AlphaQuest LLC Makes New Investment in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

AlphaQuest LLC bought a new position in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 21,686 shares of the biotechnology company’s stock, valued at approximately $273,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in RCKT. Wellington Management Group LLP lifted its stake in Rocket Pharmaceuticals by 22.8% in the third 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 during the period. Westfield Capital Management Co. LP raised its holdings in shares of Rocket Pharmaceuticals by 3.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 4,493,833 shares of the biotechnology company’s stock valued at $83,001,000 after purchasing an additional 165,911 shares in the last quarter. Maverick Capital Ltd. lifted its position 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 worth $76,072,000 after purchasing an additional 190,360 shares during the period. State Street Corp boosted its stake in shares of Rocket Pharmaceuticals by 11.6% during the third 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 in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Rocket Pharmaceuticals by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,617,866 shares of the biotechnology company’s stock valued at $29,888,000 after buying an additional 14,256 shares during the period. Institutional investors own 98.39% of the company’s stock.

Rocket Pharmaceuticals Stock Up 3.1 %

Shares of RCKT stock opened at $8.76 on Friday. The company has a current ratio of 6.05, a quick ratio of 6.05 and a debt-to-equity ratio of 0.06. Rocket Pharmaceuticals, Inc. has a twelve month low of $8.06 and a twelve month high of $28.67. The stock has a 50 day moving average of $10.22 and a 200 day moving average of $13.97. The stock has a market cap of $934.08 million, a P/E ratio of -3.19 and a beta of 1.03.

Rocket Pharmaceuticals (NASDAQ:RCKT) last posted its earnings results on Monday, March 3rd. The biotechnology company reported ($0.62) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.06. As a group, sell-side analysts expect that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Leerink Partners lowered their target price on Rocket Pharmaceuticals from $46.00 to $44.00 and set an “outperform” rating for the company in a report on Tuesday, November 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Rocket Pharmaceuticals in a research report on Tuesday, November 19th. Needham & Company LLC reduced their target price on shares of Rocket Pharmaceuticals from $52.00 to $42.00 and set a “buy” rating for the company in a report on Friday, February 28th. Canaccord Genuity Group lowered their price target on shares of Rocket Pharmaceuticals from $39.00 to $36.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Finally, Jefferies Financial Group started coverage on shares of Rocket Pharmaceuticals in a research note on Wednesday, December 18th. They set a “buy” rating and a $29.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $43.00.

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.