An interesting stock that came up in some of our conversations today is resTORbio, Inc. (NASDAQ:TORC). At current price of $1.19, the shares have already lost -0.06 points (-4.8% lower) from its previous close of $1.25. Should you buy or avoid them? The stock sets an active trading volume day with a reported 495897 contracts so far this session. TORC shares had a relatively better volume day versus average trading capacity of 951.82 thousand shares, but with a 21.37 million float and a 3.31% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for TORC stock indicates that the average analyst price target is $2 per share. This means the stock has a potential increase of 68.07% from where the TORC share price has been trading recently which is between $1.16 and $1.27.
During the recent trading session for resTORbio, Inc. (NASDAQ:TORC), the company witnessed their stock drop by $-0.09 over a week and tumble down $-6.96 from the price 20 days ago. When compared to their established 52-week high of $13.57, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 12/13/18. The recent low of $0.94 stood for a -91.23% since 11/15/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for resTORbio, Inc., the two-week RSI stands at 21.07. This figure suggests that TORC stock, for now, is overbought, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current TORC readings is similarly very revealing as it has a stochastic reading of 3.06% at this stage. This figure means that TORC share price today is being overbought.
Technical chart claims that resTORbio, Inc. (TORC) would settle between $1.29/share to $1.34/share level. However, if the stock price goes below the $1.18 mark, then the market for resTORbio, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $1.12 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.02. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Cantor Fitzgerald, assumed coverage of TORC assigning Overweight rating, according to their opinion released on September 09. Guggenheim, analysts launched coverage of resTORbio, Inc. (NASDAQ:TORC) stock with a Buy recommendation, according to their flash note issued to investors on June 05. Analysts at Evercore ISI lowered the stock to a In-line call from its previous Outperform recommendation, in a research note that dated back to August 01.
TORC equity has an average rating of 1.6, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 5 rated the stock as a hold while the remaining 0 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 0 analysts rated resTORbio, Inc. (NASDAQ:TORC) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.