Alto Neuroscience (NYSE:ANRO) Announces Quarterly Earnings Results, Beats Expectations By $0.18 EPS

Alto Neuroscience (NYSE:ANRO) released its earnings results on Tuesday. The company reported ($0.52) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.18, Zacks reports.

Alto Neuroscience Trading Up 6.0%

ANRO traded up $0.81 during trading on Wednesday, reaching $14.21. 301,560 shares of the stock traded hands, compared to its average volume of 642,769. The company has a quick ratio of 18.43, a current ratio of 18.43 and a debt-to-equity ratio of 0.18. The stock’s 50-day moving average is $7.17 and its 200 day moving average is $4.33. Alto Neuroscience has a 12 month low of $1.60 and a 12 month high of $15.18. The stock has a market capitalization of $384.63 million, a PE ratio of -5.94 and a beta of 2.90.

Hedge Funds Weigh In On Alto Neuroscience

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Alto Neuroscience by 1.9% in the third quarter. Vanguard Group Inc. now owns 1,105,407 shares of the company’s stock worth $4,444,000 after acquiring an additional 20,702 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of Alto Neuroscience in the 1st quarter worth $52,000. Bridgeway Capital Management LLC grew its position in Alto Neuroscience by 85.9% in the 2nd quarter. Bridgeway Capital Management LLC now owns 54,100 shares of the company’s stock valued at $119,000 after purchasing an additional 25,000 shares during the period. Invesco Ltd. bought a new stake in Alto Neuroscience during the 1st quarter valued at $67,000. Finally, Marshall Wace LLP raised its holdings in Alto Neuroscience by 9.9% during the second quarter. Marshall Wace LLP now owns 937,407 shares of the company’s stock worth $2,062,000 after buying an additional 84,417 shares during the last quarter.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Robert W. Baird upped their price objective on shares of Alto Neuroscience from $10.00 to $16.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. HC Wainwright upped their price target on shares of Alto Neuroscience from $10.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, October 24th. Chardan Capital started coverage on Alto Neuroscience in a report on Monday, September 29th. They set a “buy” rating and a $15.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alto Neuroscience in a report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

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.