Alto Neuroscience (NYSE:ANRO) Sees Unusually-High Trading Volume – What’s Next?

Alto Neuroscience, Inc. (NYSE:ANRO) shares saw strong trading volume on Wednesday. Approximately 1,292,736 shares traded hands during mid-day trading, an increase of 215% from the previous session’s volume of 410,061 shares. The stock last traded at $21.9150 and had previously closed at $22.09.

Wall Street Analysts Forecast Growth

ANRO has been the subject of several research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alto Neuroscience in a report on Wednesday, July 29th. Zacks Research raised Alto Neuroscience from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 20th. Wall Street Zen cut Alto Neuroscience from a “hold” rating to a “sell” rating in a research note on Saturday, September 12th. BTIG Research raised their target price on Alto Neuroscience from $28.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Finally, Wedbush lifted their target price on Alto Neuroscience from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, August 13th. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Alto Neuroscience has a consensus rating of “Moderate Buy” and a consensus price target of $37.25.

Alto Neuroscience Stock Performance

The stock has a market capitalization of $847.98 million, a PE ratio of -8.89 and a beta of 1.31. The company has a quick ratio of 14.85, a current ratio of 14.85 and a debt-to-equity ratio of 0.07. The stock has a fifty day moving average of $30.55 and a 200-day moving average of $26.27.

Alto Neuroscience (NYSE:ANRO) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.65) earnings per share for the quarter, topping the consensus estimate of ($0.73) by $0.08. Equities analysts anticipate that Alto Neuroscience, Inc. will post -2.68 earnings per share for the current fiscal year.

Insider Activity at Alto Neuroscience

In related news, CFO Nicholas Smith sold 110,830 shares of the company’s stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $26.58, for a total transaction of $2,945,861.40. Following the sale, the chief financial officer directly owned 24,060 shares in the company, valued at approximately $639,514.80. This represents a 82.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 11.25% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its holdings in Alto Neuroscience by 48,581.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 5,355 shares of the company’s stock worth $137,000 after acquiring an additional 5,344 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Alto Neuroscience by 18.6% in the 2nd quarter. Wellington Management Group LLP now owns 70,913 shares of the company’s stock valued at $1,871,000 after purchasing an additional 11,114 shares in the last quarter. AWM Investment Company Inc. purchased a new stake in shares of Alto Neuroscience during the 2nd quarter worth $2,111,000. Bank of New York Mellon Corp purchased a new stake in shares of Alto Neuroscience during the 2nd quarter worth $2,014,000. Finally, GK Wealth Management LLC purchased a new stake in shares of Alto Neuroscience during the 2nd quarter worth $226,000.

About Alto Neuroscience

Alto Neuroscience, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for patients with psychiatric and neurological disorders. The company seeks to use neuroscience, digital health tools and biological and behavioral biomarkers to identify patient subgroups that may respond to specific treatments.

Alto’s pipeline has included investigational therapies for major depressive disorder and other central nervous system conditions. Its development programs are designed to address limitations of conventional psychiatric treatment by matching therapies to patient characteristics and measuring treatment response through objective data.