Alto Neuroscience (NYSE:ANRO) Price Target Cut to $10.00 by Analysts at Robert W. Baird

Alto Neuroscience (NYSE:ANRO) had its price target trimmed by Robert W. Baird from $32.00 to $10.00 in a research note published on Wednesday, Benzinga reports. The firm currently has an outperform rating on the stock.

ANRO has been the subject of several other reports. Rodman & Renshaw cut Alto Neuroscience from a “buy” rating to a “neutral” rating in a research report on Wednesday. William Blair reaffirmed an “outperform” rating on shares of Alto Neuroscience in a report on Tuesday, September 10th. Finally, Wedbush reissued an “outperform” rating and issued a $29.00 price target on shares of Alto Neuroscience in a research note on Tuesday, September 10th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Alto Neuroscience presently has an average rating of “Moderate Buy” and a consensus price target of $24.40.

Alto Neuroscience Stock Performance

Shares of NYSE ANRO opened at $4.36 on Wednesday. The company’s 50-day simple moving average is $12.22 and its 200-day simple moving average is $12.48. The company has a current ratio of 19.85, a quick ratio of 19.85 and a debt-to-equity ratio of 0.04. Alto Neuroscience has a 52-week low of $4.26 and a 52-week high of $24.00.

Alto Neuroscience (NYSE:ANRO) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.67) by $0.07. Sell-side analysts predict that Alto Neuroscience will post -2.63 EPS for the current year.

Hedge Funds Weigh In On Alto Neuroscience

A number of institutional investors have recently bought and sold shares of ANRO. Federated Hermes Inc. lifted its stake in shares of Alto Neuroscience by 33.3% in the 2nd quarter. Federated Hermes Inc. now owns 12,000 shares of the company’s stock valued at $128,000 after purchasing an additional 3,000 shares during the last quarter. Bowie Capital Management LLC purchased a new stake in Alto Neuroscience in the 2nd quarter valued at about $462,000. TD Asset Management Inc acquired a new position in Alto Neuroscience in the second quarter valued at about $928,000. Rhumbline Advisers purchased a new position in Alto Neuroscience during the second quarter worth about $113,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Alto Neuroscience during the second quarter valued at about $252,000.

About Alto Neuroscience

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.