resTORbio (NASDAQ:TORC) Trading Up 11.5%

resTORbio, Inc. (NASDAQ:TORC)’s share price was up 11.5% during mid-day trading on Wednesday . The stock traded as high as $2.30 and last traded at $2.23, approximately 1,947,318 shares traded hands during mid-day trading. An increase of 41% from the average daily volume of 1,383,628 shares. The stock had previously closed at $2.00.

Several research analysts have issued reports on TORC shares. Zacks Investment Research lowered shares of resTORbio from a “buy” rating to a “hold” rating in a research report on Thursday, May 21st. FIG Partners restated a “reduce” rating on shares of resTORbio in a research report on Thursday, May 28th. Finally, Evercore ISI upgraded shares of resTORbio from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $2.00 to $4.00 in a research report on Wednesday, April 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $9.25.

The stock has a market cap of $73.62 million, a P/E ratio of -1.03 and a beta of 2.60. The firm’s fifty day moving average is $1.66 and its 200 day moving average is $1.45.

resTORbio (NASDAQ:TORC) last announced its earnings results on Thursday, May 7th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.15. Equities research analysts anticipate that resTORbio, Inc. will post -1.24 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its stake in shares of resTORbio by 46.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 26,432 shares of the company’s stock worth $39,000 after buying an additional 8,380 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of resTORbio by 4.3% during the first quarter. Geode Capital Management LLC now owns 347,941 shares of the company’s stock worth $358,000 after buying an additional 14,404 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of resTORbio by 55.7% during the first quarter. Bank of New York Mellon Corp now owns 80,271 shares of the company’s stock worth $83,000 after buying an additional 28,710 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of resTORbio by 371.8% during the first quarter. Wells Fargo & Company MN now owns 36,820 shares of the company’s stock worth $38,000 after buying an additional 29,016 shares during the last quarter. Finally, BlackRock Inc. increased its stake in resTORbio by 2.5% in the first quarter. BlackRock Inc. now owns 1,581,737 shares of the company’s stock valued at $1,628,000 after purchasing an additional 39,036 shares in the last quarter. Institutional investors own 36.31% of the company’s stock.

resTORbio Company Profile (NASDAQ:TORC)

resTORbio, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for the treatment of aging-related diseases. Its lead program is targeting the selective inhibition of TORC1, an evolutionary conserved pathway that contributes to the decline in function of multiple organ systems, including the immune, cardiac, and neurologic systems.

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