Alto Neuroscience (NYSE:ANRO) Sees Unusually-High Trading Volume – Should You Buy?

Alto Neuroscience, Inc. (NYSE:ANRO) saw unusually-strong trading volume on Wednesday. 1,292,736 shares traded hands during mid-day trading, an increase of 215% from the previous session’s volume of 410,061 shares. The stock last traded at $21.9150 and had previously closed at $22.09.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Zacks Research upgraded shares of Alto Neuroscience from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 20th. BTIG Research boosted their target price on shares of Alto Neuroscience from $28.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. HC Wainwright increased their target price on Alto Neuroscience from $50.00 to $55.00 and gave the company a “buy” rating in a report on Monday, August 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Alto Neuroscience in a report on Wednesday, July 29th. Finally, Wall Street Zen cut Alto Neuroscience from a “hold” rating to a “sell” rating in a research report on Saturday, September 12th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Alto Neuroscience presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.25.

Alto Neuroscience Stock Up 4.5%

The company has a current ratio of 14.85, a quick ratio of 14.85 and a debt-to-equity ratio of 0.07. The firm’s fifty day moving average is $30.30 and its 200 day moving average is $26.29.

Alto Neuroscience (NYSE:ANRO) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.65) earnings per share for the quarter, beating the consensus estimate of ($0.73) by $0.08. As a group, analysts anticipate that Alto Neuroscience, Inc. will post -2.68 earnings per share for the current year.

Insider Activity

In other Alto Neuroscience news, CFO Nicholas Smith sold 24,056 shares of Alto Neuroscience stock in a transaction on Wednesday, September 30th. The shares were sold at an average price of $25.82, for a total transaction of $621,125.92. Following the completion of the sale, the chief financial officer owned 24,060 shares of the company’s stock, valued at $621,229.20. This trade represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 11.25% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alto Neuroscience

A number of hedge funds have recently modified their holdings of ANRO. Farther Finance Advisors LLC boosted its position in Alto Neuroscience by 48,581.8% during the third quarter. Farther Finance Advisors LLC now owns 5,355 shares of the company’s stock valued at $137,000 after purchasing an additional 5,344 shares during the last quarter. GK Wealth Management LLC purchased a new position in Alto Neuroscience in the second quarter valued at about $226,000. Revisor Wealth Management LLC acquired a new position in Alto Neuroscience in the 1st quarter worth about $385,000. Artia Global Partners LP acquired a new position in Alto Neuroscience in the 4th quarter worth about $520,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Alto Neuroscience in the 1st quarter worth about $534,000.

About Alto Neuroscience

Alto Neuroscience, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for patients with psychiatric and neurological disorders. The company seeks to use neuroscience, digital health tools and biological and behavioral biomarkers to identify patient subgroups that may respond to specific treatments.

Alto’s pipeline has included investigational therapies for major depressive disorder and other central nervous system conditions. Its development programs are designed to address limitations of conventional psychiatric treatment by matching therapies to patient characteristics and measuring treatment response through objective data.