Alto Neuroscience, Inc. (NYSE:ANRO) Given Average Rating of “Moderate Buy” by Analysts

Shares of Alto Neuroscience, Inc. (NYSE:ANRO) have received an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $20.00.

A number of equities analysts have issued reports on the company. Stifel Nicolaus lowered their target price on Alto Neuroscience from $32.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Wedbush lowered shares of Alto Neuroscience from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $29.00 to $4.00 in a report on Wednesday, October 23rd. RODMAN&RENSHAW downgraded Alto Neuroscience from a “strong-buy” rating to a “hold” rating in a report 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. Finally, Rodman & Renshaw downgraded shares of Alto Neuroscience from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 23rd.

Alto Neuroscience Stock Performance

ANRO stock opened at $4.39 on Tuesday. The firm has a 50-day moving average price of $4.15 and a 200-day moving average price of $9.17. Alto Neuroscience has a 12 month low of $3.56 and a 12 month high of $24.00. The company has a debt-to-equity ratio of 0.05, a current ratio of 13.10 and a quick ratio of 13.09.

Alto Neuroscience (NYSE:ANRO) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.62) EPS for the quarter, beating the consensus estimate of ($0.67) by $0.05. Research analysts expect that Alto Neuroscience will post -2.54 EPS for the current year.

Hedge Funds Weigh In On Alto Neuroscience

Hedge funds have recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in Alto Neuroscience by 123.7% during the 3rd quarter. State Street Corp now owns 236,857 shares of the company’s stock worth $2,710,000 after acquiring an additional 130,985 shares during the last quarter. Geode Capital Management LLC grew its position in Alto Neuroscience by 148.7% in the 3rd quarter. Geode Capital Management LLC now owns 469,988 shares of the company’s stock worth $5,378,000 after purchasing an additional 281,018 shares in the last quarter. Jennison Associates LLC increased its stake in Alto Neuroscience by 80.3% in the 3rd quarter. Jennison Associates LLC now owns 832,290 shares of the company’s stock valued at $9,521,000 after buying an additional 370,612 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Alto Neuroscience by 95.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,220,712 shares of the company’s stock worth $13,965,000 after buying an additional 595,673 shares in the last quarter. Finally, TD Asset Management Inc bought a new position in shares of Alto Neuroscience in the second quarter valued at approximately $928,000.

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.