Rocket Refocuses Pipeline As Gene Therapy Sentiment Sours
1. RCKT announces workforce reduction of approximately 30%. 2. The company prioritizes the AAV cardiovascular platform and cuts costs by 25%. 3. Recent FDA holds and delays raise concerns over key therapies. 4. Bank of America downgrades RCKT from Buy to Neutral, lowers price target to $4. 5. Stock is down 2.80% reflecting weakened investor confidence.