Alto Neuroscience (NYSE:ANRO) CFO Nicholas Conrad Smith Sells 24,056 Shares of Stock

Key Points

• Alto Neuroscience CFO Nicholas Conrad Smith sold 24,056 shares at an average price of $25.82, totaling approximately $621,126. He now owns 24,060 shares, representing a 50% reduction in his holdings.
• Smith also sold 110,830 shares the previous day for approximately $2.95 million, bringing his disclosed sales over the two days to about $3.57 million.
• ANRO recently traded at $25.22, while analysts maintain a Moderate Buy consensus with an average price target of $37.25; the company exceeded quarterly EPS expectations but remains unprofitable.

Alto Neuroscience, Inc. (NYSE:ANRO - Get Free Report) CFO Nicholas Smith sold 24,056 shares of the business's stock in a transaction that occurred on Wednesday, September 30th. The shares were sold at an average price of $25.82, for a total value of $621,125.92. Following the transaction, the chief financial officer owned 24,060 shares of the company's stock, valued at approximately $621,229.20. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Nicholas Conrad Smith also recently made the following trade(s):

• On Tuesday, September 29th, Nicholas Smith sold 110,830 shares of Alto Neuroscience stock. The stock was sold at an average price of $26.58, for a total transaction of $2,945,861.40.

Alto Neuroscience Price Performance

NYSE:ANRO traded down $0.31 during trading hours on Thursday, hitting $25.22. 575,756 shares of the stock traded hands, compared to its average volume of 585,598. The company has a market cap of $989.48 million, a price-to-earnings ratio of -10.42 and a beta of 1.32. Alto Neuroscience, Inc. has a 1 year low of $4.04 and a 1 year high of $37.48. The stock has a 50 day moving average price of $31.13 and a 200 day moving average price of $26.15. The company has a quick ratio of 14.85, a current ratio of 14.85 and a debt-to-equity ratio of 0.07.

Alto Neuroscience (NYSE:ANRO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($0.65) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.73) by $0.08. Sell-side analysts forecast that Alto Neuroscience, Inc. will post -2.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ANRO. GK Wealth Management LLC purchased a new position in shares of Alto Neuroscience in the second quarter valued at $226,000. Revisor Wealth Management LLC purchased a new stake in Alto Neuroscience during the first quarter valued at $385,000. Artia Global Partners LP bought a new position in Alto Neuroscience during the fourth quarter valued at $520,000. The Manufacturers Life Insurance Company bought a new position in Alto Neuroscience during the first quarter valued at $534,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Alto Neuroscience in the 1st quarter worth $538,000.

Analysts Set New Price Targets

ANRO has been the subject of a number of research reports. Wall Street Zen lowered shares of Alto Neuroscience from a "hold" rating to a "sell" rating in a research report on Saturday, September 12th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Alto Neuroscience in a report on Wednesday, July 29th. BTIG Research boosted their price target on shares of Alto Neuroscience from $28.00 to $37.00 and gave the stock a "buy" rating in a research note on Thursday, August 13th. Zacks Research raised shares of Alto Neuroscience from a "strong sell" rating to a "hold" rating in a report on Thursday, August 20th. Finally, HC Wainwright raised their price objective on Alto Neuroscience from $50.00 to $55.00 and gave the company a "buy" rating in a research report on Monday, August 17th. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $37.25.

About Alto Neuroscience

Alto Neuroscience, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for patients with neuropsychiatric disorders. The company combines clinical data, biological measurements and digital assessments to identify patient characteristics that may help predict treatment response and guide the development of more targeted therapies.

Alto's pipeline has included investigational treatments for conditions such as major depressive disorder and schizophrenia.

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