William Blair Cuts Earnings Estimates for Alto Neuroscience

Alto Neuroscience, Inc. (NYSE:ANRO) – William Blair cut their FY2028 earnings per share estimates for Alto Neuroscience in a report issued on Tuesday, October 22nd. William Blair analyst M. Minter now forecasts that the company will post earnings of ($3.26) per share for the year, down from their prior forecast of ($3.16). William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Alto Neuroscience’s current full-year earnings is ($2.63) per share.

Alto Neuroscience (NYSE:ANRO) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.60) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.07.

ANRO has been the topic of a number of other reports. Rodman & Renshaw downgraded Alto Neuroscience from a “buy” rating to a “neutral” rating in a research note on Wednesday. Wedbush cut Alto Neuroscience from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $29.00 to $4.00 in a report on Wednesday. Robert W. Baird reduced their price objective on Alto Neuroscience from $32.00 to $10.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, RODMAN&RENSHAW cut Alto Neuroscience from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Alto Neuroscience currently has an average rating of “Moderate Buy” and an average target price of $24.40.

Alto Neuroscience Price Performance

Alto Neuroscience stock opened at $4.37 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 19.85 and a current ratio of 19.85. Alto Neuroscience has a 1-year low of $3.93 and a 1-year high of $24.00. The stock’s 50 day moving average price is $12.02 and its 200 day moving average price is $12.36.

Hedge Funds Weigh In On Alto Neuroscience

A number of institutional investors have recently made changes to their positions in the stock. Federated Hermes Inc. raised its holdings in shares of 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 acquiring an additional 3,000 shares during the last quarter. Rhumbline Advisers acquired a new position in shares of Alto Neuroscience in the second quarter worth $113,000. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of Alto Neuroscience in the first quarter worth $340,000. Bank of New York Mellon Corp acquired a new position in shares of Alto Neuroscience in the second quarter worth $252,000. Finally, Bowie Capital Management LLC acquired a new position in shares of Alto Neuroscience in the second quarter worth $462,000.

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.