HC Wainwright Begins Coverage on Alto Neuroscience (NYSE:ANRO)

HC Wainwright initiated coverage on shares of Alto Neuroscience (NYSE:ANRO) in a report released on Monday morning,Benzinga reports. The brokerage issued a buy rating and a $10.00 price objective on the stock.

Separately, William Blair reiterated an “outperform” rating on shares of Alto Neuroscience in a research report on Friday, March 21st. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.40.

Alto Neuroscience Stock Up 24.8 %

Shares of NYSE ANRO opened at $2.25 on Monday. The company has a current ratio of 13.10, a quick ratio of 13.09 and a debt-to-equity ratio of 0.05. Alto Neuroscience has a 12-month low of $1.60 and a 12-month high of $17.55. The firm’s 50-day moving average price is $3.13 and its 200-day moving average price is $5.18. The stock has a market capitalization of $60.80 million, a price-to-earnings ratio of -0.88 and a beta of 2.16.

Alto Neuroscience (NYSE:ANRO) last issued its quarterly earnings data on Thursday, March 20th. The company reported ($0.56) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.09. On average, equities research analysts anticipate that Alto Neuroscience will post -2.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Alto Neuroscience

A number of institutional investors and hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN increased its stake in Alto Neuroscience by 40.0% in the fourth quarter. Wells Fargo & Company MN now owns 10,989 shares of the company’s stock worth $46,000 after purchasing an additional 3,139 shares during the period. Deutsche Bank AG grew its holdings in shares of Alto Neuroscience by 31.3% in the fourth quarter. Deutsche Bank AG now owns 15,210 shares of the company’s stock worth $64,000 after purchasing an additional 3,629 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Alto Neuroscience by 619.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,315 shares of the company’s stock worth $49,000 after buying an additional 3,715 shares during the period. Rhumbline Advisers lifted its holdings 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 buying an additional 5,008 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Alto Neuroscience by 15.0% in the 4th quarter. Bank of New York Mellon Corp now owns 52,271 shares of the company’s stock valued at $221,000 after buying an additional 6,812 shares during the period.

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.