Alto Neuroscience (NYSE:ANRO) Releases Earnings Results, Misses Estimates By $0.24 EPS

Alto Neuroscience (NYSE:ANRO) released its quarterly earnings results on Wednesday. The company reported ($0.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.24), FiscalAI reports.

Here are the key takeaways from Alto Neuroscience’s conference call:

• Alto emphasized that its lead program ALTO-207 has shown a potentially differentiated efficacy signal in treatment-resistant depression by directly stimulating dopamine receptors, with the company positioning it as a potential best-in-class approach if tolerability issues are solved.
• The company highlighted encouraging data from prior studies, including the PAX-D trial and an earlier phase IIa study, where pramipexole-based treatment showed large effect sizes and durable benefit over time, though nausea and vomiting remained the key limitation.
• Alto said it has launched a 178-patient phase IIb trial of ALTO-207 in Q2, using a fixed-dose combination of pramipexole and ondansetron designed to improve tolerability and enable faster titration, with top-line results expected in the second half of next year.
• Management stated that the company’s current cash runway is expected to fund multiple late-stage programs, including ALTO-207 through a planned phase III path, with cash reportedly lasting through 2029.
• Beyond ALTO-207, Alto pointed to two other biomarker-guided programs, ALTO-300 in depression and ALTO-100 in bipolar depression, as additional near-term clinical catalysts with the potential to address large unmet needs.

Alto Neuroscience Price Performance

ANRO stock traded up $0.80 during trading on Thursday, hitting $23.65. 362,951 shares of the stock traded hands, compared to its average volume of 273,767. Alto Neuroscience has a one year low of $2.15 and a one year high of $28.44. The stock has a market cap of $755.52 million, a price-to-earnings ratio of -10.75 and a beta of 1.62. The company has a 50 day simple moving average of $23.13 and a 200 day simple moving average of $18.38. The company has a current ratio of 15.69, a quick ratio of 15.69 and a debt-to-equity ratio of 0.12.

Hedge Funds Weigh In On Alto Neuroscience

Several institutional investors have recently added to or reduced their stakes in ANRO. Invesco Ltd. bought a new position in shares of Alto Neuroscience in the first quarter worth about $67,000. AQR Capital Management LLC bought a new position in shares of Alto Neuroscience in the first quarter worth about $52,000. Marshall Wace LLP raised its stake in shares of Alto Neuroscience by 9.9% in the second quarter. Marshall Wace LLP now owns 937,407 shares of the company’s stock worth $2,062,000 after acquiring an additional 84,417 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Alto Neuroscience in the second quarter worth about $240,000. Finally, Bridgeway Capital Management LLC raised its stake in shares of Alto Neuroscience by 85.9% during the second quarter. Bridgeway Capital Management LLC now owns 54,100 shares of the company’s stock worth $119,000 after buying an additional 25,000 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Wedbush lifted their price objective on Alto Neuroscience from $21.00 to $24.00 and gave the stock a “neutral” rating in a research note on Thursday. HC Wainwright reissued a “buy” rating and set a $50.00 price objective on shares of Alto Neuroscience in a research report on Monday. Wall Street Zen raised Alto Neuroscience from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. BTIG Research boosted their price objective on Alto Neuroscience from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Finally, Chardan Capital reissued a “buy” rating and set a $30.00 price objective on shares of Alto Neuroscience in a research report on Wednesday, April 22nd. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $35.50.

About Alto Neuroscience

Alto Neuroscience (NYSE:ANRO) is a clinical-stage biotechnology company dedicated to advancing precision medicine in neuropsychiatric disorders. The company leverages an integrated digital clinical neuroscience platform that gathers and analyzes multimodal biomarker data—such as electroencephalography (EEG), cognitive assessments and patient-reported outcomes—to predict individual treatment responses. This approach aims to accelerate drug development and improve therapeutic outcomes for conditions like major depressive disorder and treatment-resistant depression.

Alto’s proprietary platform combines data science, machine learning and proprietary algorithms to stratify patient populations and identify responders to investigational therapies.