Alto Neuroscience (NYSE:ANRO) Stock Gets Price Target Bump from HC Wainwright

Alto Neuroscience (NYSE:ANRO) had its target price lifted by analysts at HC Wainwright from $55.00 to $60.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 162.63% from the stock’s current price.

ANRO has been the subject of a number of other research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Alto Neuroscience in a research note on Wednesday, July 29th. BTIG Research upped their target price on Alto Neuroscience from $28.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Zacks Research raised Alto Neuroscience from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 20th. Wedbush increased their target price on Alto Neuroscience from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Finally, Wall Street Zen downgraded shares of Alto Neuroscience from a “hold” rating to a “sell” rating in a research report on Saturday, September 12th. Eight 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 company’s stock. According to MarketBeat.com, Alto Neuroscience currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.88.

Alto Neuroscience Stock Up 4.1%

Shares of ANRO traded up $0.91 during trading hours on Monday, hitting $22.85. The stock had a trading volume of 50,790 shares, compared to its average volume of 419,281. 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 firm has a 50 day simple moving average of $30.17 and a 200-day simple moving average of $26.31. The firm has a market capitalization of $896.48 million, a P/E ratio of -9.46 and a beta of 1.31. Alto Neuroscience has a 1-year low of $6.72 and a 1-year high of $37.48.

Alto Neuroscience (NYSE:ANRO) last issued its earnings results on Wednesday, August 12th. The company reported ($0.65) EPS for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.08. Sell-side analysts predict that Alto Neuroscience will post -2.68 EPS for the current fiscal year.

Insider Activity

In related news, CFO Nicholas Smith sold 110,830 shares of the company’s stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $26.58, for a total transaction of $2,945,861.40. Following the completion of the sale, the chief financial officer owned 24,060 shares in the company, valued at approximately $639,514.80. This represents a 82.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 11.25% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alto Neuroscience

Several large investors have recently bought and sold shares of the stock. Spruce Street Capital LP boosted its holdings in Alto Neuroscience by 494.7% during the 1st quarter. Spruce Street Capital LP now owns 1,325,210 shares of the company’s stock worth $29,116,000 after acquiring an additional 1,102,366 shares during the last quarter. Commodore Capital LP grew its stake in shares of Alto Neuroscience by 49.4% in the 1st quarter. Commodore Capital LP now owns 2,723,196 shares of the company’s stock worth $61,217,000 after acquiring an additional 900,000 shares in the last quarter. Affinity Asset Advisors LLC purchased a new stake in shares of Alto Neuroscience in the first quarter valued at about $11,240,000. Jennison Associates LLC purchased a new stake in shares of Alto Neuroscience in the first quarter valued at about $8,687,000. Finally, Perceptive Advisors LLC raised its holdings in shares of Alto Neuroscience by 12.6% in the first quarter. Perceptive Advisors LLC now owns 2,009,893 shares of the company’s stock valued at $45,182,000 after purchasing an additional 225,500 shares during the last quarter.

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.