Alto Neuroscience (NYSE:ANRO) Shares Down 5.6% Following Insider Selling

Alto Neuroscience, Inc. (NYSE:ANRO)’s stock price was down 5.6% during mid-day trading on Friday following insider selling activity. The stock traded as low as $24.10 and last traded at $23.9040. Approximately 186,488 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 403,587 shares. The stock had previously closed at $25.31.

Specifically, CFO Nicholas Smith sold 110,830 shares of the company’s stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $26.58, for a total transaction of $2,945,861.40. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Nicholas Smith sold 24,056 shares of the business’s 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 sale, the chief financial officer directly owned 24,060 shares in the company, valued at $621,229.20. The trade was a 50.00% decrease in their position. The SEC filing for this sale provides additional information.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. BTIG Research boosted their price objective 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. Zacks Research upgraded Alto Neuroscience from a “strong sell” rating to a “hold” rating in a report on Thursday, August 20th. Wedbush lifted their price target on Alto Neuroscience from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, August 13th. Wall Street Zen downgraded Alto Neuroscience from a “hold” rating to a “sell” rating in a research report on Saturday, September 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alto Neuroscience in a research report on Wednesday, July 29th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Alto Neuroscience currently has an average rating of “Moderate Buy” and an average target price of $37.25.

Alto Neuroscience Stock Down 5.6%

The business’s 50 day simple moving average is $31.13 and its 200-day simple moving average is $26.15. The company has a debt-to-equity ratio of 0.07, a quick ratio of 14.85 and a current ratio of 14.85. The company has a market cap of $937.44 million, a price-to-earnings ratio of -9.88 and a beta of 1.32.

Alto Neuroscience (NYSE:ANRO) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.65) EPS for the quarter, beating the consensus estimate of ($0.73) by $0.08. Sell-side analysts expect that Alto Neuroscience, Inc. will post -2.68 earnings per share for the current year.

Hedge Funds Weigh In On Alto Neuroscience

A number of hedge funds have recently made changes to their positions in the stock. Quantinno Capital Management LP lifted its stake in Alto Neuroscience by 1.4% during the 1st quarter. Quantinno Capital Management LP now owns 36,069 shares of the company’s stock valued at $811,000 after acquiring an additional 490 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Alto Neuroscience by 6.3% during the 1st quarter. Renaissance Technologies LLC now owns 103,499 shares of the company’s stock valued at $2,327,000 after acquiring an additional 6,100 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Alto Neuroscience by 26.1% during the first quarter. Dimensional Fund Advisors LP now owns 39,324 shares of the company’s stock valued at $884,000 after buying an additional 8,148 shares during the period. GK Wealth Management LLC bought a new stake in shares of Alto Neuroscience during the 2nd quarter valued at $226,000. Finally, Wellington Management Group LLP raised its holdings in Alto Neuroscience by 18.6% in the second quarter. Wellington Management Group LLP now owns 70,913 shares of the company’s stock worth $1,871,000 after buying an additional 11,114 shares during 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 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.