Alto Neuroscience (NYSE:ANRO) Rating Lowered to Neutral at Rodman & Renshaw

Alto Neuroscience (NYSE:ANRO) was downgraded by Rodman & Renshaw from a “buy” rating to a “neutral” rating in a report issued on Wednesday, MarketBeat.com reports.

ANRO has been the subject of several other research reports. Wedbush reaffirmed an “outperform” rating and issued a $29.00 price objective on shares of Alto Neuroscience in a research note on Tuesday, September 10th. William Blair reaffirmed an “outperform” rating on shares of Alto Neuroscience in a research note on Tuesday, September 10th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $24.40.

Alto Neuroscience Trading Down 5.3 %

NYSE ANRO opened at $4.13 on Wednesday. The firm’s fifty day moving average price is $12.12 and its two-hundred day moving average price is $12.43. The company has a quick ratio of 19.85, a current ratio of 19.85 and a debt-to-equity ratio of 0.04. Alto Neuroscience has a fifty-two week low of $4.04 and a fifty-two week high of $24.00.

Alto Neuroscience (NYSE:ANRO) last issued 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, sell-side analysts forecast that Alto Neuroscience will post -2.63 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. RA Capital Management L.P. acquired a new stake in shares of Alto Neuroscience during the first quarter worth $21,267,000. Price T Rowe Associates Inc. MD acquired a new stake in Alto Neuroscience during the 1st quarter worth about $9,788,000. Vanguard Group Inc. bought a new position in shares of Alto Neuroscience in the 1st quarter worth about $8,233,000. Jennison Associates LLC acquired a new position in shares of Alto Neuroscience in the 1st quarter valued at about $7,039,000. Finally, Artal Group S.A. bought a new stake in shares of Alto Neuroscience during the 1st quarter valued at about $5,372,000.

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.