Alto Neuroscience (NYSE:ANRO) Earns Buy Rating from Analysts at Chardan Capital

Key Points

• Chardan Capital has initiated coverage for Alto Neuroscience (NYSE:ANRO), assigning a "buy" rating with a price target of $15.00, suggesting a potential upside of 279.75% from its previous close.
• HC Wainwright also reaffirmed a "buy" rating for Alto Neuroscience along with a lower price target of $10.00, contributing to a consensus rating of "Moderate Buy".
• Alto Neuroscience reported a quarterly loss of ($0.65) EPS, missing the consensus estimate and has an average price target of $9.80 among analysts.

Equities researchers at Chardan Capital started coverage on shares of Alto Neuroscience (NYSE:ANRO - Get Free Report) in a research report issued on Monday,Benzinga reports. The brokerage set a "buy" rating and a $15.00 price target on the stock. Chardan Capital's price target points to a potential upside of 279.75% from the stock's previous close.

Separately, HC Wainwright reaffirmed a "buy" rating and set a $10.00 price target on shares of Alto Neuroscience in a research note on Monday, August 18th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Alto Neuroscience has an average rating of "Moderate Buy" and a consensus price target of $9.80.

Alto Neuroscience Trading Up 3.9%

NYSE:ANRO opened at $3.95 on Monday. The company has a market capitalization of $106.97 million, a PE ratio of -1.65 and a beta of 1.89. The company has a quick ratio of 18.43, a current ratio of 18.43 and a debt-to-equity ratio of 0.18. Alto Neuroscience has a 52-week low of $1.60 and a 52-week high of $15.04. The stock has a fifty day simple moving average of $3.50 and a 200-day simple moving average of $2.81.

Alto Neuroscience (NYSE:ANRO - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.08). On average, equities research analysts expect that Alto Neuroscience will post -2.54 earnings per share for the current fiscal year.

Institutional Trading of Alto Neuroscience

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ANRO. Bank of Montreal Can purchased a new stake in Alto Neuroscience in the 2nd quarter valued at about $25,000. Ground Swell Capital LLC acquired a new position in shares of Alto Neuroscience in the 2nd quarter valued at about $27,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Alto Neuroscience in the 2nd quarter valued at about $33,000. AlphaCore Capital LLC lifted its stake in shares of Alto Neuroscience by 100.0% in the 2nd quarter. AlphaCore Capital LLC now owns 20,000 shares of the company's stock valued at $44,000 after purchasing an additional 10,000 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new position in shares of Alto Neuroscience in the 1st quarter valued at about $52,000.

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.

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