Brokerages Set Alto Neuroscience, Inc. (NYSE:ANRO) Price Target at $15.40

Alto Neuroscience, Inc. (NYSE:ANRO - Get Free Report) has been assigned an average rating of "Moderate Buy" from the seven research firms that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $15.40.

Several analysts recently commented on ANRO shares. William Blair reiterated an "outperform" rating on shares of Alto Neuroscience in a research note on Friday, March 21st. HC Wainwright assumed coverage on shares of Alto Neuroscience in a research note on Monday, April 7th. They issued a "buy" rating and a $10.00 price objective for the company. Finally, Wedbush restated a "neutral" rating and set a $4.00 target price on shares of Alto Neuroscience in a research report on Thursday, May 15th.

Hedge Funds Weigh In On Alto Neuroscience

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northern Trust Corp raised its position in shares of Alto Neuroscience by 198.1% in the fourth quarter. Northern Trust Corp now owns 587,135 shares of the company's stock valued at $2,484,000 after buying an additional 390,190 shares during the last quarter. BNP Paribas Financial Markets increased its position in Alto Neuroscience by 885.4% during the fourth quarter. BNP Paribas Financial Markets now owns 42,520 shares of the company's stock worth $180,000 after purchasing an additional 38,205 shares during the last quarter. Cantor Fitzgerald L. P. acquired a new position in Alto Neuroscience during the fourth quarter worth approximately $1,575,000. Rhumbline Advisers increased its position in Alto Neuroscience by 24.4% during the fourth quarter. Rhumbline Advisers now owns 25,556 shares of the company's stock worth $108,000 after purchasing an additional 5,008 shares during the last quarter. Finally, Barclays PLC increased its position in Alto Neuroscience by 34.5% during the fourth quarter. Barclays PLC now owns 39,807 shares of the company's stock worth $168,000 after purchasing an additional 10,208 shares during the last quarter.

Alto Neuroscience Price Performance

Shares of NYSE ANRO traded up $0.19 during midday trading on Wednesday, hitting $2.57. The company had a trading volume of 260,874 shares, compared to its average volume of 392,392. 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 twelve month low of $1.60 and a twelve month high of $17.55. The business has a 50-day simple moving average of $2.38 and a two-hundred day simple moving average of $3.28. The firm has a market capitalization of $69.58 million, a price-to-earnings ratio of -1.10 and a beta of 1.93.

Alto Neuroscience (NYSE:ANRO - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.59) by $0.06. Equities research analysts anticipate that Alto Neuroscience will post -2.54 earnings per share for the current year.

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.