Alto Neuroscience, Inc. (NYSE:ANRO) Receives Average Recommendation of “Moderate Buy” from Analysts

Alto Neuroscience, Inc. (NYSE:ANRO) has been given an average rating of “Moderate Buy” by the eight research firms that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $20.00.

ANRO has been the subject of several recent analyst reports. Wedbush lowered shares of Alto Neuroscience from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $29.00 to $4.00 in a research note on Wednesday, October 23rd. Robert W. Baird dropped their price target on shares of Alto Neuroscience from $32.00 to $10.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. William Blair reiterated an “outperform” rating on shares of Alto Neuroscience in a report on Tuesday, September 10th. RODMAN&RENSHAW lowered shares of Alto Neuroscience from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Finally, Stifel Nicolaus dropped their target price on Alto Neuroscience from $32.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th.

Alto Neuroscience Trading Down 1.7 %

Shares of NYSE:ANRO opened at $4.52 on Monday. Alto Neuroscience has a 12 month low of $3.61 and a 12 month high of $24.00. The company has a quick ratio of 19.85, a current ratio of 13.10 and a debt-to-equity ratio of 0.05. The company has a 50-day moving average price of $9.69 and a 200 day moving average price of $11.30.

Alto Neuroscience (NYSE:ANRO) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.62) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.67) by $0.05. As a group, research analysts expect that Alto Neuroscience will post -2.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Alto Neuroscience

A number of institutional investors have recently modified their holdings of the stock. RA Capital Management L.P. purchased a new stake in Alto Neuroscience in the first quarter worth about $21,267,000. Price T Rowe Associates Inc. MD bought a new position in Alto Neuroscience in the first quarter worth approximately $9,788,000. Vanguard Group Inc. purchased a new stake in Alto Neuroscience during the first quarter worth $8,233,000. Jennison Associates LLC boosted its position in Alto Neuroscience by 80.3% during the 3rd quarter. Jennison Associates LLC now owns 832,290 shares of the company’s stock valued at $9,521,000 after acquiring an additional 370,612 shares in the last quarter. Finally, Artal Group S.A. purchased a new position in shares of Alto Neuroscience in the 1st quarter valued at $5,372,000.

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.