Alto Neuroscience (NYSE:ANRO) Announces Quarterly Earnings Results, Misses Expectations By $0.24 EPS

Alto Neuroscience (NYSE:ANRO) issued its earnings results on Wednesday. The company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.24), FiscalAI reports.

Here are the key takeaways from Alto Neuroscience’s conference call:

• Alto emphasized that its lead program ALTO-207 has shown a potentially differentiated efficacy signal in treatment-resistant depression by directly stimulating dopamine receptors, with the company positioning it as a potential best-in-class approach if tolerability issues are solved.
• The company highlighted encouraging data from prior studies, including the PAX-D trial and an earlier phase IIa study, where pramipexole-based treatment showed large effect sizes and durable benefit over time, though nausea and vomiting remained the key limitation.
• Alto said it has launched a 178-patient phase IIb trial of ALTO-207 in Q2, using a fixed-dose combination of pramipexole and ondansetron designed to improve tolerability and enable faster titration, with top-line results expected in the second half of next year.
• Management stated that the company’s current cash runway is expected to fund multiple late-stage programs, including ALTO-207 through a planned phase III path, with cash reportedly lasting through 2029.
• Beyond ALTO-207, Alto pointed to two other biomarker-guided programs, ALTO-300 in depression and ALTO-100 in bipolar depression, as additional near-term clinical catalysts with the potential to address large unmet needs.

Alto Neuroscience Stock Down 6.9%

Shares of NYSE:ANRO traded down $1.69 during trading on Wednesday, hitting $22.94. The stock had a trading volume of 416,747 shares, compared to its average volume of 284,960. Alto Neuroscience has a 12 month low of $2.15 and a 12 month high of $28.44. The company has a market capitalization of $733.00 million, a PE ratio of -10.52 and a beta of 1.62. The firm’s fifty day moving average is $23.13 and its 200 day moving average is $18.38. The company has a quick ratio of 15.69, a current ratio of 15.69 and a debt-to-equity ratio of 0.12.

Analyst Ratings Changes

Several brokerages recently weighed in on ANRO. Bank of America began coverage on Alto Neuroscience in a report on Tuesday, May 5th. They set a “buy” rating and a $35.00 target price for the company. JonesTrading dropped their target price on Alto Neuroscience from $49.00 to $44.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. Robert W. Baird dropped their target price on Alto Neuroscience from $41.00 to $38.00 and set an “outperform” rating for the company in a report on Thursday, April 2nd. Wall Street Zen upgraded Alto Neuroscience from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Jefferies Financial Group restated a “buy” rating and set a $35.00 target price on shares of Alto Neuroscience in a report on Monday, March 16th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $35.13.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. XTX Topco Ltd raised its position in shares of Alto Neuroscience by 32.2% in the 4th quarter. XTX Topco Ltd now owns 20,824 shares of the company’s stock worth $371,000 after acquiring an additional 5,078 shares in the last quarter. Ikarian Capital LLC raised its position in shares of Alto Neuroscience by 368.2% in the 4th quarter. Ikarian Capital LLC now owns 515,000 shares of the company’s stock worth $9,167,000 after acquiring an additional 405,000 shares in the last quarter. Vestal Point Capital LP raised its position in shares of Alto Neuroscience by 161.6% in the 4th quarter. Vestal Point Capital LP now owns 2,485,000 shares of the company’s stock worth $44,233,000 after acquiring an additional 1,535,000 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of Alto Neuroscience in the 4th quarter worth approximately $1,228,000. Finally, Millennium Management LLC raised its position in shares of Alto Neuroscience by 99.5% in the 4th quarter. Millennium Management LLC now owns 629,985 shares of the company’s stock worth $11,214,000 after acquiring an additional 314,227 shares in the last quarter.

About Alto Neuroscience

Alto Neuroscience (NYSE:ANRO) is a clinical-stage biotechnology company dedicated to advancing precision medicine in neuropsychiatric disorders. The company leverages an integrated digital clinical neuroscience platform that gathers and analyzes multimodal biomarker data—such as electroencephalography (EEG), cognitive assessments and patient-reported outcomes—to predict individual treatment responses. This approach aims to accelerate drug development and improve therapeutic outcomes for conditions like major depressive disorder and treatment-resistant depression.

Alto’s proprietary platform combines data science, machine learning and proprietary algorithms to stratify patient populations and identify responders to investigational therapies.