Brokerages Set Alto Neuroscience, Inc. (NYSE:ANRO) Target Price at $20.00

Shares of Alto Neuroscience, Inc. (NYSE:ANRO) have been assigned a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $20.00.

A number of brokerages recently commented on ANRO. Rodman & Renshaw downgraded shares of Alto Neuroscience from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus decreased their price target on Alto Neuroscience from $32.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Robert W. Baird dropped their target price on shares of Alto Neuroscience from $32.00 to $10.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. William Blair reissued an “outperform” rating on shares of Alto Neuroscience in a research note on Tuesday, September 10th. Finally, Wedbush lowered Alto Neuroscience from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $29.00 to $4.00 in a report on Wednesday, October 23rd.

Alto Neuroscience Stock Performance

NYSE ANRO opened at $3.83 on Friday. Alto Neuroscience has a 52 week low of $3.61 and a 52 week high of $24.00. The firm has a 50 day moving average of $6.36 and a two-hundred day moving average of $9.97. The company has a current ratio of 13.10, a quick ratio of 13.09 and a debt-to-equity ratio of 0.05.

Alto Neuroscience (NYSE:ANRO) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.62) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.05. Sell-side analysts predict that Alto Neuroscience will post -2.54 earnings per share for the current fiscal year.

Institutional Trading of Alto Neuroscience

A number of institutional investors have recently added to or reduced their stakes in the business. 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 valued at $128,000 after acquiring an additional 3,000 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Alto Neuroscience by 619.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,315 shares of the company’s stock valued at $49,000 after purchasing an additional 3,715 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC lifted its position in shares of Alto Neuroscience by 1.5% during the third quarter. Philadelphia Financial Management of San Francisco LLC now owns 449,952 shares of the company’s stock worth $5,147,000 after purchasing an additional 6,663 shares during the last quarter. Rhumbline Advisers bought a new position in shares of Alto Neuroscience during the second quarter worth about $113,000. Finally, Jane Street Group LLC acquired a new position in Alto Neuroscience in the third quarter worth about $124,000.

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.