Research Analysts Offer Predictions for Alto Neuroscience, Inc.’s Q3 2024 Earnings (NYSE:ANRO)

Alto Neuroscience, Inc. (NYSE:ANRO) – Analysts at Wedbush issued their Q3 2024 EPS estimates for shares of Alto Neuroscience in a research report issued to clients and investors on Tuesday, September 3rd. Wedbush analyst L. Chico forecasts that the company will post earnings of ($0.61) per share for the quarter. Wedbush currently has a “Outperform” rating and a $29.00 price target on the stock. The consensus estimate for Alto Neuroscience’s current full-year earnings is ($2.64) per share. Wedbush also issued estimates for Alto Neuroscience’s Q4 2024 earnings at ($0.65) EPS, FY2024 earnings at ($2.58) EPS, Q1 2025 earnings at ($0.53) EPS, Q2 2025 earnings at ($0.55) EPS, Q3 2025 earnings at ($0.56) EPS, Q4 2025 earnings at ($0.57) EPS, FY2025 earnings at ($2.21) EPS, FY2026 earnings at ($2.02) EPS, FY2027 earnings at ($2.26) EPS and FY2028 earnings at ($2.56) EPS.

A number of other equities analysts have also commented on the stock. William Blair restated an “outperform” rating on shares of Alto Neuroscience in a research report on Wednesday, June 12th. Rodman & Renshaw began coverage on Alto Neuroscience in a research report on Friday, June 21st. They issued a “buy” rating and a $43.00 price objective on the stock. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alto Neuroscience presently has a consensus rating of “Buy” and a consensus price target of $33.80.

Alto Neuroscience Price Performance

NYSE:ANRO opened at $13.15 on Thursday. The business’s fifty day moving average is $11.99 and its 200 day moving average is $13.04. The company has a current ratio of 19.85, a quick ratio of 19.85 and a debt-to-equity ratio of 0.04. Alto Neuroscience has a 52-week low of $7.91 and a 52-week high of $24.00.

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

Insider Activity at Alto Neuroscience

In other news, insider Adam Savitz bought 12,069 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were bought at an average cost of $12.60 per share, with a total value of $152,069.40. Following the completion of the purchase, the insider now directly owns 36,920 shares in the company, valued at $465,192. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Institutional Trading of Alto Neuroscience

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Federated Hermes Inc. raised its stake in 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 buying an additional 3,000 shares in the last quarter. Bowie Capital Management LLC bought a new position in shares of Alto Neuroscience in the 2nd quarter worth approximately $462,000. TD Asset Management Inc bought a new position in shares of Alto Neuroscience in the 2nd quarter worth approximately $928,000. Rhumbline Advisers purchased a new position in shares of Alto Neuroscience in the 2nd quarter valued at approximately $113,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Alto Neuroscience during the second quarter valued at approximately $252,000.

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.