Alto Neuroscience, Inc. (NYSE:ANRO) Given Consensus Rating of “Buy” by Brokerages

Shares of Alto Neuroscience, Inc. (NYSE:ANRO) have been assigned a consensus rating of “Buy” from the seven research firms that are currently covering the stock, MarketBeat.com reports. Seven equities research analysts have rated the stock with a buy rating. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $33.80.

ANRO has been the subject of several recent analyst reports. Wedbush reissued an “outperform” rating and set a $29.00 price objective on shares of Alto Neuroscience in a report on Tuesday, September 10th. William Blair reiterated an “outperform” rating on shares of Alto Neuroscience in a research note on Tuesday, September 10th. Finally, Rodman & Renshaw assumed coverage on Alto Neuroscience in a report on Friday, June 21st. They issued a “buy” rating and a $43.00 price objective for the company.

Alto Neuroscience Stock Performance

Shares of NYSE ANRO opened at $12.10 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 19.85 and a current ratio of 19.85. Alto Neuroscience has a fifty-two week low of $7.91 and a fifty-two week high of $24.00. The business has a 50 day moving average price of $11.94 and a two-hundred day moving average price of $12.89.

Alto Neuroscience (NYSE:ANRO) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.60) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.07. Sell-side analysts predict that Alto Neuroscience will post -2.63 EPS for the current fiscal year.

Insider Transactions at Alto Neuroscience

In related news, insider Adam Savitz bought 12,069 shares of the stock in a transaction dated Tuesday, July 9th. The stock was bought at an average cost of $12.60 per share, with a total value of $152,069.40. Following the completion of the acquisition, the insider now owns 36,920 shares of the company’s stock, valued at $465,192. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Institutional Investors Weigh In On Alto Neuroscience

Hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers bought a new position in shares of Alto Neuroscience during the second quarter worth about $113,000. Federated Hermes Inc. boosted its stake in Alto Neuroscience by 33.3% during the 2nd quarter. Federated Hermes Inc. now owns 12,000 shares of the company’s stock valued at $128,000 after purchasing an additional 3,000 shares during the period. University of Texas Texas AM Investment Managment Co. bought a new position in Alto Neuroscience in the 1st quarter worth about $340,000. Bank of New York Mellon Corp acquired a new stake in shares of Alto Neuroscience in the second quarter valued at approximately $252,000. Finally, Bowie Capital Management LLC acquired a new stake in shares of Alto Neuroscience in the second quarter valued at approximately $462,000.

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.