resTORbio (NASDAQ:TORC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.
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. “
Separately, Evercore ISI restated an “in-line” rating on shares of resTORbio in a research report on Wednesday, August 1st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $26.60.
resTORbio (NASDAQ:TORC) last announced its quarterly earnings data on Thursday, August 9th. The company reported ($0.48) EPS for the quarter, missing the consensus estimate of ($0.42) by ($0.06). Analysts expect that resTORbio will post -2.01 EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the company. Citadel Advisors LLC acquired a new position in shares of resTORbio in the 1st quarter valued at about $110,000. Bank of New York Mellon Corp lifted its holdings in resTORbio by 76.7% in the second quarter. Bank of New York Mellon Corp now owns 21,693 shares of the company’s stock valued at $199,000 after acquiring an additional 9,413 shares during the period. Wedbush Securities Inc. acquired a new position in resTORbio in the second quarter valued at approximately $236,000. Bank Hapoalim BM acquired a new position in resTORbio in the second quarter valued at approximately $269,000. Finally, Schwab Charles Investment Management Inc. acquired a new position in resTORbio in the first quarter valued at approximately $270,000. 42.33% of the stock is owned by institutional investors and hedge funds.
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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