Short Interest in Alto Neuroscience, Inc. (NYSE:ANRO) Expands By 6.9%

Alto Neuroscience, Inc. (NYSE:ANRO) was the target of a large increase in short interest in September. As of September 15th, there was short interest totalling 3,270,000 shares, an increase of 6.9% from the August 31st total of 3,060,000 shares. Based on an average trading volume of 279,600 shares, the days-to-cover ratio is currently 11.7 days. Currently, 14.7% of the company’s shares are short sold.

Alto Neuroscience Stock Performance

Shares of ANRO traded down $0.68 during mid-day trading on Monday, reaching $11.42. The company had a trading volume of 317,019 shares, compared to its average volume of 220,683. The company has a debt-to-equity ratio of 0.04, a quick ratio of 19.85 and a current ratio of 19.85. The firm has a 50-day moving average price of $11.94 and a 200 day moving average price of $12.87. Alto Neuroscience has a 52 week low of $7.91 and a 52 week high of $24.00.

Alto Neuroscience (NYSE:ANRO) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.67) by $0.07. Equities research analysts forecast that Alto Neuroscience will post -2.63 EPS for the current fiscal year.

Insider Activity at Alto Neuroscience

In other news, insider Adam Savitz purchased 12,069 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were bought at an average price of $12.60 per share, with a total value of $152,069.40. Following the completion of the transaction, the insider now directly owns 36,920 shares in the company, valued at approximately $465,192. The purchase was disclosed in a filing with the SEC, which is available through this link.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Rhumbline Advisers purchased a new stake in shares of Alto Neuroscience in the second quarter worth approximately $113,000. Federated Hermes Inc. increased its stake in Alto Neuroscience by 33.3% in the second quarter. Federated Hermes Inc. now owns 12,000 shares of the company’s stock worth $128,000 after purchasing an additional 3,000 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Alto Neuroscience during the second quarter worth $252,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of Alto Neuroscience during the first quarter valued at $340,000. Finally, Bowie Capital Management LLC bought a new position in shares of Alto Neuroscience in the second quarter worth about $462,000.

Analyst Ratings Changes

A number of analysts have recently issued reports on ANRO shares. Wedbush reiterated an “outperform” rating and issued a $29.00 price objective on shares of Alto Neuroscience in a report on Tuesday, September 10th. William Blair reaffirmed an “outperform” rating on shares of Alto Neuroscience in a research report on Tuesday, September 10th. Finally, Rodman & Renshaw began coverage on shares of Alto Neuroscience in a report on Friday, June 21st. They issued a “buy” rating and a $43.00 price objective for the company. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $33.80.

About Alto Neuroscience

Alto Neuroscience, Inc operates as a clinical-stage biopharmaceutical company in the United States. Its product pipeline comprising ALTO-100, which is in phase 2b clinical trial for the treatment of patients with major depressive disorder (MDD); and which is in phase 2a clinical trial for the treatment of post-traumatic stress disorder.