Alto Neuroscience, Inc. (NYSE:ANRO) Receives $20.00 Average Target Price from Analysts

Shares of Alto Neuroscience, Inc. (NYSE:ANRO) have earned an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $20.00.

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

Alto Neuroscience Price Performance

ANRO opened at $4.43 on Tuesday. The company has a quick ratio of 13.09, a current ratio of 13.10 and a debt-to-equity ratio of 0.05. Alto Neuroscience has a 12-month low of $3.56 and a 12-month high of $24.00. The business has a 50 day moving average of $4.18 and a 200-day moving average of $9.01.

Alto Neuroscience (NYSE:ANRO) last announced its quarterly earnings results 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. As a group, research analysts predict that Alto Neuroscience will post -2.54 earnings per share for the current year.

Hedge Funds Weigh In On Alto Neuroscience

Hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets raised its holdings in shares of Alto Neuroscience by 619.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,315 shares of the company’s stock worth $49,000 after buying an additional 3,715 shares in the last quarter. Rhumbline Advisers acquired a new position in Alto Neuroscience during the second quarter worth about $113,000. Jane Street Group LLC bought a new position in shares of Alto Neuroscience in the third quarter worth about $124,000. Federated Hermes Inc. boosted its stake in shares of Alto Neuroscience by 33.3% in 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 in the last quarter. Finally, MetLife Investment Management LLC bought a new stake in shares of Alto Neuroscience during the 3rd quarter valued at approximately $146,000.

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.