Alto Neuroscience (NYSE:ANRO) Given Outperform Rating at Wedbush

Wedbush reiterated their outperform rating on shares of Alto Neuroscience (NYSE:ANRO) in a research report sent to investors on Tuesday morning, Benzinga reports. Wedbush currently has a $29.00 price target on the stock.

A number of other equities research analysts have also weighed in on ANRO. William Blair reaffirmed an outperform rating on shares of Alto Neuroscience in a report on Wednesday, June 12th. Rodman & Renshaw began coverage on Alto Neuroscience in a report on Friday, June 21st. They issued a buy rating and a $43.00 price target for the company. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of Buy and an average price target of $33.80.

Alto Neuroscience Stock Performance

Alto Neuroscience stock opened at $13.46 on Tuesday. 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 business has a 50 day simple moving average of $12.09 and a 200-day simple moving average of $13.04. Alto Neuroscience has a 12 month low of $7.91 and a 12 month high of $24.00.

Alto Neuroscience (NYSE:ANRO) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.07. Equities research analysts anticipate that Alto Neuroscience will post -2.63 EPS for the current year.

Insider Activity

In related news, insider Adam Savitz acquired 12,069 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The stock was purchased at an average price of $12.60 per share, for a total transaction of $152,069.40. Following the transaction, the insider now owns 36,920 shares in the company, valued at approximately $465,192. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Investors Weigh In On Alto Neuroscience

Hedge funds and other institutional investors have recently modified their holdings 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 shares of Alto Neuroscience during the 2nd quarter worth $113,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of Alto Neuroscience during the first quarter worth $340,000. Bank of New York Mellon Corp purchased a new stake in shares of Alto Neuroscience in the second quarter valued at $252,000. Finally, Bowie Capital Management LLC purchased a new stake in shares of Alto Neuroscience in the second quarter valued at $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.