Alto Neuroscience (NYSE:ANRO) Downgraded by Rodman & Renshaw to Neutral

Rodman & Renshaw lowered shares of Alto Neuroscience (NYSE:ANRO) from a buy rating to a neutral rating in a research note released on Wednesday morning, MarketBeat reports.

A number of other equities analysts have also issued reports on ANRO. Wedbush reaffirmed an “outperform” rating and set a $29.00 price target on shares of Alto Neuroscience in a research note on Tuesday, September 10th. William Blair reaffirmed an “outperform” rating on shares of Alto Neuroscience in a research note on Tuesday, September 10th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Alto Neuroscience presently has a consensus rating of “Moderate Buy” and an average target price of $24.40.

Alto Neuroscience Stock Performance

NYSE ANRO opened at $4.37 on Wednesday. The company has a 50-day moving average price of $12.02 and a two-hundred day moving average price of $12.36. Alto Neuroscience has a 52 week low of $3.93 and a 52 week high of $24.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 19.85 and a current ratio of 19.85.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers acquired a new stake in shares of Alto Neuroscience during the 2nd quarter valued at about $113,000. Federated Hermes Inc. raised its position in 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 acquiring an additional 3,000 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Alto Neuroscience in the second quarter valued at approximately $252,000. University of Texas Texas AM Investment Managment Co. bought a new stake in Alto Neuroscience in the first quarter worth approximately $340,000. Finally, Bowie Capital Management LLC acquired a new position in shares of Alto Neuroscience during the 2nd quarter worth $462,000.

Alto Neuroscience Company Profile

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.