Wedbush Lowers Alto Neuroscience (NYSE:ANRO) to Neutral

Wedbush downgraded shares of Alto Neuroscience (NYSE:ANRO) from an outperform rating to a neutral rating in a report issued on Wednesday, Marketbeat.com reports. The firm currently has $4.00 price target on the stock, down from their prior price target of $29.00.

Several other analysts also recently weighed in on the company. William Blair reiterated an “outperform” rating on shares of Alto Neuroscience in a research report on Tuesday, September 10th. Rodman & Renshaw lowered shares of Alto Neuroscience from a “buy” rating to a “neutral” rating in a report on Wednesday. Finally, Robert W. Baird dropped their target price on shares of Alto Neuroscience from $32.00 to $10.00 and set an “outperform” rating on the stock in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $24.40.

Alto Neuroscience Stock Performance

Shares of NYSE ANRO opened at $4.36 on Wednesday. Alto Neuroscience has a 1 year low of $3.93 and a 1 year high of $24.00. The firm has a 50-day simple moving average of $12.02 and a two-hundred day simple moving average of $12.36. The company has a debt-to-equity ratio of 0.04, a current ratio of 19.85 and a quick ratio of 19.85.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. RA Capital Management L.P. purchased a new stake in shares of Alto Neuroscience in the 1st quarter worth approximately $21,267,000. Price T Rowe Associates Inc. MD bought a new position in Alto Neuroscience in the first quarter worth approximately $9,788,000. Vanguard Group Inc. purchased a new stake in Alto Neuroscience during the first quarter worth $8,233,000. Jennison Associates LLC bought a new stake in Alto Neuroscience during the 1st quarter valued at $7,039,000. Finally, Artal Group S.A. purchased a new position in shares of Alto Neuroscience in the 1st quarter valued at $5,372,000.

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.