resTORbio, Inc. (NASDAQ:TORC) has earned an average recommendation of “Hold” from the six brokerages that are currently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $3.00.
Several research analysts recently issued reports on the stock. Wedbush cut shares of resTORbio from an “outperform” rating to a “neutral” rating in a report on Friday, November 15th. Svb Leerink cut shares of resTORbio from an “outperform” rating to a “market perform” rating in a report on Friday, November 15th. Cantor Fitzgerald cut shares of resTORbio from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $23.00 to $3.00 in a report on Friday, November 15th. Zacks Investment Research cut shares of resTORbio from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Guggenheim cut shares of resTORbio from a “buy” rating to a “neutral” rating in a report on Friday, November 15th.
NASDAQ TORC traded down $0.04 during trading hours on Friday, hitting $1.46. 3,078,356 shares of the stock were exchanged, compared to its average volume of 1,781,206. The company has a market cap of $54.67 million, a price-to-earnings ratio of -0.82 and a beta of 2.57. resTORbio has a 12-month low of $0.94 and a 12-month high of $11.96. The stock has a 50-day moving average of $1.35 and a 200 day moving average of $6.67.
In other resTORbio news, major shareholder Puretech Health Llc sold 531,040 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $1.03, for a total value of $546,971.20. Over the last ninety days, insiders sold 7,415,016 shares of company stock valued at $8,847,230. 13.90% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of TORC. Brave Asset Management Inc. increased its holdings in resTORbio by 52.0% in the fourth quarter. Brave Asset Management Inc. now owns 23,250 shares of the company’s stock valued at $35,000 after buying an additional 7,950 shares in the last quarter. Parametric Portfolio Associates LLC purchased a new position in resTORbio in the second quarter valued at about $146,000. Rhumbline Advisers grew its position in shares of resTORbio by 12.4% in the third quarter. Rhumbline Advisers now owns 19,503 shares of the company’s stock valued at $172,000 after purchasing an additional 2,159 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of resTORbio in the third quarter valued at approximately $346,000. Finally, Bank of New York Mellon Corp grew its position in shares of resTORbio by 54.5% in the second quarter. Bank of New York Mellon Corp now owns 45,404 shares of the company’s stock valued at $464,000 after purchasing an additional 16,007 shares during the last quarter. 52.43% of the stock is owned by institutional investors.
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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