Alto Neuroscience (NYSE:ANRO) Downgraded by Wedbush

Wedbush cut shares of Alto Neuroscience (NYSE:ANRO) from an outperform rating to a neutral rating in a report released on Wednesday morning, Marketbeat Ratings reports. They currently have $4.00 target price on the stock, down from their previous target price of $29.00.

Other equities research analysts also recently issued research reports about the company. William Blair reissued an “outperform” rating on shares of Alto Neuroscience in a report on Tuesday, September 10th. Robert W. Baird lowered their target price on shares of Alto Neuroscience from $32.00 to $10.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Rodman & Renshaw lowered shares of Alto Neuroscience from a “buy” rating to a “neutral” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.40.

Alto Neuroscience Stock Performance

NYSE:ANRO opened at $4.36 on Wednesday. The firm has a 50 day moving average of $12.02 and a 200 day moving average of $12.36. The company has a debt-to-equity ratio of 0.04, a current ratio of 19.85 and a quick ratio of 19.85. Alto Neuroscience has a 52 week low of $3.93 and a 52 week high of $24.00.

Alto Neuroscience (NYSE:ANRO) last posted its quarterly earnings data 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. As a group, research analysts predict that Alto Neuroscience will post -2.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alto Neuroscience

A number of large investors have recently bought and sold shares of ANRO. Federated Hermes Inc. raised its position in 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 buying an additional 3,000 shares during the last quarter. Bowie Capital Management LLC purchased a new stake in shares of Alto Neuroscience in the 2nd quarter valued at $462,000. TD Asset Management Inc acquired a new stake in shares of Alto Neuroscience in the second quarter worth $928,000. Rhumbline Advisers purchased a new position in shares of Alto Neuroscience during the second quarter worth $113,000. Finally, Bank of New York Mellon Corp acquired a new position in Alto Neuroscience during the second quarter valued at $252,000.

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.