Alto Neuroscience (NYSE:ANRO) Cut to Neutral at Rodman & Renshaw

Rodman & Renshaw cut shares of Alto Neuroscience (NYSE:ANRO) from a buy rating to a neutral rating in a research report released on Wednesday, Marketbeat Ratings reports.

A number of other research analysts also recently issued reports on ANRO. William Blair reiterated an “outperform” rating on shares of Alto Neuroscience in a report on Tuesday, September 10th. Wedbush reaffirmed an “outperform” rating and set a $29.00 price target on shares of Alto Neuroscience in a research note on Tuesday, September 10th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.40.

Alto Neuroscience Price Performance

Shares of ANRO stock opened at $4.36 on Wednesday. Alto Neuroscience has a 52 week low of $3.93 and a 52 week high of $24.00. 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 $12.02 and its two-hundred day moving average price is $12.36.

Alto Neuroscience (NYSE:ANRO) last posted its quarterly earnings data 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 earnings per share for the current year.

Institutional Investors Weigh In On Alto Neuroscience

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Federated Hermes Inc. grew its position in shares of Alto Neuroscience by 33.3% in the 2nd quarter. Federated Hermes Inc. now owns 12,000 shares of the company’s stock valued at $128,000 after acquiring an additional 3,000 shares during the period. Bowie Capital Management LLC bought a new position in Alto Neuroscience during the second quarter worth about $462,000. TD Asset Management Inc acquired a new position in Alto Neuroscience during the second quarter worth approximately $928,000. Rhumbline Advisers bought a new stake in Alto Neuroscience in the second quarter valued at approximately $113,000. Finally, Bank of New York Mellon Corp bought a new stake in Alto Neuroscience in the second quarter valued at approximately $252,000.

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.