Alto Neuroscience (NYSE:ANRO) Shares Gap Up on Analyst Upgrade

Alto Neuroscience, Inc. (NYSE:ANRO)’s stock price gapped up prior to trading on Tuesday after HC Wainwright raised their price target on the stock from $55.00 to $60.00. The stock had previously closed at $21.94, but opened at $23.23. HC Wainwright currently has a buy rating on the stock. Alto Neuroscience shares last traded at $24.19, with a volume of 6,539 shares.

Other equities analysts have also issued research reports about the stock. BTIG Research increased their price target on shares of Alto Neuroscience from $28.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Alto Neuroscience in a report on Wednesday, July 29th. Wedbush lifted their price objective on shares of Alto Neuroscience from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, August 13th. Wall Street Zen cut shares of Alto Neuroscience from a “hold” rating to a “sell” rating in a research note on Saturday, September 12th. Finally, Zacks Research upgraded shares of Alto Neuroscience from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 20th. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.88.

Insider Buying and Selling at Alto Neuroscience

In other news, CFO Nicholas Smith sold 110,830 shares of the stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $26.58, for a total transaction of $2,945,861.40. Following the completion of the transaction, the chief financial officer owned 24,060 shares in the company, valued at approximately $639,514.80. This represents a 82.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 11.25% of the company’s stock.

Institutional Investors Weigh In On Alto Neuroscience

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quantinno Capital Management LP grew its stake in Alto Neuroscience by 1.4% during the first quarter. Quantinno Capital Management LP now owns 36,069 shares of the company’s stock valued at $811,000 after acquiring an additional 490 shares in the last quarter. Farther Finance Advisors LLC increased 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 during the period. Renaissance Technologies LLC increased its holdings in Alto Neuroscience by 6.3% during the 1st quarter. Renaissance Technologies LLC now owns 103,499 shares of the company’s stock worth $2,327,000 after acquiring an additional 6,100 shares during the period. Dimensional Fund Advisors LP increased its holdings in Alto Neuroscience by 26.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 39,324 shares of the company’s stock worth $884,000 after acquiring an additional 8,148 shares during the period. Finally, GK Wealth Management LLC purchased a new stake in Alto Neuroscience in the 2nd quarter worth approximately $226,000.

Alto Neuroscience Stock Up 10.5%

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 firm has a market capitalization of $950.98 million, a PE ratio of -10.01 and a beta of 1.31. The company’s 50 day simple moving average is $30.06 and its 200-day simple moving average is $26.31.

Alto Neuroscience (NYSE:ANRO) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.65) EPS for the quarter, beating the consensus estimate of ($0.73) by $0.08. On average, analysts forecast that Alto Neuroscience, Inc. will post -2.68 EPS for the current fiscal year.

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.