What Makes Rocket Pharmaceuticals (RCKT) Shares Attractive?

Baron Funds, an investment management company, released its “Baron Opportunity Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund declined 4.54% (Institutional Shares) compared to a 2.31% return for the Russell 3000 Growth Index and a 7.56% return for the S&P 500 Index. For the one-year period, the fund fell sharply trailing both indexes. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Baron Opportunity Fund highlighted stocks like Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) in the Q4 2022 investor letter. Headquartered in Cranbury, New Jersey, Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) is a biotechnology company. On February 28, 2023, Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) stock closed at $19.21 per share. One-month return of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) was -12.64%, and its shares gained 13.74% of their value over the last 52 weeks. Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) has a market capitalization of $1.512 billion.

Baron Opportunity Fund made the following comment about Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) in its Q4 2022 investor letter:

“Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) is a biotechnology company focused on the treatment of non-oncological genetic diseases via gene therapy. We are bullish on the company for the four clinical programs in Danon disease, LAL-D, Fancomi Anemia, and Pyruvate Kinase Disorders. We think each program has a high probability of success and can underwrite a few billion in sales for the company during the next few years given the high unmet need for treatment of these diseases.”

Photo by National Cancer Institute on Unsplash

Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 23 hedge fund portfolios held Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) at the end of the fourth quarter which was 29 in the previous quarter.

We discussed Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) in another article and shared the list of cash-rich small cap stocks to invest in. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.