Alto Neuroscience (NYSE:ANRO) Earns Outperform Rating from Wedbush

Wedbush reaffirmed their outperform rating on shares of Alto Neuroscience (NYSE:ANRO) in a report published on Tuesday, Benzinga reports. The firm currently has a $29.00 price target on the stock.

A number of other analysts also recently issued reports on the company. William Blair reaffirmed an outperform rating on shares of Alto Neuroscience in a report on Wednesday, June 12th. Rodman & Renshaw started coverage on Alto Neuroscience in a research note on Friday, June 21st. They issued a buy rating and a $43.00 price objective for the company. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of Buy and an average target price of $33.80.

Alto Neuroscience Stock Performance

ANRO stock opened at $12.99 on Tuesday. The business’s fifty day moving average price is $12.16 and its 200 day moving average price is $13.04. Alto Neuroscience has a 12-month low of $7.91 and a 12-month high of $24.00. The company has a current ratio of 19.85, a quick ratio of 19.85 and a debt-to-equity ratio of 0.04.

Alto Neuroscience (NYSE:ANRO) last announced its earnings results on Tuesday, August 13th. The company reported ($0.60) earnings per share for the quarter, topping the consensus estimate of ($0.67) by $0.07. On average, equities research analysts expect that Alto Neuroscience will post -2.63 EPS for the current year.

Insiders Place Their Bets

In other Alto Neuroscience news, insider Adam Savitz acquired 12,069 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The shares were purchased at an average price of $12.60 per share, with a total value of $152,069.40. Following the completion of the acquisition, the insider now directly owns 36,920 shares of the company’s stock, valued at approximately $465,192. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Institutional Investors Weigh In On Alto Neuroscience

A number of hedge funds and other institutional investors have recently modified their holdings of ANRO. Federated Hermes Inc. increased its holdings in Alto Neuroscience by 33.3% during the 2nd quarter. Federated Hermes Inc. now owns 12,000 shares of the company’s stock valued at $128,000 after acquiring an additional 3,000 shares in the last quarter. Rhumbline Advisers acquired a new stake in shares of Alto Neuroscience during the second quarter valued at $113,000. University of Texas Texas AM Investment Managment Co. purchased a new position in shares of Alto Neuroscience during the first quarter valued at approximately $340,000. Bank of New York Mellon Corp purchased a new stake in shares of Alto Neuroscience in the second quarter valued at $252,000. Finally, Bowie Capital Management LLC acquired a new position in shares of Alto Neuroscience during the 2nd quarter valued at about $462,000.

About Alto Neuroscience

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.