Brokerages Set Alto Neuroscience, Inc. (NYSE:ANRO) PT at $8.50

Alto Neuroscience, Inc. (NYSE:ANRO) has been given an average recommendation of “Moderate Buy” by the seven brokerages that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $8.50.

ANRO has been the subject of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price target on shares of Alto Neuroscience in a research note on Monday. Wedbush reaffirmed a “neutral” rating and issued a $4.00 price target on shares of Alto Neuroscience in a research note on Thursday, May 15th.

Alto Neuroscience Trading Up 0.3%

ANRO opened at $3.4390 on Monday. Alto Neuroscience has a 1-year low of $1.60 and a 1-year high of $15.04. The company has a current ratio of 18.43, a quick ratio of 18.43 and a debt-to-equity ratio of 0.18. The company has a market cap of $93.13 million, a P/E ratio of -1.44 and a beta of 1.84. The company has a fifty day moving average price of $2.75 and a two-hundred day moving average price of $2.73.

Alto Neuroscience (NYSE:ANRO) last posted its quarterly earnings results on Wednesday, August 13th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.08). Analysts predict that Alto Neuroscience will post -2.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Alto Neuroscience

Several hedge funds and other institutional investors have recently made changes to their positions in ANRO. Bridgeway Capital Management LLC increased its position 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 acquiring an additional 25,000 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Alto Neuroscience during the second quarter worth about $240,000. Armistice Capital LLC increased its position in shares of Alto Neuroscience by 1.5% during the second quarter. Armistice Capital LLC now owns 1,624,000 shares of the company’s stock worth $3,573,000 after acquiring an additional 24,000 shares in the last quarter. Marshall Wace LLP increased its position in shares of Alto Neuroscience by 9.9% during 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 in the last quarter. Finally, AlphaCore Capital LLC increased its position in shares of Alto Neuroscience by 100.0% during the second quarter. AlphaCore Capital LLC now owns 20,000 shares of the company’s stock worth $44,000 after acquiring an additional 10,000 shares in the last quarter.

Alto Neuroscience Company Profile

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.