Alto Neuroscience (NYSE:ANRO) Stock Price Up 1.6% – Here’s What Happened

Shares of Alto Neuroscience, Inc. (NYSE:ANRO) rose 1.6% on Tuesday . The stock traded as high as $14.70 and last traded at $14.52. Approximately 1,624,103 shares were traded during trading, an increase of 559% from the average daily volume of 246,314 shares. The stock had previously closed at $14.29.

Wall Street Analysts Forecast Growth

ANRO has been the topic of several recent research reports. William Blair reissued an “outperform” rating on shares of Alto Neuroscience in a research report on Tuesday, September 10th. Wedbush reissued an “outperform” rating and set a $29.00 price target on shares of Alto Neuroscience in a research report on Tuesday, September 10th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $33.80.

Alto Neuroscience Stock Performance

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 company’s 50-day moving average price is $12.33 and its 200-day moving average price is $12.54.

Alto Neuroscience (NYSE:ANRO) last released its earnings results on Tuesday, August 13th. The company reported ($0.60) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.07. As a group, analysts predict that Alto Neuroscience, Inc. will post -2.63 EPS for the current year.

Hedge Funds Weigh In On Alto Neuroscience

Hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers purchased a new position in Alto Neuroscience in the second quarter valued at 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 valued at $128,000 after purchasing an additional 3,000 shares during the last quarter. University of Texas Texas AM Investment Managment Co. purchased a new position in Alto Neuroscience in the first quarter valued at approximately $340,000. Bank of New York Mellon Corp purchased a new position in Alto Neuroscience in the second quarter valued at approximately $252,000. Finally, Bowie Capital Management LLC purchased a new position in Alto Neuroscience in the second quarter valued at approximately $462,000.

Alto Neuroscience Company Profile

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.