Alto Neuroscience (NYSE:ANRO) Trading Down 8.3% – What’s Next?

Alto Neuroscience, Inc. (NYSE:ANRO)’s stock price was down 8.3% on Wednesday . The stock traded as low as $29.02 and last traded at $28.24. 84,136 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 393,136 shares. The stock had previously closed at $30.78.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ANRO shares. BTIG Research upped their price objective on shares of Alto Neuroscience from $28.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Zacks Research raised shares of Alto Neuroscience from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 20th. Wall Street Zen lowered shares of Alto Neuroscience from a “hold” rating to a “sell” rating in a report on Saturday, September 12th. HC Wainwright upped their target price on Alto Neuroscience from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, August 17th. Finally, Wedbush increased their target price on Alto Neuroscience from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, August 13th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.25.

Alto Neuroscience Stock Performance

The business’s fifty day moving average price is $31.21 and its 200-day moving average price is $25.91. The company has a debt-to-equity ratio of 0.07, a quick ratio of 14.85 and a current ratio of 14.85. The stock has a market cap of $1.04 billion, a PE ratio of -10.98 and a beta of 1.13.

Alto Neuroscience (NYSE:ANRO) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.65) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.08. As a group, equities research analysts forecast that Alto Neuroscience, Inc. will post -2.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Alto Neuroscience

Hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP grew its position in Alto Neuroscience by 18.6% in the second quarter. Wellington Management Group LLP now owns 70,913 shares of the company’s stock worth $1,871,000 after acquiring an additional 11,114 shares in the last quarter. AWM Investment Company Inc. purchased a new stake in Alto Neuroscience during the second quarter valued at approximately $2,111,000. Bank of New York Mellon Corp bought a new stake in shares of Alto Neuroscience in the 2nd quarter valued at approximately $2,014,000. GK Wealth Management LLC bought a new stake in shares of Alto Neuroscience in the 2nd quarter valued at approximately $226,000. Finally, Perceptive Advisors LLC boosted its holdings in shares of Alto Neuroscience by 12.6% in the 1st quarter. Perceptive Advisors LLC now owns 2,009,893 shares of the company’s stock worth $45,182,000 after purchasing an additional 225,500 shares during the period.

Alto Neuroscience Company Profile

Alto Neuroscience, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for patients with neuropsychiatric disorders. The company combines clinical data, biological measurements and digital assessments to identify patient characteristics that may help predict treatment response and guide the development of more targeted therapies.

Alto’s pipeline has included investigational treatments for conditions such as major depressive disorder and schizophrenia.