resTORbio, Inc. (NASDAQ:TORC) – Investment analysts at Svb Leerink reduced their FY2022 earnings estimates for resTORbio in a research report issued to clients and investors on Wednesday, November 6th. Svb Leerink analyst G. Porges now expects that the company will earn $0.97 per share for the year, down from their prior estimate of $1.01.
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 the Zacks’ consensus estimate of ($0.54) by ($0.14).
Other equities analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of resTORbio from a “hold” rating to a “sell” rating in a research note on Tuesday, August 20th. ValuEngine raised shares of resTORbio from a “hold” rating to a “buy” rating in a research note on Thursday, September 12th. Finally, Cantor Fitzgerald started coverage on shares of resTORbio in a research note on Monday, September 9th. They issued an “overweight” rating and a $23.00 target price on the stock. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. resTORbio presently has an average rating of “Buy” and an average target price of $20.67.
Shares of TORC stock traded up $0.50 during mid-day trading on Friday, reaching $8.70. The company’s stock had a trading volume of 238,200 shares, compared to its average volume of 146,159. The company’s 50 day simple moving average is $7.83 and its 200-day simple moving average is $8.91. resTORbio has a 12-month low of $6.21 and a 12-month high of $14.05. The firm has a market capitalization of $274.20 million, a PE ratio of -6.13 and a beta of 3.15.
Several hedge funds have recently modified their holdings of TORC. FMR LLC purchased a new position in shares of resTORbio in the 1st quarter valued at $2,453,000. Ruffer LLP purchased a new stake in resTORbio during the 2nd quarter worth $1,196,000. Charles Schwab Investment Management Inc. increased its stake in 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 buying an additional 25,637 shares during the period. Bank of New York Mellon Corp increased its stake in 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 buying an additional 16,007 shares during the period. Finally, Northern Trust Corp increased its stake in resTORbio by 36.9% during the 2nd quarter. Northern Trust Corp now owns 108,130 shares of the company’s stock worth $1,103,000 after buying an additional 29,128 shares during the period. 50.98% of the stock is currently owned by institutional investors and hedge funds.
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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