Alto Neuroscience (NYSE:ANRO) Stock: Insider Nicholas Conrad Smith Sells 110,830 Shares

Key Points

• CFO Nicholas Conrad Smith sold 110,830 Alto Neuroscience shares at an average price of $26.58, generating approximately $2.95 million. The sale reduced his ownership by 82.16% to 24,060 shares; he also sold another 24,056 shares the following day.
• ANRO shares fell 1.2% to $25.22 during mid-day trading, with the stock trading between a 52-week low of $4.04 and high of $37.48. The company reported a quarterly loss of $0.65 per share, beating analyst expectations of a $0.73 loss.
• Analysts maintain a generally positive outlook, with eight Buy ratings, two Holds, and one Sell, producing a “Moderate Buy” consensus and an average price target of $37.25.

Alto Neuroscience, Inc. (NYSE:ANRO - Get Free Report) CFO Nicholas Smith sold 110,830 shares of the firm's stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $26.58, for a total value of $2,945,861.40. Following the sale, the chief financial officer owned 24,060 shares of the company's stock, valued at $639,514.80. This represents a 82.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, September 30th, Nicholas Smith sold 24,056 shares of Alto Neuroscience stock. The shares were sold at an average price of $25.82, for a total value of $621,125.92.

Alto Neuroscience Stock Down 1.2%

Shares of ANRO stock traded down $0.31 during mid-day trading on Thursday, reaching $25.22. 575,756 shares of the company were exchanged, compared to its average volume of 585,598. Alto Neuroscience, Inc. has a fifty-two week low of $4.04 and a fifty-two week high of $37.48. The company has a debt-to-equity ratio of 0.07, a quick ratio of 14.85 and a current ratio of 14.85. The company has a market capitalization of $989.48 million, a P/E ratio of -10.42 and a beta of 1.32. The business's 50 day simple moving average is $31.13 and its 200 day simple moving average is $26.15.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ANRO shares. Wedbush increased their price target on shares of Alto Neuroscience from $24.00 to $26.00 and gave the stock a "neutral" rating in a research report on Thursday, August 13th. Wall Street Zen cut Alto Neuroscience from a "hold" rating to a "sell" rating in a research note on Saturday, September 12th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Alto Neuroscience in a report on Wednesday, July 29th. HC Wainwright lifted their target price on Alto Neuroscience from $50.00 to $55.00 and gave the stock a "buy" rating in a research report on Monday, August 17th. Finally, BTIG Research boosted their price target on Alto Neuroscience from $28.00 to $37.00 and gave the company a "buy" rating in a report on Thursday, August 13th. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $37.25.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. AWM Investment Company Inc. acquired a new stake in Alto Neuroscience during the second quarter worth about $2,111,000. Jennison Associates LLC bought a new position in Alto Neuroscience in the first quarter worth about $8,687,000. Perceptive Advisors LLC boosted its stake in Alto Neuroscience by 12.6% in the first quarter. Perceptive Advisors LLC now owns 2,009,893 shares of the company's stock valued at $45,182,000 after acquiring an additional 225,500 shares during the period. Orbimed Advisors LLC boosted its stake in Alto Neuroscience by 34.0% in the first quarter. Orbimed Advisors LLC now owns 167,500 shares of the company's stock valued at $3,765,000 after acquiring an additional 42,500 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in shares of Alto Neuroscience during the second quarter valued at approximately $2,014,000.

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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