Brokerages Set Alto Neuroscience, Inc. (NYSE:ANRO) Price Target at $20.00

Alto Neuroscience, Inc. (NYSE:ANRO) has been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $20.00.

A number of brokerages recently weighed in on ANRO. William Blair reiterated an “outperform” rating on shares of Alto Neuroscience in a report on Tuesday, September 10th. Rodman & Renshaw downgraded shares of Alto Neuroscience from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 23rd. Robert W. Baird dropped their price objective on Alto Neuroscience from $32.00 to $10.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. RODMAN&RENSHAW lowered Alto Neuroscience from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, Stifel Nicolaus cut their price objective on Alto Neuroscience from $32.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th.

Alto Neuroscience Price Performance

NYSE ANRO opened at $3.83 on Friday. The stock has a 50 day moving average price of $6.36 and a 200-day moving average price of $9.97. Alto Neuroscience has a one year low of $3.61 and a one year high of $24.00. The company has a current ratio of 13.10, a quick ratio of 13.09 and a debt-to-equity ratio of 0.05.

Alto Neuroscience (NYSE:ANRO) last issued its quarterly earnings data 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. On average, equities analysts forecast that Alto Neuroscience will post -2.54 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Franklin Resources Inc. boosted its holdings in Alto Neuroscience by 95.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,220,712 shares of the company’s stock valued at $13,965,000 after acquiring an additional 595,673 shares during the period. Barclays PLC grew its holdings in shares of Alto Neuroscience by 872.7% in the third quarter. Barclays PLC now owns 29,599 shares of the company’s stock valued at $339,000 after purchasing an additional 26,556 shares in the last quarter. Geode Capital Management LLC increased its stake in Alto Neuroscience by 148.7% during 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 period. Jane Street Group LLC acquired a new stake in Alto Neuroscience during the 3rd quarter worth approximately $124,000. Finally, Wellington Management Group LLP purchased a new stake in shares of Alto Neuroscience during the third quarter worth $694,000.

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.