Alto Neuroscience, Inc. (NYSE:ANRO) Stock Has Average Target Price of $37.25 According to Brokerages

Shares of Alto Neuroscience, Inc. (NYSE:ANRO) have been assigned a consensus rating of “Moderate Buy” from the eleven research firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $37.25.

Several research analysts have weighed in on the company. Wedbush upped their price target on Alto Neuroscience from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, August 13th. Zacks Research upgraded shares of Alto Neuroscience from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 20th. HC Wainwright lifted their price objective 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. BTIG Research boosted their target price on shares of Alto Neuroscience from $28.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Alto Neuroscience in a research report on Wednesday, July 29th.

Alto Neuroscience Stock Performance

NYSE:ANRO opened at $21.99 on Friday. The company has a current ratio of 14.85, a quick ratio of 14.85 and a debt-to-equity ratio of 0.07. Alto Neuroscience has a 12-month low of $5.71 and a 12-month high of $37.48. The stock has a 50-day moving average price of $30.17 and a 200 day moving average price of $26.26. The stock has a market capitalization of $863.01 million, a P/E ratio of -9.09 and a beta of 1.31.

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

Insiders Place Their Bets

In other Alto Neuroscience news, CFO Nicholas Smith sold 110,830 shares of Alto Neuroscience stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $26.58, for a total value of $2,945,861.40. Following the sale, the chief financial officer directly owned 24,060 shares in the company, valued at approximately $639,514.80. The trade was a 82.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 11.25% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC boosted its holdings in shares of Alto Neuroscience by 48,581.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 5,355 shares of the company’s stock valued at $137,000 after purchasing an additional 5,344 shares during the last quarter. GK Wealth Management LLC bought a new stake in shares of Alto Neuroscience in the second quarter worth about $226,000. Revisor Wealth Management LLC bought a new stake in shares of Alto Neuroscience in the first quarter worth about $385,000. The Manufacturers Life Insurance Company bought a new stake in shares of Alto Neuroscience in the first quarter worth about $534,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Alto Neuroscience in the first quarter worth about $538,000.

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.