Alto Neuroscience (NYSE:ANRO) Shares Gap Down – Time to Sell?

Alto Neuroscience, Inc. (NYSE:ANRO)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $17.03, but opened at $16.31. Alto Neuroscience shares last traded at $17.3820, with a volume of 377,278 shares changing hands.

Wall Street Analysts Forecast Growth

ANRO has been the subject of a number of recent analyst reports. HC Wainwright increased their price objective on Alto Neuroscience from $10.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, October 24th. BTIG Research began coverage on shares of Alto Neuroscience in a research note on Monday, November 17th. They issued a “buy” rating and a $27.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Alto Neuroscience in a research note on Wednesday, October 8th. Robert W. Baird lifted their target price on shares of Alto Neuroscience from $16.00 to $22.00 and gave the stock an “outperform” rating in a report on Thursday, November 13th. Finally, Wall Street Zen upgraded shares of Alto Neuroscience from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Alto Neuroscience currently has a consensus rating of “Moderate Buy” and an average price target of $23.83.

Alto Neuroscience Trading Up 1.4%

The stock has a market cap of $536.67 million, a price-to-earnings ratio of -7.55 and a beta of 2.95. The business has a 50-day simple moving average of $11.82 and a two-hundred day simple moving average of $6.23. The company has a debt-to-equity ratio of 0.20, a quick ratio of 15.42 and a current ratio of 15.42.

Alto Neuroscience (NYSE:ANRO) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.66) by $0.14. As a group, research analysts forecast that Alto Neuroscience, Inc. will post -2.54 EPS for the current year.

Institutional Investors Weigh In On Alto Neuroscience

Several large investors have recently added to or reduced their stakes in ANRO. Bank of Montreal Can bought a new stake in shares of Alto Neuroscience during the second quarter valued at approximately $25,000. Ground Swell Capital LLC bought a new stake in shares of Alto Neuroscience in the 2nd quarter worth approximately $27,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Alto Neuroscience during the 2nd quarter valued at $33,000. AlphaCore Capital LLC boosted its position in Alto Neuroscience by 100.0% during the second quarter. AlphaCore Capital LLC now owns 20,000 shares of the company’s stock worth $44,000 after purchasing an additional 10,000 shares during the period. Finally, AQR Capital Management LLC purchased a new position in Alto Neuroscience in the 1st quarter valued at approximately $52,000.

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.