Alto Neuroscience (NYSE:ANRO) Downgraded by Wedbush to Neutral

Wedbush downgraded shares of Alto Neuroscience (NYSE:ANRO) from an outperform rating to a neutral rating in a research note released on Wednesday, Marketbeat.com reports. The brokerage currently has $4.00 price target on the stock, down from their prior price target of $29.00.

Other analysts have also recently issued research reports about the stock. Robert W. Baird dropped their target price on shares of Alto Neuroscience from $32.00 to $10.00 and set an “outperform” rating on the stock in a report on Wednesday. Rodman & Renshaw cut shares of Alto Neuroscience from a “buy” rating to a “neutral” rating in a research report on Wednesday. Finally, William Blair restated an “outperform” rating on shares of Alto Neuroscience in a report on Tuesday, September 10th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.40.

Alto Neuroscience Price Performance

Alto Neuroscience stock opened at $4.37 on Wednesday. Alto Neuroscience has a fifty-two week low of $3.93 and a fifty-two week high of $24.00. The stock’s 50 day simple moving average is $12.02 and its two-hundred day simple moving average is $12.36. The company has a quick ratio of 19.85, a current ratio of 19.85 and a debt-to-equity ratio of 0.04.

Alto Neuroscience (NYSE:ANRO) last released 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 analysts forecast that Alto Neuroscience will post -2.63 earnings per share for the current year.

Hedge Funds Weigh In On Alto Neuroscience

Large investors have recently modified their holdings of the stock. Rhumbline Advisers purchased a new stake in Alto Neuroscience during the 2nd quarter valued at about $113,000. Federated Hermes Inc. raised its holdings in Alto Neuroscience by 33.3% in the second quarter. Federated Hermes Inc. now owns 12,000 shares of the company’s stock worth $128,000 after buying an additional 3,000 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Alto Neuroscience in the second quarter worth approximately $252,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of Alto Neuroscience during the first quarter valued at approximately $340,000. Finally, Bowie Capital Management LLC bought a new stake in shares of Alto Neuroscience during the second quarter valued at 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.