 3rd. Jefferies Financial Group assumed coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, December 18th. They issued a “buy” rating and a $29.00 price objective for the company. Canaccord Genuity Group decreased their target price on shares of Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Finally, BMO Capital Markets began coverage on shares of Rocket Pharmaceuticals in a report on Wednesday, March 12th. They set an “outperform” rating and a $50.00 price target for the company. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

Rocket Pharmaceuticals Stock Up 2.5 %

Shares of NASDAQ:RCKT opened at $7.88 on Friday. The firm has a market cap of $840.24 million, a P/E ratio of -2.87 and a beta of 1.03. Rocket Pharmaceuticals, Inc. has a 12-month low of $7.64 and a 12-month high of $27.30. The business has a fifty day simple moving average of $9.68 and a 200 day simple moving average of $13.36. 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 (NASDAQ:RCKT) last issued its quarterly earnings data on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.06. Analysts predict that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current year.

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.