resTORbio (NASDAQ:TORC) Cut to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of resTORbio (NASDAQ:TORC) from a buy rating to a hold rating in a research report released on Thursday morning, Zacks.com reports.

According to Zacks, “resTORbio, Inc. is a clinical-stage biopharmaceutical company. It focused on the development and commercialization of therapeutics for the treatment of aging-related diseases. The company’s program consists of rapamycin complex 1 pathway to treat aging-related diseases and conditions. Its lead product candidate, RTB101 is an orally administered, small molecule, potent TORC1 inhibitor which is in clinical stage. resTORbio, Inc. is based in BOSTON, United States. “

A number of other research analysts also recently issued reports on TORC. Guggenheim assumed coverage on resTORbio in a research note on Tuesday, June 4th. They set a buy rating and a $28.00 price target on the stock. Svb Leerink restated an outperform rating on shares of resTORbio in a research note on Monday, March 25th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. resTORbio has an average rating of Buy and an average target price of $19.50.

TORC opened at $10.01 on Thursday. resTORbio has a one year low of $6.21 and a one year high of $20.59. The firm has a 50-day simple moving average of $9.48.

resTORbio (NASDAQ:TORC) last released its quarterly earnings results on Wednesday, May 15th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.02). As a group, sell-side analysts forecast that resTORbio will post -1.84 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in shares of resTORbio by 70.7% in the 4th quarter. BlackRock Inc. now owns 802,683 shares of the company’s stock worth $6,920,000 after buying an additional 332,423 shares during the period. Bank of New York Mellon Corp grew its position in shares of resTORbio by 9.9% in the 4th quarter. Bank of New York Mellon Corp now owns 27,788 shares of the company’s stock worth $239,000 after buying an additional 2,497 shares during the period. Geode Capital Management LLC grew its position in resTORbio by 21.9% during the 4th quarter. Geode Capital Management LLC now owns 86,442 shares of the company’s stock valued at $745,000 after purchasing an additional 15,514 shares during the last quarter. Bank of America Corp DE grew its position in resTORbio by 6.5% during the 4th quarter. Bank of America Corp DE now owns 46,266 shares of the company’s stock valued at $398,000 after purchasing an additional 2,809 shares during the last quarter. Finally, Segantii Capital Management Ltd grew its position in resTORbio by 28.1% during the 1st quarter. Segantii Capital Management Ltd now owns 950,000 shares of the company’s stock valued at $6,479,000 after purchasing an additional 208,184 shares during the last quarter. Hedge funds and other institutional investors own 52.43% of the company’s stock.

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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