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

Alto Neuroscience, Inc. (NYSE:ANRO) has been assigned an average rating of “Moderate Buy” from the eight analysts that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $20.00.

A number of research analysts have issued reports on ANRO shares. Wedbush lowered shares of Alto Neuroscience from an “outperform” rating to a “neutral” rating and cut their price target for the company from $29.00 to $4.00 in a research note on Wednesday, October 23rd. RODMAN&RENSHAW lowered Alto Neuroscience from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Robert W. Baird dropped their price target on Alto Neuroscience from $32.00 to $10.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Rodman & Renshaw downgraded Alto Neuroscience from a “buy” rating to a “neutral” rating in a report on Wednesday, October 23rd. Finally, Stifel Nicolaus cut their price target on shares of Alto Neuroscience from $32.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets grew its stake in shares of Alto Neuroscience by 619.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,315 shares of the company’s stock worth $49,000 after purchasing an additional 3,715 shares during the period. Rhumbline Advisers acquired a new stake in Alto Neuroscience during the second quarter valued at $113,000. Jane Street Group LLC purchased a new position in Alto Neuroscience in the third quarter valued at $124,000. Federated Hermes Inc. boosted its stake 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 acquiring an additional 3,000 shares in the last quarter. Finally, MetLife Investment Management LLC acquired a new stake in shares of Alto Neuroscience during the 3rd quarter valued at about $146,000.

Alto Neuroscience Trading Down 1.6 %

Shares of ANRO opened at $4.28 on Tuesday. 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 has a 12 month low of $3.56 and a 12 month high of $24.00. The stock has a fifty day moving average price of $4.20 and a 200-day moving average price of $8.91.

Alto Neuroscience (NYSE:ANRO) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.62) earnings per share for the quarter, topping the consensus estimate of ($0.67) by $0.05. On average, research analysts expect that Alto Neuroscience will post -2.54 earnings per share for the current year.

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.