Alto Neuroscience, Inc. (NYSE:ANRO) Short Interest Up 6.9% in September

Alto Neuroscience, Inc. (NYSE:ANRO) was the target of a large increase in short interest in September. As of September 15th, there was short interest totalling 3,270,000 shares, an increase of 6.9% from the August 31st total of 3,060,000 shares. Approximately 14.7% of the company’s stock are sold short. Based on an average daily volume of 279,600 shares, the days-to-cover ratio is presently 11.7 days.

Analysts Set New Price Targets

ANRO has been the topic of a number of research reports. William Blair reiterated an “outperform” rating on shares of Alto Neuroscience in a research note on Tuesday, September 10th. Rodman & Renshaw started coverage on Alto Neuroscience in a research report on Friday, June 21st. They set a “buy” rating and a $43.00 price target on the stock. Finally, Wedbush reissued an “outperform” rating and issued a $29.00 price objective on shares of Alto Neuroscience in a report on Tuesday, September 10th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $33.80.

Alto Neuroscience Trading Down 5.6 %

Shares of ANRO stock traded down $0.68 on Monday, reaching $11.42. 317,019 shares of the stock were exchanged, compared to its average volume of 220,683. The business’s 50 day moving average price is $11.94 and its 200 day moving average price is $12.87. 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 twelve month low of $7.91 and a twelve month high of $24.00.

Alto Neuroscience (NYSE:ANRO) last issued its earnings results on Tuesday, August 13th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.67) by $0.07. As a group, analysts expect that Alto Neuroscience will post -2.63 EPS for the current fiscal year.

Insider Activity

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

Institutional Trading of Alto Neuroscience

Several institutional investors and hedge funds have recently added to or reduced their stakes in ANRO. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of Alto Neuroscience during the 1st quarter worth $340,000. Jennison Associates LLC purchased a new stake in Alto Neuroscience during the first quarter worth about $7,039,000. Vanguard Group Inc. acquired a new position in Alto Neuroscience during the first quarter worth about $8,233,000. Price T Rowe Associates Inc. MD purchased a new position in Alto Neuroscience in the first quarter valued at about $9,788,000. Finally, AWM Investment Company Inc. purchased a new position in Alto Neuroscience in the first quarter valued at about $4,592,000.

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.