Alto Neuroscience, Inc. (NYSE:ANRO) Receives Average Recommendation of “Buy” from Analysts

Alto Neuroscience, Inc. (NYSE:ANRO) has been given a consensus recommendation of “Buy” by the seven analysts that are presently covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $33.80.

Several equities analysts recently weighed in on ANRO shares. William Blair restated an “outperform” rating on shares of Alto Neuroscience in a report on Wednesday, June 12th. Rodman & Renshaw assumed coverage on Alto Neuroscience in a research note on Friday, June 21st. They set a “buy” rating and a $43.00 price objective on the stock. Finally, Wedbush began coverage on Alto Neuroscience in a research note on Tuesday. They issued an “outperform” rating and a $29.00 target price for the company.

Insider Buying and Selling at Alto Neuroscience

In other Alto Neuroscience news, insider Adam Savitz acquired 12,069 shares of the stock in a transaction on Tuesday, July 9th. The stock was purchased at an average price of $12.60 per share, for a total transaction of $152,069.40. Following the purchase, the insider now directly owns 36,920 shares in the company, valued at $465,192. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Inflows and Outflows

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

Alto Neuroscience Price Performance

NYSE ANRO opened at $13.22 on Wednesday. The company has a quick ratio of 19.85, a current ratio of 19.85 and a debt-to-equity ratio of 0.04. Alto Neuroscience has a 1-year low of $7.91 and a 1-year high of $24.00. The business’s 50-day simple moving average is $11.77 and its 200-day simple moving average is $13.08.

Alto Neuroscience (NYSE:ANRO) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.60) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.07. On average, research analysts anticipate that Alto Neuroscience will post -2.64 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.