Alto Neuroscience (NYSE:ANRO) Stock Gets Price Target Bump from HC Wainwright

Key Points

• HC Wainwright raised Alto Neuroscience’s price target to $60 from $55 and maintained a “buy” rating, implying 162.63% upside from the stock’s reported $22.85 price.
• Analyst sentiment is broadly positive, with eight Buy, two Hold, and one Sell ratings; MarketBeat reports a consensus “Moderate Buy” rating and an average price target of $37.88.
• Alto reported a quarterly loss of $0.65 per share, beating estimates of $0.73, while CFO Nicholas Smith sold 24,056 shares at an average price of $25.82, reducing his ownership by half.

Alto Neuroscience (NYSE:ANRO - Get Free Report) had its price objective raised by HC Wainwright from $55.00 to $60.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. HC Wainwright's price objective indicates a potential upside of 162.63% from the stock's current price.

A number of other research firms have also commented on ANRO. Weiss Ratings restated a "sell (d-)" rating on shares of Alto Neuroscience in a research note on Wednesday, July 29th. Wedbush upped their target price on Alto Neuroscience from $24.00 to $26.00 and gave the company a "neutral" rating in a research report on Thursday, August 13th. Wall Street Zen downgraded Alto Neuroscience from a "hold" rating to a "sell" rating in a research report on Saturday, September 12th. BTIG Research increased their target price on Alto Neuroscience from $28.00 to $37.00 and gave the stock a "buy" rating in a report on Thursday, August 13th. Finally, Zacks Research upgraded Alto Neuroscience from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 20th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $37.88.

Alto Neuroscience Stock Performance

Shares of Alto Neuroscience stock traded up $0.91 during trading on Monday, hitting $22.85. 50,790 shares of the stock were exchanged, compared to its average volume of 419,281. Alto Neuroscience has a 1-year low of $6.72 and a 1-year high of $37.48. The stock has a market capitalization of $896.48 million, a price-to-earnings ratio of -9.46 and a beta of 1.31. The company has a fifty day moving average price of $30.17 and a 200-day moving average price of $26.31. The company has a current ratio of 14.85, a quick ratio of 14.85 and a debt-to-equity ratio of 0.07.

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

Insider Buying and Selling at Alto Neuroscience

In other news, CFO Nicholas Smith sold 24,056 shares of the stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $25.82, for a total value of $621,125.92. Following the completion of the sale, the chief financial officer owned 24,060 shares of the company's stock, valued at approximately $621,229.20. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 11.25% of the company's stock.

Institutional Investors Weigh In On Alto Neuroscience

Institutional investors and hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC increased its stake in shares of Alto Neuroscience by 48,581.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 5,355 shares of the company's stock valued at $137,000 after acquiring an additional 5,344 shares in the last quarter. GK Wealth Management LLC acquired a new position in shares of Alto Neuroscience during the 2nd quarter valued at $226,000. Revisor Wealth Management LLC acquired a new position in shares of Alto Neuroscience during the 1st quarter valued at $385,000. The Manufacturers Life Insurance Company bought a new position in Alto Neuroscience during the first quarter worth $534,000. Finally, Y Intercept Hong Kong Ltd bought a new position in Alto Neuroscience during the first quarter worth $538,000.

Alto Neuroscience Company Profile

Alto Neuroscience, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for patients with psychiatric and neurological disorders. The company seeks to use neuroscience, digital health tools and biological and behavioral biomarkers to identify patient subgroups that may respond to specific treatments.

Alto's pipeline has included investigational therapies for major depressive disorder and other central nervous system conditions. Its development programs are designed to address limitations of conventional psychiatric treatment by matching therapies to patient characteristics and measuring treatment response through objective data.

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