Published on 20 Oct 2023 on Insider Monkey via Yahoo Finance
Should You Hold Rocket Pharmaceuticals (RCKT)?
Baron Funds, an investment management company, released its “Baron Health Care Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. The fund declined 6.05% (Institutional Shares) in the quarter compared to a 3.88% loss for the Russell 3000 Health Care Index and a 3.27% loss for the S&P 500 Index. Year-to-date through September 30, 2023, the fund declined 1.17%, compared to a 3.83% decline for the Russell 3000 Health Care Index and a 13.07% increase for the S&P 500 Index. The combination of stock selection and active sub-industry weights drove the underperformance of the fund in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Baron Health Care Fund highlighted stocks like Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) in the third quarter 2023 investor letter. Headquartered in Cranbury, New Jersey, Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) is a multi-platform biotechnology company. On October 19, 2023, Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) stock closed at $17.06 per share. One-month return of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) was -16.37%, and its shares lost 2.90% of their value over the last 52 weeks. Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) has a market capitalization of $1.535 billion.
Baron Health Care Fund made the following comment about Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) in its Q3 2023 investor letter: