resTORbio (NASDAQ:TORC) Shares Up 6.9%

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Shares of resTORbio, Inc. (NASDAQ:TORC) shot up 6.9% on Wednesday . The company traded as high as $10.99 and last traded at $10.80, 140,034 shares traded hands during mid-day trading. A decline of 4% from the average session volume of 145,559 shares. The stock had previously closed at $10.10.

A number of brokerages have recently weighed in on TORC. Guggenheim began coverage on resTORbio in a research report on Tuesday, June 4th. They issued a “buy” rating and a $28.00 price objective on the stock. Zacks Investment Research lowered resTORbio from a “hold” rating to a “sell” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. resTORbio has an average rating of “Hold” and a consensus target price of $19.50.

The company has a market capitalization of $377.41 million, a P/E ratio of -7.04 and a beta of 3.26. The company has a 50-day moving average of $10.13 and a two-hundred day moving average of $8.61.

resTORbio (NASDAQ:TORC) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.51) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.12). On average, equities analysts predict that resTORbio, Inc. will post -2.1 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TORC. Bank of New York Mellon Corp raised its stake in resTORbio by 9.9% during the fourth quarter. Bank of New York Mellon Corp now owns 27,788 shares of the company’s stock valued at $239,000 after buying an additional 2,497 shares during the last quarter. Bank of America Corp DE raised its stake in resTORbio by 6.5% during the fourth quarter. Bank of America Corp DE now owns 46,266 shares of the company’s stock valued at $398,000 after buying an additional 2,809 shares during the last quarter. Rhumbline Advisers purchased a new position in resTORbio during the first quarter valued at $69,000. Parametric Portfolio Associates LLC purchased a new position in resTORbio during the second quarter valued at $146,000. Finally, Geode Capital Management LLC raised its stake in resTORbio by 21.9% during the fourth quarter. Geode Capital Management LLC now owns 86,442 shares of the company’s stock valued at $745,000 after buying an additional 15,514 shares during the last quarter. Institutional investors own 52.11% of the company’s stock.

About resTORbio (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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