Morgan Stanley Sells 17,304 Shares of resTORbio, Inc. (NASDAQ:TORC)

Morgan Stanley cut its stake in shares of resTORbio, Inc. (NASDAQ:TORC) by 61.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 11,014 shares of the company’s stock after selling 17,304 shares during the period. Morgan Stanley’s holdings in resTORbio were worth $113,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in TORC. Parametric Portfolio Associates LLC bought a new stake in resTORbio during the second quarter valued at approximately $146,000. Bank of New York Mellon Corp lifted its holdings in shares of resTORbio by 54.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 45,404 shares of the company’s stock worth $464,000 after acquiring an additional 16,007 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of resTORbio by 38.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 91,742 shares of the company’s stock worth $936,000 after acquiring an additional 25,637 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of resTORbio by 36.9% in the 2nd quarter. Northern Trust Corp now owns 108,130 shares of the company’s stock worth $1,103,000 after acquiring an additional 29,128 shares during the last quarter. Finally, Ruffer LLP bought a new stake in shares of resTORbio in the 2nd quarter worth approximately $1,196,000. Institutional investors and hedge funds own 50.99% of the company’s stock.

A number of brokerages have recently weighed in on TORC. ValuEngine upgraded shares of resTORbio from a “hold” rating to a “buy” rating in a report on Thursday, September 12th. Cantor Fitzgerald lowered shares of resTORbio from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $23.00 to $3.00 in a report on Friday. Zacks Investment Research lowered shares of resTORbio from a “hold” rating to a “sell” rating in a report on Saturday, November 9th. Wedbush lowered shares of resTORbio from an “outperform” rating to a “neutral” rating in a report on Friday. Finally, Svb Leerink lowered shares of resTORbio from an “outperform” rating to a “market perform” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $14.00.

Shares of TORC opened at $1.09 on Friday. The firm has a 50 day moving average price of $7.59 and a 200-day moving average price of $8.92. The firm has a market cap of $306.49 million, a price-to-earnings ratio of -0.77 and a beta of 3.15. resTORbio, Inc. has a fifty-two week low of $0.94 and a fifty-two week high of $14.05.

resTORbio (NASDAQ:TORC) last released its earnings results on Tuesday, November 5th. The company reported ($0.68) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.54) by ($0.14). Equities research analysts forecast that resTORbio, Inc. will post -2.35 EPS for the current year.

resTORbio Company Profile

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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Institutional Ownership by Quarter for resTORbio (NASDAQ:TORC)

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