Brokerages Set Alto Neuroscience, Inc. (NYSE:ANRO) Price Target at $15.40

Alto Neuroscience, Inc. (NYSE:ANRO) has been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $15.40.

A number of equities analysts recently issued reports on ANRO shares. William Blair reissued an “outperform” rating on shares of Alto Neuroscience in a report on Friday, March 21st. Wedbush reissued a “neutral” rating and issued a $4.00 price objective on shares of Alto Neuroscience in a report on Thursday. Finally, HC Wainwright started coverage on Alto Neuroscience in a report on Monday, April 7th. They issued a “buy” rating and a $10.00 price objective for the company.

Alto Neuroscience Stock Up 5.0%

Shares of Alto Neuroscience stock opened at $2.55 on Friday. The company has a current ratio of 13.10, a quick ratio of 13.09 and a debt-to-equity ratio of 0.05. The business’s 50 day simple moving average is $2.37 and its 200-day simple moving average is $3.43. The stock has a market capitalization of $69.06 million, a price-to-earnings ratio of -1.00 and a beta of 1.87. Alto Neuroscience has a twelve month low of $1.60 and a twelve month high of $17.55.

Alto Neuroscience (NYSE:ANRO) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.53) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.06. Equities research analysts forecast that Alto Neuroscience will post -2.54 earnings per share for the current year.

Hedge Funds Weigh In On Alto Neuroscience

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its stake in Alto Neuroscience by 40.0% during the 4th quarter. Wells Fargo & Company MN now owns 10,989 shares of the company’s stock valued at $46,000 after purchasing an additional 3,139 shares in the last quarter. Deutsche Bank AG boosted its stake in Alto Neuroscience by 31.3% during the 4th quarter. Deutsche Bank AG now owns 15,210 shares of the company’s stock valued at $64,000 after purchasing an additional 3,629 shares in the last quarter. Rhumbline Advisers boosted its stake in Alto Neuroscience by 24.4% during the 4th quarter. Rhumbline Advisers now owns 25,556 shares of the company’s stock valued at $108,000 after purchasing an additional 5,008 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Alto Neuroscience by 15.0% during the 4th quarter. Bank of New York Mellon Corp now owns 52,271 shares of the company’s stock valued at $221,000 after purchasing an additional 6,812 shares in the last quarter. Finally, Jane Street Group LLC boosted its stake in Alto Neuroscience by 72.0% during the 4th quarter. Jane Street Group LLC now owns 18,600 shares of the company’s stock valued at $79,000 after purchasing an additional 7,783 shares in the last quarter.

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.