Alto Neuroscience, Inc. (NYSE:ANRO) Receives $24.40 Average PT from Brokerages

Alto Neuroscience, Inc. (NYSE:ANRO) has earned an average rating of “Moderate Buy” from the eight analysts that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $24.40.

ANRO has been the topic of a number of recent analyst reports. William Blair reissued an “outperform” rating on shares of Alto Neuroscience in a research report on Tuesday, September 10th. Robert W. Baird lowered their target price on shares of Alto Neuroscience from $32.00 to $10.00 and set an “outperform” rating for the company in a report on Wednesday. RODMAN&RENSHAW lowered Alto Neuroscience from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Wedbush downgraded Alto Neuroscience from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $29.00 to $4.00 in a report on Wednesday. Finally, Rodman & Renshaw cut shares of Alto Neuroscience from a “buy” rating to a “neutral” rating in a research note on Wednesday.

Alto Neuroscience Trading Up 5.8 %

NYSE ANRO opened at $4.37 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 19.85 and a quick ratio of 19.85. The firm has a 50 day simple moving average of $12.02 and a 200-day simple moving average of $12.36. Alto Neuroscience has a one year low of $3.93 and a one year high of $24.00.

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

Hedge Funds Weigh In On Alto Neuroscience

Several hedge funds have recently bought and sold shares of the company. Federated Hermes Inc. lifted its stake in shares of Alto Neuroscience by 33.3% during the second quarter. Federated Hermes Inc. now owns 12,000 shares of the company’s stock valued at $128,000 after buying an additional 3,000 shares during the period. Rhumbline Advisers purchased a new position in Alto Neuroscience during the second quarter worth about $113,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in Alto Neuroscience in the 1st quarter worth about $340,000. Bank of New York Mellon Corp purchased a new position in Alto Neuroscience during the second quarter worth approximately $252,000. Finally, Bowie Capital Management LLC acquired a new stake in shares of Alto Neuroscience during the 2nd 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.