Alto Neuroscience (NYSE:ANRO) Releases Earnings Results, Misses Expectations By $0.08 EPS

Key Points

• Alto Neuroscience reported a quarterly loss of ($0.65) earnings per share, missing analysts' expectation of ($0.57) by ($0.08).
• Shares of Alto Neuroscience fell to $3.13 following the earnings report, with a market cap of $84.74 million.
• Analysts have given Alto Neuroscience an average rating of "Moderate Buy" with a target price of $8.50, varying from $4.00 to $10.00 based on different ratings.

Alto Neuroscience (NYSE:ANRO - Get Free Report) posted its quarterly earnings results on Tuesday. The company reported ($0.65) earnings per share for the quarter, missing analysts' consensus estimates of ($0.57) by ($0.08), Zacks reports.

Alto Neuroscience Price Performance

Shares of NYSE:ANRO traded down $0.05 on Wednesday, hitting $3.13. The company had a trading volume of 77,872 shares, compared to its average volume of 267,378. The company has a current ratio of 22.53, a quick ratio of 22.53 and a debt-to-equity ratio of 0.15. Alto Neuroscience has a 52-week low of $1.60 and a 52-week high of $15.04. The business has a 50 day moving average of $2.66 and a 200 day moving average of $2.76. The company has a market cap of $84.74 million, a PE ratio of -1.34 and a beta of 1.84.

Analysts Set New Price Targets

A number of analysts have commented on ANRO shares. Wedbush reiterated a "neutral" rating and set a $4.00 target price on shares of Alto Neuroscience in a research report on Thursday, May 15th. HC Wainwright reiterated a "buy" rating and set a $10.00 target price on shares of Alto Neuroscience in a research report on Thursday, June 26th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $8.50.

Institutional Trading of Alto Neuroscience

Institutional investors and hedge funds have recently made changes to their positions in the stock. Invesco Ltd. acquired a new position in Alto Neuroscience in the first quarter valued at $67,000. AQR Capital Management LLC acquired a new position in Alto Neuroscience in the first quarter valued at $52,000. Finally, Marshall Wace LLP increased its stake in Alto Neuroscience by 9.9% in the second quarter. Marshall Wace LLP now owns 937,407 shares of the company's stock valued at $2,062,000 after purchasing an additional 84,417 shares during the last quarter.

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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