Analysts Set Alto Neuroscience, Inc. (NYSE:ANRO) Target Price at $20.00

Shares of Alto Neuroscience, Inc. (NYSE:ANRO) have received an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $20.00.

Several brokerages recently commented on ANRO. Stifel Nicolaus cut their price target on shares of Alto Neuroscience from $32.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. RODMAN&RENSHAW cut Alto Neuroscience from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Robert W. Baird dropped their price objective on Alto Neuroscience from $32.00 to $10.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Rodman & Renshaw lowered Alto Neuroscience from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Wedbush lowered shares of Alto Neuroscience from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $29.00 to $4.00 in a research note on Wednesday, October 23rd.

Alto Neuroscience Stock Down 1.6 %

Shares of ANRO opened at $4.28 on Tuesday. The company has a quick ratio of 13.09, a current ratio of 13.10 and a debt-to-equity ratio of 0.05. Alto Neuroscience has a 1 year low of $3.56 and a 1 year high of $24.00. The business’s 50 day simple moving average is $4.20 and its 200-day simple moving average is $8.91.

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

Hedge Funds Weigh In On Alto Neuroscience

Several institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in Alto Neuroscience by 543.4% in the third quarter. JPMorgan Chase & Co. now owns 24,315 shares of the company’s stock worth $278,000 after buying an additional 20,536 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Alto Neuroscience by 95.3% in the 3rd quarter. Franklin Resources Inc. now owns 1,220,712 shares of the company’s stock worth $13,965,000 after acquiring an additional 595,673 shares in the last quarter. Barclays PLC lifted its stake in shares of Alto Neuroscience by 872.7% during the 3rd quarter. Barclays PLC now owns 29,599 shares of the company’s stock worth $339,000 after purchasing an additional 26,556 shares during the last quarter. Geode Capital Management LLC boosted its position in Alto Neuroscience by 148.7% during the third quarter. Geode Capital Management LLC now owns 469,988 shares of the company’s stock valued at $5,378,000 after purchasing an additional 281,018 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in Alto Neuroscience in the third quarter valued at about $124,000.

Alto Neuroscience Company 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.