Alto Neuroscience (NYSE:ANRO) Shares Gap Down After Analyst Downgrade

Key Points

• Alto Neuroscience (NYSE:ANRO) shares gapped down—opening at $20 after Wedbush lowered its price target from $22 to $21 and kept a neutral rating; the stock had closed at $23.41 and was last trading around $21.46, down roughly 7.6%.
• Analyst coverage is mixed but tilted positive: five Buys, one Hold and one Sell give a consensus “Moderate Buy” with a consensus target of $34.17, while individual targets range from a sell to as high as $35.
• Institutional investors have been accumulating shares (notably Perceptive Advisors raised its stake by 1,048.5%), and Alto reported a quarterly EPS beat (–$0.45 vs. –$0.56) despite remaining unprofitable with a market cap of about $690.7M.

Alto Neuroscience, Inc. (NYSE:ANRO - Get Free Report) gapped down prior to trading on Thursday after Wedbush lowered their price target on the stock from $22.00 to $21.00. The stock had previously closed at $23.41, but opened at $20.00. Wedbush currently has a neutral rating on the stock. Alto Neuroscience shares last traded at $21.4550, with a volume of 89,945 shares.

Several other equities research analysts have also recently weighed in on the company. Chardan Capital reissued a "buy" rating and issued a $30.00 price target on shares of Alto Neuroscience in a report on Thursday. Wall Street Zen cut shares of Alto Neuroscience from a "hold" rating to a "sell" rating in a research note on Saturday, March 21st. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Alto Neuroscience in a report on Monday, December 29th. Jefferies Financial Group reiterated a "buy" rating and issued a $35.00 target price on shares of Alto Neuroscience in a research note on Monday, March 16th. Finally, BTIG Research raised their price target on shares of Alto Neuroscience from $27.00 to $28.00 and gave the company a "buy" rating in a report on Tuesday, February 17th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.17.

Institutional Trading of Alto Neuroscience

A number of large investors have recently modified their holdings of ANRO. Perceptive Advisors LLC increased its position in shares of Alto Neuroscience by 1,048.5% in the fourth quarter. Perceptive Advisors LLC now owns 1,784,393 shares of the company's stock worth $31,762,000 after purchasing an additional 1,629,027 shares during the last quarter. 683 Capital Management LLC bought a new stake in Alto Neuroscience during the fourth quarter valued at approximately $1,153,000. Artia Global Partners LP bought a new stake in Alto Neuroscience during the fourth quarter valued at approximately $520,000. Spruce Street Capital LP purchased a new position in Alto Neuroscience in the 4th quarter worth approximately $3,967,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Alto Neuroscience by 14,567.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 212,672 shares of the company's stock worth $3,786,000 after buying an additional 211,222 shares in the last quarter.

Alto Neuroscience Stock Down 7.6%

The stock's fifty day moving average price is $19.09 and its 200 day moving average price is $14.63. The company has a current ratio of 15.69, a quick ratio of 15.69 and a debt-to-equity ratio of 0.12. The stock has a market cap of $690.74 million, a P/E ratio of -9.99 and a beta of 2.52.

Alto Neuroscience (NYSE:ANRO - Get Free Report) last posted its quarterly earnings data on Monday, March 16th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.56) by $0.11. As a group, research analysts forecast that Alto Neuroscience, Inc. will post -2.54 earnings per share for the current fiscal year.

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.

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