Segantii Capital Management Ltd raised its holdings in resTORbio, Inc. (NASDAQ:TORC) by 5.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 752,010 shares of the company’s stock after purchasing an additional 37,877 shares during the quarter. resTORbio accounts for about 0.9% of Segantii Capital Management Ltd’s holdings, making the stock its 20th biggest position. Segantii Capital Management Ltd’s holdings in resTORbio were worth $6,648,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in TORC. Parametric Portfolio Associates LLC purchased a new stake in shares of resTORbio during the 2nd quarter worth approximately $146,000. Rhumbline Advisers boosted its stake in shares of resTORbio by 12.4% during the 3rd quarter. Rhumbline Advisers now owns 19,503 shares of the company’s stock worth $172,000 after acquiring an additional 2,159 shares in the last quarter. Marshall Wace North America L.P. boosted its stake in shares of resTORbio by 1,292.1% during the 1st quarter. Marshall Wace North America L.P. now owns 31,085 shares of the company’s stock worth $212,000 after acquiring an additional 28,852 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of resTORbio by 54.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 45,404 shares of the company’s stock worth $464,000 after acquiring an additional 16,007 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of resTORbio by 38.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 91,742 shares of the company’s stock worth $936,000 after acquiring an additional 25,637 shares in the last quarter. 51.05% of the stock is currently owned by institutional investors.
Shares of NASDAQ:TORC traded down $0.23 during trading on Thursday, hitting $6.81. 9,891 shares of the stock were exchanged, compared to its average volume of 121,638. resTORbio, Inc. has a 12-month low of $6.21 and a 12-month high of $14.05. The company has a fifty day moving average price of $8.63 and a two-hundred day moving average price of $8.89. The company has a market cap of $257.16 million, a PE ratio of -4.84 and a beta of 3.25.
Several brokerages have recently commented on TORC. Zacks Investment Research lowered resTORbio from a “hold” rating to a “sell” rating in a research note on Tuesday, August 20th. ValuEngine raised resTORbio from a “hold” rating to a “buy” rating in a research note on Thursday, September 12th. Finally, Cantor Fitzgerald began coverage on resTORbio in a research note on Monday, September 9th. They set an “overweight” rating and a $23.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $20.67.
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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