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

Alto Neuroscience, Inc. (NYSE:ANRO) has been given an average recommendation of “Moderate Buy” by the seven analysts that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $24.40.

A number of research firms have recently commented on ANRO. William Blair reiterated an “outperform” rating on shares of Alto Neuroscience in a research report on Tuesday, September 10th. Rodman & Renshaw lowered Alto Neuroscience from a “buy” rating to a “neutral” rating in a research report on Wednesday. Wedbush cut Alto Neuroscience from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $29.00 to $4.00 in a research note on Wednesday. Finally, Robert W. Baird lowered their target price on shares of Alto Neuroscience from $32.00 to $10.00 and set an “outperform” rating on the stock in a research report on Wednesday.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. lifted its stake in shares of Alto Neuroscience by 33.3% in the 2nd quarter. Federated Hermes Inc. now owns 12,000 shares of the company’s stock worth $128,000 after acquiring an additional 3,000 shares during the period. Bowie Capital Management LLC acquired a new position in shares of Alto Neuroscience during the second quarter worth about $462,000. TD Asset Management Inc purchased a new position in Alto Neuroscience during the second quarter worth about $928,000. Rhumbline Advisers acquired a new stake in Alto Neuroscience in the second quarter valued at about $113,000. Finally, Bank of New York Mellon Corp acquired a new stake in Alto Neuroscience in the second quarter valued at about $252,000.

Alto Neuroscience Trading Down 70.0 %

ANRO stock opened at $4.36 on Thursday. 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 has a twelve month low of $4.26 and a twelve month high of $24.00. The company’s 50 day moving average is $12.22 and its two-hundred day moving average is $12.48.

Alto Neuroscience (NYSE:ANRO) last posted its earnings results on Tuesday, August 13th. The company reported ($0.60) EPS for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.07. As a group, equities research analysts expect that Alto Neuroscience will post -2.63 EPS for the current fiscal year.

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.