Alto Neuroscience, Inc. (NYSE:ANRO) Receives $20.00 Average PT from Brokerages

Shares of Alto Neuroscience, Inc. (NYSE:ANRO) have earned an average rating of “Moderate Buy” from the eight analysts that are covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $20.00.

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

Alto Neuroscience Trading Down 7.2 %

NYSE ANRO opened at $3.67 on Friday. Alto Neuroscience has a one year low of $3.56 and a one year high of $19.66. The company has a debt-to-equity ratio of 0.05, a current ratio of 13.10 and a quick ratio of 13.09. The company’s 50-day simple moving average is $4.22 and its two-hundred day simple moving average is $7.88.

Alto Neuroscience (NYSE:ANRO) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.62) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.67) by $0.05. Analysts forecast that Alto Neuroscience will post -2.54 earnings per share for the current year.

Hedge Funds Weigh In On Alto Neuroscience

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its position in Alto Neuroscience by 148.7% during the 3rd quarter. Geode Capital Management LLC now owns 469,988 shares of the company’s stock worth $5,378,000 after purchasing an additional 281,018 shares during the last quarter. State Street Corp grew its holdings in shares of Alto Neuroscience by 123.7% during the third quarter. State Street Corp now owns 236,857 shares of the company’s stock valued at $2,710,000 after buying an additional 130,985 shares during the last quarter. Jennison Associates LLC increased its position in shares of Alto Neuroscience by 80.3% in the 3rd quarter. Jennison Associates LLC now owns 832,290 shares of the company’s stock valued at $9,521,000 after acquiring an additional 370,612 shares during the period. Franklin Resources Inc. raised its stake in Alto Neuroscience by 95.3% in the 3rd quarter. Franklin Resources Inc. now owns 1,220,712 shares of the company’s stock worth $13,965,000 after acquiring an additional 595,673 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in Alto Neuroscience during the 3rd quarter worth about $124,000.

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.