Alto Neuroscience (NYSE:ANRO) Stock Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Alto Neuroscience shares crossed above their 200-day moving average of $24.32, trading as high as $25.45 and last quoted at $25.185.
• Analyst views are mixed, but the consensus is “Moderate Buy” from 11 analysts, with an average price target of $37.88.
• The company reported a quarterly loss of $0.65 per share, beating estimates of a $0.73 loss; meanwhile, CFO Nicholas Smith sold 24,056 shares, cutting his direct stake by 50%.

Alto Neuroscience, Inc. (NYSE:ANRO - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $24.32 and traded as high as $25.45. Alto Neuroscience shares last traded at $25.1850, with a volume of 616,285 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wall Street Zen lowered shares of Alto Neuroscience from a "hold" rating to a "sell" rating in a research report on Saturday, September 12th. Zacks Research upgraded Alto Neuroscience from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 20th. Wedbush lifted their price target on shares of Alto Neuroscience from $24.00 to $26.00 and gave the stock a "neutral" rating in a research note on Thursday, August 13th. HC Wainwright lifted their target price on shares of Alto Neuroscience from $55.00 to $60.00 and gave the company a "buy" rating in a report on Monday, October 19th. Finally, BTIG Research boosted their price target on shares of Alto Neuroscience from $28.00 to $37.00 and gave the company a "buy" rating in a research 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 assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $37.88.

Alto Neuroscience Stock Up 15.2%

The company's fifty day moving average price is $26.99 and its 200-day moving average price is $24.32. The stock has a market cap of $988.26 million, a P/E ratio of -10.41 and a beta of 1.42. The company has a debt-to-equity ratio of 0.07, a quick ratio of 14.85 and a current ratio of 14.85.

Alto Neuroscience (NYSE:ANRO - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.65) EPS for the quarter, topping the consensus estimate of ($0.73) by $0.08. Equities analysts forecast that Alto Neuroscience, Inc. will post -2.69 EPS for the current year.

Insider Activity at Alto Neuroscience

In other Alto Neuroscience news, CFO Nicholas Smith sold 24,056 shares of the company's stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $25.82, for a total transaction of $621,125.92. Following the completion of the sale, the chief financial officer directly owned 24,060 shares in the company, valued at $621,229.20. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 11.25% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Alps Advisors Inc. raised its position in Alto Neuroscience by 45.9% in the third quarter. Alps Advisors Inc. now owns 51,971 shares of the company's stock worth $1,327,000 after acquiring an additional 16,358 shares in the last quarter. Profund Advisors LLC raised its stake in Alto Neuroscience by 379.1% during the 3rd quarter. Profund Advisors LLC now owns 37,885 shares of the company's stock worth $967,000 after buying an additional 29,977 shares during the period. Sterling Capital Management LLC lifted its holdings in Alto Neuroscience by 1,045.7% during the third quarter. Sterling Capital Management LLC now owns 1,054 shares of the company's stock valued at $27,000 after purchasing an additional 962 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Alto Neuroscience by 48,581.8% in the third quarter. Farther Finance Advisors LLC now owns 5,355 shares of the company's stock valued at $137,000 after purchasing an additional 5,344 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Alto Neuroscience by 18.6% during the second quarter. Wellington Management Group LLP now owns 70,913 shares of the company's stock valued at $1,871,000 after buying an additional 11,114 shares during the last quarter.

Alto Neuroscience Company Profile

Alto Neuroscience, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for patients with psychiatric and central nervous system disorders. The company combines neuroscience research, clinical data and biomarker-based approaches to identify patients who may be more likely to respond to specific treatments.

Alto Neuroscience's investigational pipeline includes therapies intended to address conditions such as major depressive disorder, bipolar depression, schizophrenia and associated cognitive impairment.

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