resTORbio, Inc. (NASDAQ:TORC) shares shot up 9.7% during mid-day trading on Thursday following a stronger than expected earnings report. The stock traded as high as $2.78 and last traded at $2.72, 1,172,892 shares changed hands during mid-day trading. A decline of 11% from the average session volume of 1,317,125 shares. The stock had previously closed at $2.48.

The company reported ($0.15) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.07.

Several research analysts have recently weighed in on the company. Evercore ISI raised resTORbio from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $2.00 to $4.00 in a research note on Wednesday, April 29th. Zacks Investment Research upgraded shares of resTORbio from a “hold” rating to a “buy” rating and set a $2.50 price objective for the company in a research report on Thursday, June 18th. Finally, FIG Partners reiterated a “reduce” rating on shares of resTORbio in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. resTORbio presently has an average rating of “Hold” and an average target price of $3.17.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its holdings in resTORbio by 46.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 26,432 shares of the company’s stock valued at $39,000 after acquiring an additional 8,380 shares during the last quarter. Geode Capital Management LLC boosted its holdings in resTORbio by 4.3% in the first quarter. Geode Capital Management LLC now owns 347,941 shares of the company’s stock valued at $358,000 after purchasing an additional 14,404 shares during the period. Strategic Wealth Designers acquired a new position in resTORbio during the 2nd quarter worth $58,000. Bank of New York Mellon Corp increased its holdings in resTORbio by 55.7% during 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, Wells Fargo & Company MN raised its position in resTORbio by 371.8% in the 1st quarter. Wells Fargo & Company MN now owns 36,820 shares of the company’s stock valued at $38,000 after purchasing an additional 29,016 shares in the last quarter. 36.27% of the stock is owned by institutional investors.

The firm has a 50 day moving average price of $2.34 and a 200-day moving average price of $1.69. The firm has a market cap of $90.76 million, a PE ratio of -1.38 and a beta of 2.59.

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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