Marshall Wace North America L.P. boosted its holdings in resTORbio, Inc. (NASDAQ:TORC) by 1,292.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,085 shares of the company’s stock after purchasing an additional 28,852 shares during the quarter. Marshall Wace North America L.P. owned approximately 0.09% of resTORbio worth $212,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Rhumbline Advisers bought a new stake in shares of resTORbio during the first quarter valued at about $69,000. Bank of New York Mellon Corp raised its stake in shares of resTORbio by 9.9% during the fourth 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 in the last quarter. Bank of America Corp DE raised its stake in shares of resTORbio by 6.5% during the fourth 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 in the last quarter. Geode Capital Management LLC raised its stake in shares of resTORbio by 21.9% during the fourth 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 in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of resTORbio by 2.7% during the third 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 in the last quarter. 52.43% of the stock is owned by institutional investors.
NASDAQ TORC traded down $0.36 on Friday, hitting $10.01. 182,742 shares of the company were exchanged, compared to its average volume of 176,582. The company’s 50 day moving average price is $9.48. The company has a market cap of $357.76 million, a price-to-earnings ratio of -7.05 and a beta of 3.26. resTORbio, Inc. has a twelve month low of $6.21 and a twelve month high of $20.59.
A number of equities research analysts recently weighed in on TORC shares. Guggenheim started coverage on shares of resTORbio in a research note on Tuesday, June 4th. They set a “buy” rating and a $28.00 price objective on the stock. Zacks Investment Research cut shares of Hallmark Financial Services from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Svb Leerink reiterated an “outperform” rating on shares of resTORbio in a research report on Monday, March 25th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. resTORbio has an average rating of “Buy” and a consensus price target of $19.50.
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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