Alto Neuroscience (NYSE:ANRO) Reaches New 1-Year High on Analyst Upgrade

Key Points

• Alto Neuroscience shares reached a new 52-week high, trading as high as $34.35 after HC Wainwright raised its price target from $50 to $55 while maintaining a buy rating.
• Analyst sentiment is generally favorable, with eight buy ratings, one hold and two sell ratings; the stock has a “Moderate Buy” consensus and an average price target of $37.25.
• Several institutional investors increased their stakes, while Alto’s latest quarterly loss of $0.65 per share beat consensus expectations of a $0.73 loss.

Alto Neuroscience, Inc. (NYSE:ANRO - Get Free Report) shares hit a new 52-week high on Tuesday after HC Wainwright raised their price target on the stock from $50.00 to $55.00. HC Wainwright currently has a buy rating on the stock. Alto Neuroscience traded as high as $34.35 and last traded at $33.70, with a volume of 863655 shares trading hands. The stock had previously closed at $32.14.

ANRO has been the topic of a number of other reports. Wolfe Research began coverage on Alto Neuroscience in a research note on Friday, May 22nd. They issued an "outperform" rating on the stock. Wedbush upped their price objective on shares of Alto Neuroscience from $24.00 to $26.00 and gave the company a "neutral" rating in a research note on Thursday, August 13th. Chardan Capital reiterated a "buy" rating and set a $30.00 price objective on shares of Alto Neuroscience in a report on Wednesday, April 22nd. Zacks Research cut shares of Alto Neuroscience from a "hold" rating to a "strong sell" rating in a research report on Wednesday, July 22nd. Finally, Bank of America assumed coverage on shares of Alto Neuroscience in a report on Tuesday, May 5th. They issued a "buy" rating and a $35.00 target price for the company. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $37.25.

Institutional Investors Weigh In On Alto Neuroscience

Institutional investors have recently added to or reduced their stakes in the company. Commodore Capital LP raised its holdings in shares of Alto Neuroscience by 49.4% in the 1st quarter. Commodore Capital LP now owns 2,723,196 shares of the company's stock worth $61,217,000 after purchasing an additional 900,000 shares during the period. Vestal Point Capital LP lifted its stake in shares of Alto Neuroscience by 161.6% in the 4th quarter. Vestal Point Capital LP now owns 2,485,000 shares of the company's stock valued at $44,233,000 after purchasing an additional 1,535,000 shares in the last quarter. Perceptive Advisors LLC grew its holdings in shares of Alto Neuroscience by 12.6% during the 1st quarter. Perceptive Advisors LLC now owns 2,009,893 shares of the company's stock worth $45,182,000 after purchasing an additional 225,500 shares during the period. Armistice Capital LLC grew its stake in Alto Neuroscience by 0.7% during the third quarter. Armistice Capital LLC now owns 1,636,000 shares of the company's stock worth $6,577,000 after buying an additional 12,000 shares during the period. Finally, Spruce Street Capital LP increased its holdings in Alto Neuroscience by 494.7% in the 1st quarter. Spruce Street Capital LP now owns 1,325,210 shares of the company's stock valued at $29,116,000 after purchasing an additional 1,102,366 shares in the last quarter.

Alto Neuroscience Trading Up 4.9%

The business has a 50 day moving average price of $26.28 and a 200-day moving average price of $22.91. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of -13.93 and a beta of 1.06. The company has a quick ratio of 14.85, a current ratio of 14.85 and a debt-to-equity ratio of 0.07.

Alto Neuroscience (NYSE:ANRO - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.65) earnings per share for the quarter, topping analysts' consensus estimates of ($0.73) by $0.08. As a group, research analysts expect that Alto Neuroscience, Inc. will post -3 EPS for the current fiscal year.

Alto Neuroscience Company Profile

Alto Neuroscience NYSE: ANRO is a clinical-stage biotechnology company dedicated to advancing precision medicine in neuropsychiatric disorders. The company leverages an integrated digital clinical neuroscience platform that gathers and analyzes multimodal biomarker data—such as electroencephalography (EEG), cognitive assessments and patient-reported outcomes—to predict individual treatment responses. This approach aims to accelerate drug development and improve therapeutic outcomes for conditions like major depressive disorder and treatment-resistant depression.

Alto's proprietary platform combines data science, machine learning and proprietary algorithms to stratify patient populations and identify responders to investigational therapies.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source