Alto Neuroscience, Inc. (NYSE:ANRO) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Alto Neuroscience, Inc. (NYSE:ANRO) have earned an average rating of “Moderate Buy” from the eight ratings firms that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $20.00.

Several research firms recently commented on ANRO. RODMAN&RENSHAW lowered Alto Neuroscience from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Rodman & Renshaw downgraded Alto Neuroscience from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 23rd. William Blair restated an “outperform” rating on shares of Alto Neuroscience in a research report on Tuesday, September 10th. Stifel Nicolaus reduced their target price on shares of Alto Neuroscience from $32.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Finally, Wedbush lowered Alto Neuroscience from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $29.00 to $4.00 in a research note on Wednesday, October 23rd.

Alto Neuroscience Stock Performance

Shares of ANRO opened at $3.81 on Friday. The business’s 50 day moving average is $6.62 and its 200 day moving average is $10.12. The company has a debt-to-equity ratio of 0.05, a current ratio of 13.10 and a quick ratio of 13.09. Alto Neuroscience has a 12-month low of $3.61 and a 12-month high of $24.00.

Alto Neuroscience (NYSE:ANRO) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.62) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.05. Equities research analysts expect that Alto Neuroscience will post -2.54 EPS for the current fiscal year.

Institutional Trading of Alto Neuroscience

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its stake in shares of Alto Neuroscience by 95.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,220,712 shares of the company’s stock worth $13,965,000 after buying an additional 595,673 shares during the period. Vanguard Group Inc. purchased a new position in Alto Neuroscience during the first quarter valued at $8,233,000. Jennison Associates LLC lifted its holdings in Alto Neuroscience by 80.3% during the third quarter. Jennison Associates LLC now owns 832,290 shares of the company’s stock valued at $9,521,000 after purchasing an additional 370,612 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Alto Neuroscience by 148.7% in the 3rd quarter. Geode Capital Management LLC now owns 469,988 shares of the company’s stock worth $5,378,000 after buying an additional 281,018 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Alto Neuroscience by 123.7% during the third quarter. State Street Corp now owns 236,857 shares of the company’s stock valued at $2,710,000 after acquiring an additional 130,985 shares during the last quarter.

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.