Brokerages Set Alto Neuroscience, Inc. (NYSE:ANRO) Price Target at $20.00

Alto Neuroscience, Inc. (NYSE:ANRO) has been assigned an average rating of “Moderate Buy” from the eight research firms that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $20.00.

A number of brokerages recently issued reports on ANRO. RODMAN&RENSHAW lowered Alto Neuroscience from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Rodman & Renshaw downgraded Alto Neuroscience from a “buy” rating to a “neutral” rating in a report on Wednesday, October 23rd. William Blair reiterated an “outperform” rating on shares of Alto Neuroscience in a report on Tuesday, September 10th. Robert W. Baird reduced their price target on shares of Alto Neuroscience from $32.00 to $10.00 and set an “outperform” rating for the company in a research report on Wednesday, October 23rd. Finally, Wedbush downgraded Alto Neuroscience from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $29.00 to $4.00 in a research note on Wednesday, October 23rd.

Institutional Investors Weigh In On Alto Neuroscience

A number of hedge funds and other institutional investors have recently made changes to their positions in ANRO. FMR LLC raised its holdings in Alto Neuroscience by 1.4% in the 3rd quarter. FMR LLC now owns 2,363,056 shares of the company’s stock valued at $27,033,000 after buying an additional 32,040 shares during the period. RA Capital Management L.P. acquired a new position in Alto Neuroscience during the 1st quarter worth about $21,267,000. Jennison Associates LLC increased its stake in Alto Neuroscience by 80.3% during the 3rd quarter. Jennison Associates LLC now owns 832,290 shares of the company’s stock worth $9,521,000 after buying an additional 370,612 shares during the period. Vestal Point Capital LP increased its holdings in Alto Neuroscience by 4.8% during the 3rd quarter. Vestal Point Capital LP now owns 650,000 shares of the company’s stock worth $7,436,000 after purchasing an additional 30,000 shares during the period. Finally, Price T Rowe Associates Inc. MD acquired a new position in Alto Neuroscience during the 1st quarter worth approximately $9,788,000.

Alto Neuroscience Stock Down 4.7 %

Shares of NYSE:ANRO opened at $4.27 on Monday. The business has a fifty day simple moving average of $9.32 and a 200 day simple moving average of $11.13. The company has a current ratio of 13.10, a quick ratio of 13.09 and a debt-to-equity ratio of 0.05. Alto Neuroscience has a 1 year low of $3.61 and a 1 year high of $24.00.

Alto Neuroscience (NYSE:ANRO) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.62) EPS for the quarter, beating the consensus estimate of ($0.67) by $0.05. On average, equities research analysts expect that Alto Neuroscience will post -2.6 EPS for the current fiscal 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.