SCS Capital Management LLC Takes $144,000 Position in Alto Neuroscience, Inc. $ANRO

Key Points

• SCS Capital Management LLC has taken a new position in Alto Neuroscience, Inc. by purchasing 66,777 shares valued at approximately $144,000, representing 0.25% ownership of the company.
• Deutsche Bank AG and other large investors significantly increased their stakes in Alto Neuroscience during the fourth quarter, indicating growing interest in the firm.
• Alto Neuroscience reported ($0.65) earnings per share for the quarter, missing expectations, and analysts predict a current year EPS of -2.54.

SCS Capital Management LLC bought a new stake in Alto Neuroscience, Inc. (NYSE:ANRO - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 66,777 shares of the company's stock, valued at approximately $144,000. SCS Capital Management LLC owned 0.25% of Alto Neuroscience at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in ANRO. AQR Capital Management LLC purchased a new position in Alto Neuroscience during the first quarter worth about $52,000. AWM Investment Company Inc. lifted its stake in shares of Alto Neuroscience by 31.1% in the 1st quarter. AWM Investment Company Inc. now owns 901,984 shares of the company's stock valued at $1,948,000 after acquiring an additional 214,153 shares during the last quarter. Armistice Capital LLC raised its position in Alto Neuroscience by 146.2% during the 1st quarter. Armistice Capital LLC now owns 1,600,000 shares of the company's stock valued at $3,456,000 after purchasing an additional 950,000 shares during the last quarter. Nuveen LLC bought a new position in Alto Neuroscience during the 1st quarter valued at approximately $302,000. Finally, Invesco Ltd. bought a new position in Alto Neuroscience during the 1st quarter valued at approximately $67,000.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a "buy" rating and set a $10.00 target price on shares of Alto Neuroscience in a report on Monday, August 18th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.50.

Alto Neuroscience Stock Up 3.7%

ANRO stock traded up $0.14 during midday trading on Thursday, hitting $3.96. The company's stock had a trading volume of 31,266 shares, compared to its average volume of 241,082. The company has a market cap of $107.24 million, a PE ratio of -1.66 and a beta of 1.91. Alto Neuroscience, Inc. has a 12 month low of $1.60 and a 12 month high of $15.04. The company has a current ratio of 18.43, a quick ratio of 18.43 and a debt-to-equity ratio of 0.18. The firm's 50-day moving average is $3.33 and its 200-day moving average is $2.79.

Alto Neuroscience (NYSE:ANRO - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.08). On average, equities research analysts forecast that Alto Neuroscience, Inc. will post -2.54 earnings per share for the current fiscal year.

Alto Neuroscience Company Profile

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.