Guggenheim downgraded shares of resTORbio (NASDAQ:TORC) from a buy rating to a neutral rating in a research report sent to investors on Friday, The Fly reports.
A number of other brokerages have also recently commented on TORC. Cantor Fitzgerald cut resTORbio from an overweight rating to a neutral rating and decreased their price target for the stock from $23.00 to $3.00 in a research note on Friday. Zacks Investment Research cut resTORbio from a hold rating to a sell rating in a research note on Saturday, November 9th. Finally, ValuEngine raised resTORbio from a hold rating to a buy rating in a research note 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 company. resTORbio currently has an average rating of Hold and a consensus target price of $14.00.
NASDAQ TORC traded down $6.86 during trading hours on Friday, hitting $1.09. The company had a trading volume of 26,289,900 shares, compared to its average volume of 267,807. The firm has a 50 day simple moving average of $7.59 and a 200 day simple moving average of $8.92. The firm has a market capitalization of $306.49 million, a price-to-earnings ratio of -0.77 and a beta of 3.15. resTORbio has a 52 week low of $0.94 and a 52 week high of $14.05.
Institutional investors and hedge funds have recently bought and sold shares of the company. Parametric Portfolio Associates LLC purchased a new position in shares of resTORbio during the second quarter valued at approximately $146,000. Brave Asset Management Inc. purchased a new position in shares of resTORbio during the third quarter valued at approximately $135,000. Rhumbline Advisers increased its stake in shares of resTORbio by 12.4% during the third quarter. Rhumbline Advisers now owns 19,503 shares of the company’s stock valued at $172,000 after buying an additional 2,159 shares during the period. Bank of New York Mellon Corp increased its stake in shares of resTORbio by 54.5% during the second quarter. Bank of New York Mellon Corp now owns 45,404 shares of the company’s stock valued at $464,000 after buying an additional 16,007 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of resTORbio by 38.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 91,742 shares of the company’s stock valued at $936,000 after buying an additional 25,637 shares during the period. 50.99% of the stock is currently owned by hedge funds and other institutional investors.
resTORbio Company Profile
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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