William Blair Reiterates “Outperform” Rating for Alto Neuroscience (NYSE:ANRO)

Alto Neuroscience (NYSE:ANRO)‘s stock had its “outperform” rating restated by equities researchers at William Blair in a research note issued on Tuesday, RTT News reports.

Several other brokerages also recently issued reports on ANRO. Rodman & Renshaw started coverage on Alto Neuroscience in a research report on Friday, June 21st. They issued a “buy” rating and a $43.00 price objective for the company. Wedbush reiterated an “outperform” rating and issued a $29.00 price objective on shares of Alto Neuroscience in a research report on Tuesday. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $33.80.

Alto Neuroscience Trading Down 0.4 %

Shares of NYSE:ANRO opened at $13.41 on Tuesday. Alto Neuroscience has a 1-year low of $7.91 and a 1-year high of $24.00. The business’s 50 day moving average is $12.13 and its 200-day moving average is $13.04. The company has a debt-to-equity ratio of 0.04, a current ratio of 19.85 and a quick ratio of 19.85.

Alto Neuroscience (NYSE:ANRO) last posted 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, sell-side analysts expect that Alto Neuroscience will post -2.63 EPS for the current fiscal year.

Insider Transactions at Alto Neuroscience

In related news, insider Adam Savitz acquired 12,069 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The stock was acquired 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 filing with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ANRO. Rhumbline Advisers acquired a new position in Alto Neuroscience in the second quarter valued at about $113,000. Federated Hermes Inc. raised its holdings in Alto Neuroscience by 33.3% during 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 in the last quarter. Bank of New York Mellon Corp bought a new stake in Alto Neuroscience during the second quarter worth about $252,000. University of Texas Texas AM Investment Managment Co. bought a new stake in Alto Neuroscience during the first quarter worth about $340,000. Finally, Bowie Capital Management LLC bought a new position in shares of Alto Neuroscience during the 2nd quarter worth approximately $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.