Alto Neuroscience (NYSE:ANRO) Share Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Alto Neuroscience, Inc. (NYSE:ANRO) passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $24.32 and traded as high as $25.45. Alto Neuroscience shares last traded at $25.1850, with a volume of 616,285 shares trading hands.

Analyst Ratings Changes

ANRO has been the topic of a number of research reports. Wedbush increased their target price on shares of Alto Neuroscience from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. BTIG Research boosted their price target on shares of Alto Neuroscience from $28.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Wall Street Zen downgraded shares of Alto Neuroscience from a “hold” rating to a “sell” rating in a research note on Saturday, September 12th. HC Wainwright upped their price objective on Alto Neuroscience from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, October 19th. Finally, Zacks Research upgraded Alto Neuroscience from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 20th. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $37.88.

Alto Neuroscience Stock Performance

The company has a debt-to-equity ratio of 0.07, a current ratio of 14.85 and a quick ratio of 14.85. The company has a market capitalization of $988.31 million, a price-to-earnings ratio of -10.41 and a beta of 1.42. The stock has a 50 day simple moving average of $26.99 and a two-hundred day simple moving average of $24.32.

Alto Neuroscience (NYSE:ANRO) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.65) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.08. As a group, analysts anticipate that Alto Neuroscience, Inc. will post -2.69 earnings per share for the current year.

Insider Buying and Selling at Alto Neuroscience

In related news, CFO Nicholas Smith sold 24,056 shares of the business’s stock in a transaction that occurred on Wednesday, September 30th. The stock was 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 in the company, valued at $621,229.20. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 11.25% of the company’s stock.

Hedge Funds Weigh In On Alto Neuroscience

Several hedge funds have recently added to or reduced their stakes in the stock. Alps Advisors Inc. raised its stake in Alto Neuroscience by 45.9% during the 3rd quarter. Alps Advisors Inc. now owns 51,971 shares of the company’s stock worth $1,327,000 after acquiring an additional 16,358 shares in the last quarter. Profund Advisors LLC lifted its position in Alto Neuroscience by 379.1% in the third quarter. Profund Advisors LLC now owns 37,885 shares of the company’s stock valued at $967,000 after acquiring an additional 29,977 shares during the last quarter. Sterling Capital Management LLC boosted its stake in Alto Neuroscience by 1,045.7% in the third quarter. Sterling Capital Management LLC now owns 1,054 shares of the company’s stock valued at $27,000 after acquiring an additional 962 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Alto Neuroscience by 48,581.8% in the third quarter. Farther Finance Advisors LLC now owns 5,355 shares of the company’s stock valued at $137,000 after acquiring an additional 5,344 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Alto Neuroscience by 18.6% in the second quarter. Wellington Management Group LLP now owns 70,913 shares of the company’s stock valued at $1,871,000 after acquiring an additional 11,114 shares in the last quarter.

Alto Neuroscience Company Profile

Alto Neuroscience, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for patients with psychiatric and central nervous system disorders. The company combines neuroscience research, clinical data and biomarker-based approaches to identify patients who may be more likely to respond to specific treatments.

Alto Neuroscience’s investigational pipeline includes therapies intended to address conditions such as major depressive disorder, bipolar depression, schizophrenia and associated cognitive impairment.