Alto Neuroscience, Inc. (NYSE:ANRO) Receives $20.00 Consensus Target Price from Brokerages

Alto Neuroscience, Inc. (NYSE:ANRO) has earned a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $20.00.

A number of research firms recently issued reports on ANRO. Rodman & Renshaw downgraded shares of Alto Neuroscience from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus dropped their target price on Alto Neuroscience from $32.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. RODMAN&RENSHAW downgraded Alto Neuroscience from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Wedbush cut shares of Alto Neuroscience from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $29.00 to $4.00 in a research note on Wednesday, October 23rd. Finally, Robert W. Baird decreased their target price on shares of Alto Neuroscience from $32.00 to $10.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets increased its holdings 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 acquiring an additional 3,715 shares in the last quarter. Rhumbline Advisers grew its position in shares of Alto Neuroscience by 24.4% in the fourth quarter. Rhumbline Advisers now owns 25,556 shares of the company’s stock valued at $108,000 after purchasing an additional 5,008 shares during the period. Jane Street Group LLC purchased a new stake in shares of Alto Neuroscience during the third quarter worth about $124,000. MetLife Investment Management LLC acquired a new position in shares of Alto Neuroscience during the 3rd quarter worth about $146,000. Finally, Bank of New York Mellon Corp lifted its stake 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 in the last quarter.

Alto Neuroscience Trading Up 5.1 %

NYSE ANRO opened at $4.21 on Friday. Alto Neuroscience has a 12-month low of $3.56 and a 12-month high of $21.64. The company has a fifty day simple moving average of $4.23 and a two-hundred day simple moving average of $7.94. The company has a quick ratio of 13.09, a current ratio of 13.10 and a debt-to-equity ratio of 0.05.

Alto Neuroscience (NYSE:ANRO) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.62) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.67) by $0.05. On average, equities research analysts expect that Alto Neuroscience will post -2.54 earnings per share for the current year.

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.