Alto Neuroscience, Inc. (NYSE:ANRO) Stock Has Consensus Price Target of $37.25

Key Points

• Analysts maintain a “Moderate Buy” consensus on Alto Neuroscience, with eight buys, two holds and one sell among 11 analysts. The average 12-month price target is $37.25, versus a recent share price of $21.99.
• CFO Nicholas Smith sold 110,830 shares for approximately $2.95 million, reducing his personal holdings by 82.16%; company insiders collectively own 11.25% of the stock.
• Several institutional investors increased their positions during the first quarter, while Alto reported a quarterly loss of $0.65 per share—better than the $0.73 consensus estimate. Analysts expect a full-year loss of $2.68 per share.

Alto Neuroscience, Inc. (NYSE:ANRO - Get Free Report) has received an average rating of "Moderate Buy" from the eleven analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $37.25.

ANRO has been the topic of several recent research reports. HC Wainwright raised their price objective on Alto Neuroscience from $50.00 to $55.00 and gave the stock a "buy" rating in a research note on Monday, August 17th. Zacks Research raised Alto Neuroscience from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 20th. Wall Street Zen downgraded Alto Neuroscience from a "hold" rating to a "sell" rating in a research note on Saturday, September 12th. Weiss Ratings reissued a "sell (d-)" rating on shares of Alto Neuroscience in a report on Wednesday, July 29th. Finally, Wedbush increased their target price 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.

Insiders Place Their Bets

In other Alto Neuroscience news, CFO Nicholas Smith sold 110,830 shares of Alto Neuroscience stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $26.58, for a total transaction of $2,945,861.40. Following the transaction, the chief financial officer owned 24,060 shares of the company's stock, valued at $639,514.80. The trade was a 82.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 11.25% of the stock is owned by corporate insiders.

Institutional Trading of Alto Neuroscience

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Commodore Capital LP raised its position in shares of Alto Neuroscience by 49.4% during the 1st quarter. Commodore Capital LP now owns 2,723,196 shares of the company's stock valued at $61,217,000 after purchasing an additional 900,000 shares during the period. Perceptive Advisors LLC boosted its holdings in Alto Neuroscience by 12.6% in the 1st quarter. Perceptive Advisors LLC now owns 2,009,893 shares of the company's stock worth $45,182,000 after buying an additional 225,500 shares during the period. Spruce Street Capital LP boosted its holdings in Alto Neuroscience by 494.7% in the 1st quarter. Spruce Street Capital LP now owns 1,325,210 shares of the company's stock worth $29,116,000 after buying an additional 1,102,366 shares during the period. Affinity Asset Advisors LLC bought a new position in Alto Neuroscience in the 1st quarter worth $11,240,000. Finally, Jennison Associates LLC bought a new position in Alto Neuroscience in the 1st quarter worth $8,687,000.

Alto Neuroscience Price Performance

Shares of Alto Neuroscience stock opened at $21.99 on Friday. Alto Neuroscience has a one year low of $5.71 and a one year high of $37.48. The stock's fifty day moving average is $30.17 and its 200 day moving average is $26.26. The stock has a market cap of $863.01 million, a P/E ratio of -9.09 and a beta of 1.31. The company has a debt-to-equity ratio of 0.07, a quick ratio of 14.85 and a current ratio of 14.85.

Alto Neuroscience (NYSE:ANRO - Get Free Report) last released its earnings results 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. Sell-side analysts anticipate that Alto Neuroscience will post -2.68 earnings per share for the current year.

About Alto Neuroscience

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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