Alto Neuroscience (NYSE:ANRO) Rating Lowered to Neutral at Wedbush

Alto Neuroscience (NYSE:ANRO) was downgraded by research analysts at Wedbush from an “outperform” rating to a “neutral” rating in a research report issued on Wednesday, Briefing.com reports. They presently have a $4.00 price objective on the stock, down from their prior price objective of $29.00. Wedbush’s target price would indicate a potential downside of 72.45% from the stock’s previous close.

A number of other research analysts have also recently weighed in on ANRO. William Blair reaffirmed an “outperform” rating on shares of Alto Neuroscience in a research report on Tuesday, September 10th. Robert W. Baird reduced their target price on Alto Neuroscience from $32.00 to $10.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Rodman & Renshaw lowered Alto Neuroscience from a “buy” rating to a “neutral” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $24.40.

Alto Neuroscience Price Performance

NYSE:ANRO opened at $14.52 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 19.85 and a current ratio of 19.85. Alto Neuroscience has a twelve month low of $7.91 and a twelve month high of $24.00. The firm has a 50-day moving average price of $12.33 and a two-hundred day moving average price of $12.54.

Alto Neuroscience (NYSE:ANRO) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.60) EPS for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.07. Analysts expect that Alto Neuroscience will post -2.63 earnings per share for the current fiscal year.

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 stock. University of Texas Texas AM Investment Managment Co. bought a new position in Alto Neuroscience during the first quarter valued at approximately $340,000. Jennison Associates LLC bought a new stake in Alto Neuroscience during the 1st quarter valued at approximately $7,039,000. Vanguard Group Inc. acquired a new position in shares of Alto Neuroscience during the first quarter worth approximately $8,233,000. Price T Rowe Associates Inc. MD acquired a new stake in Alto Neuroscience in the 1st quarter worth $9,788,000. Finally, AWM Investment Company Inc. bought a new position in Alto Neuroscience during the first quarter valued at about $4,592,000.

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.