William Blair Cuts Earnings Estimates for Alto Neuroscience

Alto Neuroscience, Inc. (NYSE:ANRO) – Equities research analysts at William Blair lowered their FY2028 earnings per share estimates for Alto Neuroscience in a research note issued to investors on Tuesday, October 22nd. William Blair analyst M. Minter now anticipates that the company will earn ($3.26) per share for the year, down from their prior forecast of ($3.16). William Blair currently has a “Outperform” rating on the stock. The consensus estimate for Alto Neuroscience’s current full-year earnings is ($2.63) per share.

Alto Neuroscience (NYSE:ANRO) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.67) by $0.07.

Several other research analysts have also weighed in on the stock. Rodman & Renshaw lowered shares of Alto Neuroscience from a “buy” rating to a “neutral” rating in a research note on Wednesday. Wedbush lowered Alto Neuroscience from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $29.00 to $4.00 in a report on Wednesday. Robert W. Baird lowered their target price on Alto Neuroscience from $32.00 to $10.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, RODMAN&RENSHAW downgraded Alto Neuroscience from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.40.

Alto Neuroscience Price Performance

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers bought a new stake in Alto Neuroscience during the second quarter worth approximately $113,000. Federated Hermes Inc. grew its stake in 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 buying an additional 3,000 shares during the last quarter. University of Texas Texas AM Investment Managment Co. bought a new position in Alto Neuroscience in the 1st quarter worth $340,000. Bank of New York Mellon Corp acquired a new position in Alto Neuroscience during the 2nd quarter worth $252,000. Finally, Bowie Capital Management LLC bought a new stake in Alto Neuroscience during the second quarter valued at about $462,000.

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.