Alto Neuroscience (NYSE:ANRO) Shares Up 1.6% – Still a Buy?

Alto Neuroscience, Inc. (NYSE:ANRO) shares were up 1.6% during mid-day trading on Tuesday . The company traded as high as $14.70 and last traded at $14.52. Approximately 1,624,103 shares traded hands during trading, an increase of 559% from the average daily volume of 246,314 shares. The stock had previously closed at $14.29.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ANRO. William Blair reaffirmed an “outperform” rating on shares of Alto Neuroscience in a research report on Tuesday, September 10th. Rodman & Renshaw cut shares of Alto Neuroscience from a “buy” rating to a “neutral” rating in a research note on Wednesday. Wedbush downgraded 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 report on Wednesday. RODMAN&RENSHAW lowered shares of Alto Neuroscience from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Finally, Robert W. Baird lowered their target price on shares of Alto Neuroscience from $32.00 to $10.00 and set an “outperform” rating on the stock in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Alto Neuroscience currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.40.

Alto Neuroscience Stock Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 19.85 and a current ratio of 19.85. The stock’s 50-day moving average is $12.12 and its 200-day moving average is $12.43.

Alto Neuroscience (NYSE:ANRO) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.67) by $0.07. Analysts predict that Alto Neuroscience, Inc. will post -2.63 EPS for the current year.

Institutional Investors Weigh In On Alto Neuroscience

A number of institutional investors have recently added to or reduced their stakes in ANRO. RA Capital Management L.P. acquired a new stake in Alto Neuroscience in the 1st quarter valued at $21,267,000. Price T Rowe Associates Inc. MD bought a new position in shares of Alto Neuroscience during the first quarter valued at $9,788,000. Vanguard Group Inc. acquired a new stake in shares of Alto Neuroscience in the 1st quarter valued at $8,233,000. Jennison Associates LLC bought a new stake in shares of Alto Neuroscience in the 1st quarter worth about $7,039,000. Finally, Artal Group S.A. acquired a new stake in shares of Alto Neuroscience during the 1st quarter worth about $5,372,000.

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.