Tema Etfs LLC Invests $1.14 Million in Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT)

Tema Etfs LLC purchased a new position in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 90,985 shares of the biotechnology company’s stock, valued at approximately $1,144,000. Tema Etfs LLC owned approximately 0.10% of Rocket Pharmaceuticals at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP boosted its position in shares of Rocket Pharmaceuticals by 24.5% in the fourth 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 during the last quarter. Suvretta Capital Management LLC acquired a new stake in shares of Rocket Pharmaceuticals in the fourth quarter worth approximately $32,267,000. Janus Henderson Group PLC boosted its position in shares of Rocket Pharmaceuticals by 111.0% in the fourth quarter. Janus Henderson Group PLC now owns 4,004,039 shares of the biotechnology company’s stock worth $50,343,000 after acquiring an additional 2,106,699 shares during the last quarter. Point72 Asset Management L.P. boosted its position in shares of Rocket Pharmaceuticals by 3,163.9% in the fourth quarter. Point72 Asset Management L.P. now owns 1,569,823 shares of the biotechnology company’s stock worth $19,733,000 after acquiring an additional 1,521,727 shares during the last quarter. Finally, Boxer Capital Management LLC acquired a new stake in shares of Rocket Pharmaceuticals in the fourth quarter worth approximately $18,428,000. 98.39% of the stock is currently owned by hedge funds and other institutional investors.

Rocket Pharmaceuticals Trading Down 3.3%

NASDAQ RCKT opened at $6.50 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. The company’s fifty day simple moving average is $6.93 and its 200-day simple moving average is $10.28. The stock has a market cap of $694.11 million, a P/E ratio of -2.36 and a beta of 1.02. Rocket Pharmaceuticals, Inc. has a 52 week low of $4.55 and a 52 week high of $26.98.

Rocket Pharmaceuticals (NASDAQ:RCKT) last issued its quarterly earnings results on Tuesday, May 13th. The biotechnology company reported ($0.56) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.02. During the same quarter in the prior year, the business posted ($0.66) earnings per share. Equities research analysts predict that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current fiscal year.

Insider Buying and Selling

In other Rocket Pharmaceuticals news, CFO Aaron Ondrey sold 7,489 shares of the business’s stock in a transaction on Friday, April 4th. The shares were sold at an average price of $5.29, for a total transaction of $39,616.81. Following the completion of the sale, the chief financial officer now owns 129,650 shares in the company, valued at $685,848.50. The trade was a 5.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kinnari Patel bought 21,099 shares of the stock in a transaction on Wednesday, April 9th. The shares were acquired at an average price of $4.70 per share, with a total value of $99,165.30. Following the purchase, the insider now owns 26,774 shares of the company’s stock, valued at $125,837.80. The trade was a 371.79% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 24.76% of the company’s stock.

Wall Street Analyst Weigh In

RCKT has been the topic of several research analyst reports. Scotiabank decreased their target price on shares of Rocket Pharmaceuticals from $52.00 to $51.00 and set a “sector outperform” rating on the stock in a research report on Monday, May 12th. Cantor Fitzgerald lifted their price target on shares of Rocket Pharmaceuticals from $20.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday. Wedbush reaffirmed an “outperform” rating and set a $32.00 price target on shares of Rocket Pharmaceuticals in a research report on Friday. Chardan Capital lifted their price target on shares of Rocket Pharmaceuticals from $45.00 to $46.00 and gave the company a “buy” rating in a research report on Friday. Finally, BMO Capital Markets began coverage on shares of Rocket Pharmaceuticals in a research report on Wednesday, March 12th. They set an “outperform” rating and a $50.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $37.73.

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.