Alto Neuroscience (NYSE:ANRO) Stock Price Up 3.8% - Here's Why

Alto Neuroscience, Inc. (NYSE:ANRO - Get Free Report)'s share price shot up 3.8% on Tuesday . The stock traded as high as $2.87 and last traded at $2.84. 82,462 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 408,231 shares. The stock had previously closed at $2.73.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ANRO. HC Wainwright reiterated a "buy" rating and issued a $10.00 price objective on shares of Alto Neuroscience in a research note on Thursday, June 26th. Wedbush reiterated a "neutral" rating and issued a $4.00 price objective on shares of Alto Neuroscience in a research note on Thursday, May 15th. Three investment 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 presently has a consensus rating of "Moderate Buy" and an average target price of $8.50.

Alto Neuroscience Price Performance

The company has a quick ratio of 22.53, a current ratio of 22.53 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $83.38 million, a P/E ratio of -1.32 and a beta of 1.65. The company's 50-day simple moving average is $2.59 and its 200 day simple moving average is $2.89.

Alto Neuroscience (NYSE:ANRO - Get Free Report) last posted its earnings results on Tuesday, May 13th. The company reported ($0.53) EPS for the quarter, topping the consensus estimate of ($0.59) by $0.06. As a group, sell-side analysts expect that Alto Neuroscience, Inc. will post -2.54 earnings per share for the current fiscal year.

Institutional Trading of Alto Neuroscience

Several large investors have recently modified their holdings of ANRO. Armistice Capital LLC increased its stake in Alto Neuroscience by 146.2% during the first quarter. Armistice Capital LLC now owns 1,600,000 shares of the company's stock valued at $3,456,000 after acquiring an additional 950,000 shares during the period. Marshall Wace LLP acquired a new position in shares of Alto Neuroscience in the 4th quarter valued at $3,542,000. Point72 Asset Management L.P. raised its stake in shares of Alto Neuroscience by 73.1% in the 4th quarter. Point72 Asset Management L.P. now owns 1,692,153 shares of the company's stock valued at $7,158,000 after buying an additional 714,461 shares in the last quarter. Woodline Partners LP raised its stake in shares of Alto Neuroscience by 397.6% in the 4th quarter. Woodline Partners LP now owns 621,976 shares of the company's stock valued at $2,631,000 after buying an additional 496,976 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Alto Neuroscience by 198.1% in the 4th quarter. Northern Trust Corp now owns 587,135 shares of the company's stock valued at $2,484,000 after buying an additional 390,190 shares in the last quarter.

About Alto Neuroscience

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.