Rodman & Renshaw Lowers Alto Neuroscience (NYSE:ANRO) to Neutral

Rodman & Renshaw downgraded shares of Alto Neuroscience (NYSE:ANRO) from a buy rating to a neutral rating in a research note published on Wednesday morning, Marketbeat.com reports.

A number of other research analysts have also commented on ANRO. William Blair reaffirmed an “outperform” rating on shares of Alto Neuroscience in a report on Tuesday, September 10th. Wedbush reaffirmed an “outperform” rating and set a $29.00 price target on shares of Alto Neuroscience in a research report on Tuesday, September 10th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.40.

Alto Neuroscience Stock Performance

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

Alto Neuroscience (NYSE:ANRO) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.07. Sell-side analysts forecast that Alto Neuroscience will post -2.63 EPS for the current fiscal year.

Institutional Trading of Alto Neuroscience

Several large investors have recently modified their holdings of ANRO. Rhumbline Advisers bought a new stake in shares of Alto Neuroscience during the 2nd quarter worth approximately $113,000. Federated Hermes Inc. increased its stake in Alto Neuroscience by 33.3% in the second quarter. Federated Hermes Inc. now owns 12,000 shares of the company’s stock valued at $128,000 after acquiring an additional 3,000 shares during the last quarter. University of Texas Texas AM Investment Managment Co. acquired a new position in Alto Neuroscience during the first quarter valued at approximately $340,000. Bank of New York Mellon Corp bought a new stake in Alto Neuroscience during the second quarter worth $252,000. Finally, Bowie Capital Management LLC acquired a new stake in shares of Alto Neuroscience in the 2nd quarter valued at $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.