RODMAN&RENSHAW Lowers Alto Neuroscience (NYSE:ANRO) to Hold

RODMAN&RENSHAW downgraded shares of Alto Neuroscience (NYSE:ANRO) from a strong-buy rating to a hold rating in a report issued on Wednesday morning, Zacks.com reports.

Other equities analysts also recently issued research reports about the company. Wedbush downgraded Alto Neuroscience from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $29.00 to $4.00 in a research report on Wednesday. Rodman & Renshaw lowered Alto Neuroscience from a “buy” rating to a “neutral” rating in a research report on Wednesday. William Blair restated an “outperform” rating on shares of Alto Neuroscience in a research report on Tuesday, September 10th. Finally, Robert W. Baird decreased their price target on Alto Neuroscience from $32.00 to $10.00 and set an “outperform” rating on the stock in a report on Wednesday. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Alto Neuroscience currently has an average rating of “Moderate Buy” and a consensus target price of $24.40.

Alto Neuroscience Trading Down 70.0 %

Shares of NYSE:ANRO opened at $4.36 on Wednesday. The company’s fifty day moving average is $12.22 and its 200-day moving average is $12.48. 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 52 week low of $4.26 and a 52 week high of $24.00.

Alto Neuroscience (NYSE:ANRO) last issued its quarterly earnings data 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. On average, equities analysts forecast that Alto Neuroscience will post -2.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Alto Neuroscience

A number of institutional investors have recently made changes to their positions in the stock. RA Capital Management L.P. bought a new position in Alto Neuroscience during the first quarter worth about $21,267,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Alto Neuroscience in the 1st quarter valued at approximately $9,788,000. Vanguard Group Inc. bought a new position in Alto Neuroscience during the 1st quarter worth approximately $8,233,000. Jennison Associates LLC acquired a new position in Alto Neuroscience during the first quarter valued at approximately $7,039,000. Finally, Artal Group S.A. bought a new stake in Alto Neuroscience in the first quarter valued at approximately $5,372,000.

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.