resTORbio, Inc. Expected to Post FY2023 Earnings of ($0.05) Per Share (TORC)

resTORbio, Inc. (NASDAQ:TORC) – Stock analysts at Wedbush issued their FY2023 earnings per share (EPS) estimates for resTORbio in a research note issued on Monday, March 18th. Wedbush analyst R. Driscoll anticipates that the company will post earnings per share of ($0.05) for the year. Wedbush currently has a “Outperform” rating on the stock.

resTORbio (NASDAQ:TORC) last issued its quarterly earnings data on Monday, March 18th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.13.

A number of other research analysts have also issued reports on TORC. ValuEngine lowered shares of resTORbio from a “buy” rating to a “hold” rating in a report on Friday, December 21st. Zacks Investment Research lowered shares of resTORbio from a “buy” rating to a “hold” rating in a report on Thursday, February 21st.

Shares of NASDAQ TORC opened at $6.33 on Wednesday. The company has a market capitalization of $253.90 million, a P/E ratio of -4.46 and a beta of 3.12. resTORbio has a 1 year low of $6.21 and a 1 year high of $20.59.

A number of hedge funds and other institutional investors have recently modified their holdings of TORC. Jennison Associates LLC increased its position in resTORbio by 95.4% during the 3rd quarter. Jennison Associates LLC now owns 2,154,230 shares of the company’s stock valued at $32,615,000 after purchasing an additional 1,051,944 shares during the period. Baillie Gifford & Co. increased its position in resTORbio by 10.5% during the 3rd quarter. Baillie Gifford & Co. now owns 983,618 shares of the company’s stock valued at $14,892,000 after purchasing an additional 93,402 shares during the period. BlackRock Inc. increased its position in resTORbio by 70.7% during the 4th quarter. BlackRock Inc. now owns 802,683 shares of the company’s stock valued at $6,920,000 after purchasing an additional 332,423 shares during the period. Segantii Capital Management Ltd increased its position in resTORbio by 54.5% during the 4th quarter. Segantii Capital Management Ltd now owns 741,816 shares of the company’s stock valued at $6,394,000 after purchasing an additional 261,630 shares during the period. Finally, Vanguard Group Inc. increased its position in resTORbio by 2.7% during 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 period. 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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