resTORbio, Inc. (NASDAQ:TORC) was the recipient of a significant increase in short interest in October. As of October 31st, there was short interest totalling 3,770,000 shares, an increase of 18.9% from the September 30th total of 3,170,000 shares. Approximately 18.2% of the shares of the stock are short sold. Based on an average trading volume of 147,300 shares, the days-to-cover ratio is presently 25.6 days.
Several equities research analysts have commented on TORC shares. Wedbush cut shares of resTORbio from an “outperform” rating to a “neutral” rating in a research report on Friday. Guggenheim downgraded resTORbio from a “buy” rating to a “neutral” rating in a report on Friday. Svb Leerink downgraded resTORbio from an “outperform” rating to a “market perform” rating in a report on Friday. ValuEngine upgraded resTORbio from a “hold” rating to a “buy” rating in a report on Thursday, September 12th. Finally, Cantor Fitzgerald downgraded resTORbio from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $23.00 to $3.00 in a report on Friday. One investment 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 company has a consensus rating of “Hold” and a consensus target price of $14.00.
A number of institutional investors have recently made changes to their positions in TORC. Brave Asset Management Inc. bought a new stake in resTORbio during the third quarter worth approximately $135,000. Parametric Portfolio Associates LLC acquired a new position in shares of resTORbio during the second quarter worth approximately $146,000. Rhumbline Advisers lifted its holdings in shares of resTORbio by 12.4% during the third quarter. Rhumbline Advisers now owns 19,503 shares of the company’s stock worth $172,000 after buying an additional 2,159 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of resTORbio by 54.5% during the second quarter. Bank of New York Mellon Corp now owns 45,404 shares of the company’s stock worth $464,000 after buying an additional 16,007 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of resTORbio by 38.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 91,742 shares of the company’s stock worth $936,000 after buying an additional 25,637 shares during the last quarter. 50.99% of the stock is owned by hedge funds and other institutional investors.
NASDAQ TORC traded down $6.86 on Friday, hitting $1.09. 26,289,900 shares of the company were exchanged, compared to its average volume of 267,807. The firm has a market capitalization of $306.49 million, a P/E ratio of -0.77 and a beta of 3.15. The company’s 50 day moving average price is $7.59 and its 200-day moving average price is $8.92. resTORbio has a twelve month low of $0.94 and a twelve month high of $14.05.
resTORbio (NASDAQ:TORC) last announced its earnings results on Tuesday, November 5th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.14). Equities research analysts expect that resTORbio will post -2.35 earnings per share for the current fiscal year.
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.
Featured Article: How to find the components of the quick ratio
Receive News & Ratings for resTORbio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for resTORbio and related companies with MarketBeat.com's FREE daily email newsletter.