Wall Street Zen Downgrades Alto Neuroscience (NYSE:ANRO) to Sell

Alto Neuroscience (NYSE:ANRO) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday, Wall Street Zen reports.

Several other research analysts also recently commented on the company. Wedbush increased their price objective on Alto Neuroscience from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, August 13th. HC Wainwright increased their target price on shares of Alto Neuroscience from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, August 17th. Zacks Research upgraded shares of Alto Neuroscience from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 20th. Robert W. Baird cut their price objective on shares of Alto Neuroscience from $38.00 to $36.00 and set an “outperform” rating for the company in a report on Monday, May 18th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Alto Neuroscience in a report on Wednesday, July 29th. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.25.

Alto Neuroscience Stock Up 0.0%

Shares of NYSE ANRO opened at $32.01 on Friday. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of -13.23 and a beta of 1.13. The company’s 50-day simple moving average is $30.68 and its 200-day simple moving average is $25.38. The company has a quick ratio of 14.85, a current ratio of 14.85 and a debt-to-equity ratio of 0.07. Alto Neuroscience has a 52-week low of $3.59 and a 52-week high of $37.48.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ANRO. Commodore Capital LP raised its holdings 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 valued at $61,217,000 after buying an additional 900,000 shares during the period. Vestal Point Capital LP grew its position in Alto Neuroscience by 161.6% in the 4th quarter. Vestal Point Capital LP now owns 2,485,000 shares of the company’s stock valued at $44,233,000 after acquiring an additional 1,535,000 shares in the last quarter. Perceptive Advisors LLC lifted its position in shares of Alto Neuroscience by 12.6% during the first quarter. Perceptive Advisors LLC now owns 2,009,893 shares of the company’s stock worth $45,182,000 after purchasing an additional 225,500 shares in the last quarter. Armistice Capital LLC boosted its stake in shares of Alto Neuroscience by 0.7% in the third quarter. Armistice Capital LLC now owns 1,636,000 shares of the company’s stock valued at $6,577,000 after purchasing an additional 12,000 shares during the period. Finally, Spruce Street Capital LP increased its stake 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 buying an additional 1,102,366 shares during the period.

About Alto Neuroscience

Alto Neuroscience, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for patients with neuropsychiatric disorders. The company combines clinical data, biological measurements and digital assessments to identify patient characteristics that may help predict treatment response and guide the development of more targeted therapies.

Alto’s pipeline has included investigational treatments for conditions such as major depressive disorder and schizophrenia.