resTORbio (NASDAQ:TORC) was downgraded by equities research analysts at Wedbush from an “outperform” rating to a “neutral” rating in a research report issued on Friday, The Fly reports.
A number of other analysts also recently issued reports on TORC. Zacks Investment Research downgraded resTORbio from a “hold” rating to a “sell” rating in a research report on Saturday, November 9th. Guggenheim cut resTORbio from a “buy” rating to a “neutral” rating in a report on Friday. Cantor Fitzgerald cut resTORbio from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $23.00 to $3.00 in a report on Friday. Finally, ValuEngine raised resTORbio from a “hold” rating to a “buy” rating in a report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $14.00.
Shares of resTORbio stock traded down $6.86 during trading hours on Friday, hitting $1.09. 26,289,900 shares of the company’s stock traded hands, compared to its average volume of 267,807. The stock has a market capitalization of $306.49 million, a price-to-earnings ratio of -0.77 and a beta of 3.15. The company has a fifty day simple moving average of $7.59 and a 200-day simple moving average of $8.92. resTORbio has a 12-month low of $0.94 and a 12-month high of $14.05.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Brave Asset Management Inc. purchased a new position in shares of resTORbio during the 3rd quarter valued at about $135,000. Segantii Capital Management Ltd raised its holdings in shares of resTORbio by 5.3% during the 3rd quarter. Segantii Capital Management Ltd now owns 752,010 shares of the company’s stock valued at $6,648,000 after buying an additional 37,877 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of resTORbio by 12.4% during the 3rd quarter. Rhumbline Advisers now owns 19,503 shares of the company’s stock valued at $172,000 after buying an additional 2,159 shares in the last quarter. Invesco Ltd. purchased a new position in shares of resTORbio during the 2nd quarter valued at about $44,052,000. Finally, Vanguard Group Inc. raised its holdings in shares of resTORbio by 25.7% during the 2nd quarter. Vanguard Group Inc. now owns 682,237 shares of the company’s stock valued at $6,959,000 after buying an additional 139,602 shares in the last quarter. 50.99% of the stock is currently owned by institutional investors.
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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