Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Shares Bought by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC grew its holdings in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) by 15.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,500 shares of the biotechnology company’s stock after buying an additional 5,010 shares during the period. Pier 88 Investment Partners LLC’s holdings in Rocket Pharmaceuticals were worth $471,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP raised its stake in 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 valued at $175,919,000 after acquiring an additional 2,753,033 shares in the last quarter. Schroder Investment Management Group increased its holdings in shares of Rocket Pharmaceuticals by 76.0% during the fourth quarter. Schroder Investment Management Group now owns 413,550 shares of the biotechnology company’s stock valued at $4,975,000 after purchasing an additional 178,546 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Rocket Pharmaceuticals by 68.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 20,196 shares of the biotechnology company’s stock valued at $254,000 after purchasing an additional 8,190 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in Rocket Pharmaceuticals in the fourth quarter worth about $313,000. Finally, Vanguard Group Inc. grew its position in Rocket Pharmaceuticals by 18.8% in the 4th quarter. Vanguard Group Inc. now owns 6,577,595 shares of the biotechnology company’s stock valued at $82,680,000 after buying an additional 1,040,655 shares in the last quarter. 98.39% of the stock is currently owned by institutional investors and hedge funds.

Rocket Pharmaceuticals Trading Down 3.7 %

NASDAQ:RCKT opened at $7.59 on Monday. The stock has a fifty day simple moving average of $9.62 and a 200 day simple moving average of $13.20. The firm has a market capitalization of $809.32 million, a price-to-earnings ratio of -2.76 and a beta of 1.03. Rocket Pharmaceuticals, Inc. has a 1-year low of $7.45 and a 1-year high of $26.99. 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 announced its earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) EPS for the quarter, topping the consensus estimate of ($0.68) by $0.06. Sell-side analysts forecast that Rocket Pharmaceuticals, Inc. will post -2.83 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Jefferies Financial Group initiated coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, December 18th. They set a “buy” rating and a $29.00 price target on the stock. Scotiabank upped their target price on Rocket Pharmaceuticals from $51.00 to $52.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 3rd. Wedbush initiated coverage on Rocket Pharmaceuticals in a research report on Monday, December 30th. They set an “outperform” rating and a $32.00 price target on the stock. Canaccord Genuity Group dropped their price objective on 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, The Goldman Sachs Group decreased their target price on Rocket Pharmaceuticals from $29.00 to $15.00 and set a “neutral” rating for the company in a research note on Monday, March 3rd. 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

Rocket Pharmaceuticals 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.