resTORbio (NASDAQ:TORC) Hits New 1-Year High at $16.09

Shares of resTORbio, Inc. (NASDAQ:TORC) reached a new 52-week high on Wednesday . The company traded as high as $16.09 and last traded at $15.40, with a volume of 101715 shares trading hands. The stock had previously closed at $15.96.

A number of research analysts recently weighed in on the company. FIG Partners reaffirmed a “reduce” rating on shares of resTORbio in a report on Thursday, May 28th. Zacks Investment Research raised resTORbio from a “hold” rating to a “buy” rating and set a $2.50 target price on the stock in a report on Thursday, June 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $3.17.

The stock has a 50 day moving average price of $2.27 and a two-hundred day moving average price of $1.86. The company has a market cap of $561.39 million, a price-to-earnings ratio of -1.26 and a beta of 2.43.

resTORbio (NASDAQ:TORC) last released its earnings results on Thursday, July 30th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.07. Research analysts predict that resTORbio, Inc. will post -0.82 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of the company. Wells Fargo & Company MN increased its position in shares of resTORbio by 371.8% during the first quarter. Wells Fargo & Company MN now owns 36,820 shares of the company’s stock worth $38,000 after acquiring an additional 29,016 shares in the last quarter. Strategic Wealth Designers bought a new stake in resTORbio in the 2nd quarter worth $58,000. Virtu Financial LLC bought a new stake in resTORbio in the 2nd quarter worth $64,000. Bank of New York Mellon Corp lifted its position in shares of resTORbio by 55.7% in the 1st quarter. Bank of New York Mellon Corp now owns 80,271 shares of the company’s stock worth $83,000 after purchasing an additional 28,710 shares during the period. Finally, Jane Street Group LLC purchased a new position in resTORbio during the 2nd quarter valued at about $110,000. Institutional investors own 46.19% of the company’s stock.

resTORbio Company Profile (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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