Brokerages Set Alto Neuroscience, Inc. (NYSE:ANRO) Target Price at $24.40

Alto Neuroscience, Inc. (NYSE:ANRO) has been given an average rating of “Moderate Buy” by the eight analysts that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $24.40.

Several analysts recently weighed in on the company. William Blair restated an “outperform” rating on shares of Alto Neuroscience in a report on Tuesday, September 10th. Wedbush lowered Alto Neuroscience from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $29.00 to $4.00 in a research note on Wednesday. Rodman & Renshaw downgraded shares of Alto Neuroscience from a “buy” rating to a “neutral” rating in a research note on Wednesday. RODMAN&RENSHAW lowered shares of Alto Neuroscience from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Finally, Robert W. Baird reduced their price objective on Alto Neuroscience from $32.00 to $10.00 and set an “outperform” rating on the stock in a report on Wednesday.

Institutional Investors Weigh In On Alto Neuroscience

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Federated Hermes Inc. increased its position in shares of 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 buying an additional 3,000 shares in the last quarter. Bowie Capital Management LLC acquired a new stake in shares of Alto Neuroscience in the 2nd quarter worth $462,000. TD Asset Management Inc acquired a new position in Alto Neuroscience in the 2nd quarter valued at about $928,000. Rhumbline Advisers purchased a new stake in shares of Alto Neuroscience in the 2nd quarter valued at approximately $113,000. Finally, Bank of New York Mellon Corp purchased a new position in Alto Neuroscience in the second quarter worth approximately $252,000.

Alto Neuroscience Stock Up 5.8 %

Shares of NYSE ANRO opened at $4.37 on Thursday. Alto Neuroscience has a 12-month low of $3.93 and a 12-month high of $24.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 19.85 and a current ratio of 19.85. The firm has a 50 day moving average of $12.02 and a 200 day moving average of $12.36.

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

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.