Tudor Investment Corp ET AL Increases Position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Tudor Investment Corp ET AL lifted its stake in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 85.4% in the 4th quarter, Holdings Channel reports. The firm owned 31,125 shares of the biotechnology company’s stock after purchasing an additional 14,338 shares during the quarter. Tudor Investment Corp ET AL’s holdings in Rocket Pharmaceuticals were worth $391,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in shares of Rocket Pharmaceuticals by 24.5% during the 4th 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. Avoro Capital Advisors LLC acquired a new position in Rocket Pharmaceuticals during the fourth quarter worth $15,084,000. Vanguard Group Inc. boosted its position 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 in the last quarter. Marshall Wace LLP grew its holdings in Rocket Pharmaceuticals by 4,422.4% in the fourth quarter. Marshall Wace LLP now owns 456,762 shares of the biotechnology company’s stock valued at $5,741,000 after purchasing an additional 446,662 shares during the last quarter. Finally, Voss Capital LP purchased a new position in shares of Rocket Pharmaceuticals in the fourth quarter valued at $5,301,000. Hedge funds and other institutional investors own 98.39% of the company’s stock.

Insider Transactions at Rocket Pharmaceuticals

In other news, insider Kinnari Patel purchased 21,099 shares of the company’s stock in a transaction on Wednesday, April 9th. The stock was bought at an average cost of $4.70 per share, for a total transaction of $99,165.30. Following the completion of the purchase, the insider now directly owns 26,774 shares of the company’s stock, valued at $125,837.80. The trade was a 371.79 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Gaurav Shah acquired 20,000 shares of Rocket Pharmaceuticals stock in a transaction dated Thursday, April 10th. The stock was purchased at an average cost of $5.08 per share, for a total transaction of $101,600.00. Following the completion of the purchase, the chief executive officer now directly owns 792,680 shares in the company, valued at approximately $4,026,814.40. This represents a 2.59 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 28.50% of the company’s stock.

Rocket Pharmaceuticals Stock Down 1.0 %

RCKT opened at $6.97 on Friday. The stock has a market capitalization of $744.30 million, a price-to-earnings ratio of -2.53 and a beta of 1.02. 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 business has a 50-day moving average of $7.15 and a two-hundred day moving average of $10.70.

Rocket Pharmaceuticals (NASDAQ:RCKT) last released its earnings results on Thursday, May 8th. The biotechnology company reported ($0.56) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.03. During the same quarter in the previous year, the company earned ($0.66) earnings per share. On average, research analysts expect that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Scotiabank boosted their price objective on shares of Rocket Pharmaceuticals from $51.00 to $52.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 3rd. Canaccord Genuity Group dropped their price objective on shares of Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $42.00 target price on shares of Rocket Pharmaceuticals in a research note on Wednesday, April 9th. The Goldman Sachs Group lowered their target price on Rocket Pharmaceuticals from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Friday. Finally, BMO Capital Markets assumed coverage on Rocket Pharmaceuticals in a research report on Wednesday, March 12th. They issued an “outperform” rating and a $50.00 price objective on the stock. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $41.09.

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.