resTORbio (TORC) Stock Rating Lowered by Zacks Investment Research

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resTORbio (NASDAQ:TORC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

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 note on Wednesday, August 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $26.60.

Shares of NASDAQ:TORC opened at $11.35 on Thursday. The stock has a market cap of $424.62 million and a price-to-earnings ratio of -1.35. resTORbio has a 12 month low of $7.55 and a 12 month high of $21.10.

resTORbio (NASDAQ:TORC) last announced its quarterly earnings results on Thursday, August 9th. The company reported ($0.48) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by ($0.06). Sell-side analysts anticipate that resTORbio will post -1.86 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Citadel Advisors LLC purchased a new stake in shares of resTORbio in the first quarter worth about $110,000. Bank of New York Mellon Corp boosted its position in shares of resTORbio by 76.7% in the second quarter. Bank of New York Mellon Corp now owns 21,693 shares of the company’s stock worth $199,000 after buying an additional 9,413 shares during the period. Wedbush Securities Inc. purchased a new stake in shares of resTORbio in the second quarter worth about $236,000. Bank Hapoalim BM purchased a new stake in shares of resTORbio in the second quarter worth about $269,000. Finally, Schwab Charles Investment Management Inc. purchased a new stake in shares of resTORbio in the first quarter worth about $270,000. 42.33% of the stock is owned by institutional investors.

About resTORbio

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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