Alto Neuroscience, Inc. (NYSE:ANRO) Stake Boosted by Fred Alger Management LLC

Fred Alger Management LLC raised its position in shares of Alto Neuroscience, Inc. (NYSE:ANRO) by 56.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 181,435 shares of the company’s stock after buying an additional 65,181 shares during the quarter. Fred Alger Management LLC’s holdings in Alto Neuroscience were worth $2,076,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Federated Hermes Inc. raised its position in Alto Neuroscience by 33.3% during the second quarter. Federated Hermes Inc. now owns 12,000 shares of the company’s stock valued at $128,000 after buying an additional 3,000 shares during the period. BNP Paribas Financial Markets grew its stake in Alto Neuroscience by 619.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,315 shares of the company’s stock valued at $49,000 after acquiring an additional 3,715 shares in the last quarter. Rhumbline Advisers acquired a new position in shares of Alto Neuroscience in the 2nd quarter valued at about $113,000. MetLife Investment Management LLC purchased a new stake in shares of Alto Neuroscience in the third quarter worth approximately $146,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Alto Neuroscience during the second quarter worth approximately $252,000.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ANRO shares. Wedbush lowered shares of Alto Neuroscience from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $29.00 to $4.00 in a research note on Wednesday, October 23rd. Stifel Nicolaus dropped their price target on shares of Alto Neuroscience from $32.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, November 13th. Rodman & Renshaw cut Alto Neuroscience from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 23rd. Robert W. Baird dropped their target price on Alto Neuroscience from $32.00 to $10.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 23rd. Finally, RODMAN&RENSHAW lowered Alto Neuroscience from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Alto Neuroscience presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

Alto Neuroscience Trading Up 3.0 %

Alto Neuroscience stock opened at $4.41 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 13.10 and a quick ratio of 13.09. Alto Neuroscience, Inc. has a fifty-two week low of $3.61 and a fifty-two week high of $24.00. The firm has a fifty day moving average price of $7.85 and a two-hundred day moving average price of $10.58.

Alto Neuroscience (NYSE:ANRO) last announced its earnings results on Tuesday, November 12th. The company reported ($0.62) earnings per share for the quarter, beating the consensus estimate of ($0.67) by $0.05. On average, research analysts anticipate that Alto Neuroscience, Inc. will post -2.54 EPS for the current year.

Alto Neuroscience Profile

Alto Neuroscience, Inc operates as a clinical-stage biopharmaceutical company in the United States. Its product pipeline comprising ALTO-100, which is in phase 2b clinical trial for the treatment of patients with major depressive disorder (MDD); and which is in phase 2a clinical trial for the treatment of post-traumatic stress disorder.