Alto Neuroscience (NYSE:ANRO) Shares Down 5.6% on Insider Selling

Key Points

• Alto Neuroscience shares fell 5.6% to about $23.90 after CFO Nicholas Smith sold a combined 134,886 shares for roughly $3.57 million, substantially reducing his direct ownership.
• Analyst sentiment remains mixed but leans positive: eight analysts rate the stock a Buy, two rate it Hold, and one rates it Sell, producing a “Moderate Buy” consensus and a $37.25 average price target.
• The clinical-stage biopharmaceutical company exceeded quarterly EPS expectations, reporting a loss of $0.65 per share versus the $0.73 consensus estimate; analysts project a full-year loss of $2.68 per share.

Shares of Alto Neuroscience, Inc. (NYSE:ANRO - Get Free Report) fell 5.6% during trading on Friday following insider selling activity. The company traded as low as $24.10 and last traded at $23.9040. 186,488 shares traded hands during trading, a decline of 54% from the average daily volume of 403,587 shares. The stock had previously closed at $25.31.

Specifically, 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 transaction of $2,945,861.40. Following the completion of the transaction, the chief financial officer directly owned 24,060 shares in the company, valued at approximately $639,514.80. This trade represents a 82.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Nicholas Smith sold 24,056 shares of the stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $25.82, for a total transaction of $621,125.92. Following the transaction, the chief financial officer directly owned 24,060 shares in the company, valued at $621,229.20. The trade was a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Wall Street Analysts Forecast Growth

ANRO has been the subject of several analyst reports. Wedbush lifted their price objective on shares of Alto Neuroscience from $24.00 to $26.00 and gave the company a "neutral" rating in a research note on Thursday, August 13th. BTIG Research boosted their price target on Alto Neuroscience from $28.00 to $37.00 and gave the stock a "buy" rating in a research report on Thursday, August 13th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Alto Neuroscience in a report on Wednesday, July 29th. Wall Street Zen lowered Alto Neuroscience from a "hold" rating to a "sell" rating in a research note on Saturday, September 12th. Finally, HC Wainwright raised their target price 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 given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $37.25.

Alto Neuroscience Stock Performance

The firm has a fifty day moving average price of $31.13 and a 200 day moving average price of $26.15. 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 stock has a market cap of $937.44 million, a PE ratio of -9.88 and a beta of 1.32.

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

Hedge Funds Weigh In On Alto Neuroscience

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. GK Wealth Management LLC acquired a new position in Alto Neuroscience during the 2nd quarter worth $226,000. Revisor Wealth Management LLC acquired a new position in Alto Neuroscience during the first quarter worth $385,000. Artia Global Partners LP bought a new position in Alto Neuroscience in the 4th quarter valued at $520,000. The Manufacturers Life Insurance Company acquired a new position in Alto Neuroscience during the first quarter valued at approximately $534,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Alto Neuroscience in the 1st quarter valued at approximately $538,000.

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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