RODMAN&RENSHAW Downgrades Alto Neuroscience (NYSE:ANRO) to Hold

Alto Neuroscience (NYSE:ANRO) was downgraded by research analysts at RODMAN&RENSHAW from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

Several other brokerages have also issued reports on ANRO. Robert W. Baird cut their price target on Alto Neuroscience from $32.00 to $10.00 and set an “outperform” rating on the stock in a report on Wednesday. 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 research note on Wednesday. William Blair reissued an “outperform” rating on shares of Alto Neuroscience in a research report on Tuesday, September 10th. Finally, Rodman & Renshaw lowered shares of Alto Neuroscience from a “buy” rating to a “neutral” rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Alto Neuroscience presently has an average rating of “Moderate Buy” and an average target price of $24.40.

Alto Neuroscience Price Performance

Shares of ANRO stock opened at $4.36 on Wednesday. Alto Neuroscience has a fifty-two week low of $4.26 and a fifty-two week high of $24.00. The company has a current ratio of 19.85, a quick ratio of 19.85 and a debt-to-equity ratio of 0.04. The stock has a 50 day simple moving average of $12.22 and a two-hundred day simple moving average of $12.48.

Alto Neuroscience (NYSE:ANRO) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.60) earnings per share for the quarter, beating the consensus estimate of ($0.67) by $0.07. As a group, analysts forecast that Alto Neuroscience will post -2.63 earnings per share for the current fiscal year.

Institutional Trading of Alto Neuroscience

Several institutional investors and hedge funds have recently made changes to their positions in ANRO. Rhumbline Advisers purchased a new position in Alto Neuroscience during the second quarter worth about $113,000. Federated Hermes Inc. lifted its position in shares of Alto Neuroscience by 33.3% during the 2nd quarter. Federated Hermes Inc. now owns 12,000 shares of the company’s stock worth $128,000 after buying an additional 3,000 shares in the last quarter. University of Texas Texas AM Investment Managment Co. purchased a new position in shares of Alto Neuroscience in the 1st quarter worth approximately $340,000. Bank of New York Mellon Corp bought a new position in shares of Alto Neuroscience in the second quarter valued at approximately $252,000. Finally, Bowie Capital Management LLC purchased 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.