Alto Neuroscience (NYSE:ANRO) Sees Strong Trading Volume - Still a Buy?

Key Points

• Alto Neuroscience shares rose 4.5% to approximately $34.97, despite mid-day trading volume declining 19% from the prior session.
• Analyst sentiment remains positive overall, with eight Buy, two Hold and one Sell ratings. The stock carries a “Moderate Buy” consensus and an average price target of $37.25, including HC Wainwright’s raised target of $55.
• The clinical-stage biotechnology company beat quarterly earnings expectations, reporting a loss of $0.65 per share versus the forecasted $0.73 loss, though analysts expect a full-year loss of $2.68 per share.

Alto Neuroscience, Inc. (NYSE:ANRO - Get Free Report) saw strong trading volume on Monday . Approximately 303,331 shares changed hands during mid-day trading, a decline of 19% from the previous session's volume of 373,522 shares.The stock last traded at $34.9690 and had previously closed at $34.28.

Analysts Set New Price Targets

ANRO has been the topic of several recent analyst reports. HC Wainwright upped their price objective on shares of Alto Neuroscience from $50.00 to $55.00 and gave the company a "buy" rating in a research note on Monday, August 17th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Alto Neuroscience in a research report on Wednesday, July 29th. Bank of America assumed coverage on Alto Neuroscience in a research note on Tuesday, May 5th. They issued a "buy" rating and a $35.00 price target on the stock. Wedbush increased their price objective on shares of Alto Neuroscience from $24.00 to $26.00 and gave the stock a "neutral" rating in a report on Thursday, August 13th. Finally, Robert W. Baird decreased their target price on shares of Alto Neuroscience from $38.00 to $36.00 and set an "outperform" rating on the stock in a research report on Monday, May 18th. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $37.25.

Alto Neuroscience Trading Up 4.5%

The company has a debt-to-equity ratio of 0.07, a quick ratio of 14.85 and a current ratio of 14.85. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -14.90 and a beta of 1.06. The business has a fifty day moving average price of $27.36 and a 200 day moving average price of $23.45.

Alto Neuroscience (NYSE:ANRO - Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported ($0.65) earnings per share for the quarter, beating analysts' consensus estimates of ($0.73) by $0.08. As a group, equities analysts forecast that Alto Neuroscience, Inc. will post -2.68 earnings per share for the current year.

Hedge Funds Weigh In On Alto Neuroscience

Several hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC acquired a new stake in Alto Neuroscience during the 1st quarter worth approximately $52,000. Torren Management LLC acquired a new position in Alto Neuroscience during the fourth quarter valued at approximately $62,000. Invesco Ltd. purchased a new stake in Alto Neuroscience during the first quarter worth approximately $67,000. Bridgeway Capital Management LLC grew its stake in Alto Neuroscience by 85.9% during the second quarter. Bridgeway Capital Management LLC now owns 54,100 shares of the company's stock worth $119,000 after buying an additional 25,000 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Alto Neuroscience in the fourth quarter worth $198,000.

About Alto Neuroscience

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