HC Wainwright Reiterates "Buy" Rating for Alto Neuroscience (NYSE:ANRO)

Alto Neuroscience (NYSE:ANRO - Get Free Report)'s stock had its "buy" rating reaffirmed by HC Wainwright in a note issued to investors on Thursday,Benzinga reports. They currently have a $10.00 price objective on the stock. HC Wainwright's price objective suggests a potential upside of 331.03% from the company's previous close.

A number of other research firms also recently weighed in on ANRO. Wedbush restated a "neutral" rating and set a $4.00 price target on shares of Alto Neuroscience in a research note on Thursday, May 15th. William Blair reissued an "outperform" rating on shares of Alto Neuroscience in a report on Friday, March 21st. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Alto Neuroscience presently has an average rating of "Moderate Buy" and a consensus target price of $8.50.

Alto Neuroscience Trading Down 9.7%

Shares of Alto Neuroscience stock traded down $0.25 during trading hours on Thursday, reaching $2.32. The stock had a trading volume of 526,187 shares, compared to its average volume of 400,399. The company has a current ratio of 22.53, a quick ratio of 22.53 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $62.80 million, a price-to-earnings ratio of -0.99 and a beta of 1.93. The firm has a 50 day simple moving average of $2.47 and a two-hundred day simple moving average of $3.11. Alto Neuroscience has a 1 year low of $1.60 and a 1 year high of $17.55.

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

Institutional Investors Weigh In On Alto Neuroscience

A number of hedge funds and other institutional investors have recently modified their holdings of ANRO. Armistice Capital LLC raised its holdings in Alto Neuroscience by 146.2% in the 1st quarter. Armistice Capital LLC now owns 1,600,000 shares of the company's stock worth $3,456,000 after purchasing an additional 950,000 shares in the last quarter. Marshall Wace LLP purchased a new stake in Alto Neuroscience in the 4th quarter worth approximately $3,542,000. Point72 Asset Management L.P. lifted its stake in shares of Alto Neuroscience by 73.1% during 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 Alto Neuroscience by 397.6% during the 4th quarter. Woodline Partners LP now owns 621,976 shares of the company's stock valued at $2,631,000 after purchasing an additional 496,976 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Alto Neuroscience by 198.1% during the fourth quarter. Northern Trust Corp now owns 587,135 shares of the company's stock worth $2,484,000 after acquiring an additional 390,190 shares during the last quarter.

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.

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