Wedbush Reiterates Outperform Rating for resTORbio (TORC)

resTORbio (NASDAQ:TORC)‘s stock had its “outperform” rating restated by research analysts at Wedbush in a research report issued on Monday. Wedbush also issued estimates for resTORbio’s FY2023 earnings at ($0.05) EPS.

A number of other analysts have also recently weighed in on the stock. ValuEngine cut shares of resTORbio from a “buy” rating to a “hold” rating in a report on Friday, December 21st. Zacks Investment Research cut shares of resTORbio from a “buy” rating to a “hold” rating in a report on Thursday, February 21st.

Shares of resTORbio stock opened at $6.98 on Monday. resTORbio has a 1 year low of $6.70 and a 1 year high of $20.59. The stock has a market cap of $253.90 million, a price-to-earnings ratio of -4.92 and a beta of 3.12.

resTORbio (NASDAQ:TORC) last issued its earnings results on Monday, March 18th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.34) by $0.13. On average, equities analysts anticipate that resTORbio will post -2.19 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in shares of resTORbio by 9.9% in the 4th quarter. Bank of New York Mellon Corp now owns 27,788 shares of the company’s stock valued at $239,000 after purchasing an additional 2,497 shares during the last quarter. Bank of America Corp DE raised its position in shares of resTORbio by 6.5% in the 4th quarter. Bank of America Corp DE now owns 46,266 shares of the company’s stock valued at $398,000 after purchasing an additional 2,809 shares during the last quarter. Schroder Investment Management Group purchased a new position in shares of resTORbio in the 3rd quarter valued at approximately $1,216,000. Geode Capital Management LLC raised its position in shares of resTORbio by 21.9% in the 4th quarter. Geode Capital Management LLC now owns 86,442 shares of the company’s stock valued at $745,000 after purchasing an additional 15,514 shares during the last quarter. Finally, Vanguard Group Inc raised its position in shares of resTORbio by 2.7% in the 3rd quarter. Vanguard Group Inc now owns 288,490 shares of the company’s stock valued at $4,368,000 after purchasing an additional 7,545 shares during the last quarter. Institutional investors and hedge funds own 41.72% of the company’s stock.

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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