Penny Stocks To Watch #5: ResTORbio Inc.
Finally, ResTORbio Inc. (TORC Stock Report) comes onto the penny stocks to watch list right now. TORC stock opened the quarter on April 1 at $1.03. It has since climbed to highs of $2.49 on May 28. That 140%+ move didn’t come quietly. While it has been a very consistent upward trend, ResTORbio has made sure to keep the public updated.
This week, ResTORbio made its latest announcement. The company announced the initiation of a randomized, double-blind, placebo-controlled trial of RTB101. The TRB101 is an investigational orally-administered small-molecule inhibitor of target of rapamycin complex 1 (TORC1). It will be compared to a placebo for COVID-19 prophylaxis in nursing home residents. The study is supported by additional data observed in resTORbio Phase 2b and Phase 3 clinical trials. These suggest the potential of RTB101 to reduce the severity of laboratory-confirmed coronavirus infections according to the company.
TORC stock has also attracted the institutional community as well. Earlier in May it was revealed in a 13D filing dated May 8 of a new stake. This was purchased by Adicet Bio, Inc. which reported a beneficial ownership stake of 9,136,678 shares or about 25.07% in resTORbio Inc. Will the latest news and insider activity point to more momentum for this penny stock or has TORC reached its peak?
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