Alto Neuroscience, Inc. (NYSE:ANRO) Sees Large Increase in Short Interest

Alto Neuroscience, Inc. (NYSE:ANRO) saw a significant increase in short interest in September. As of September 15th, there was short interest totalling 3,270,000 shares, an increase of 6.9% from the August 31st total of 3,060,000 shares. Approximately 14.7% of the company’s shares are short sold. Based on an average daily volume of 279,600 shares, the days-to-cover ratio is presently 11.7 days.

Insider Buying and Selling

In other news, insider Adam Savitz bought 12,069 shares of the stock in a transaction on Tuesday, July 9th. The stock was acquired at an average cost of $12.60 per share, for a total transaction of $152,069.40. Following the acquisition, the insider now owns 36,920 shares of the company’s stock, valued at $465,192. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Institutional Trading of Alto Neuroscience

Several large investors have recently bought and sold shares of ANRO. Vanguard Group Inc. acquired a new stake in Alto Neuroscience during the 1st quarter worth about $8,233,000. Price T Rowe Associates Inc. MD acquired a new position in Alto Neuroscience in the 1st quarter worth approximately $9,788,000. Jennison Associates LLC purchased a new position in Alto Neuroscience during the 1st quarter worth approximately $7,039,000. Bowie Capital Management LLC purchased a new position in Alto Neuroscience during the 2nd quarter worth approximately $462,000. Finally, TD Asset Management Inc acquired a new stake in Alto Neuroscience during the 2nd quarter valued at approximately $928,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ANRO shares. William Blair reaffirmed an “outperform” rating on shares of Alto Neuroscience in a research report on Tuesday, September 10th. Rodman & Renshaw initiated coverage on Alto Neuroscience in a report on Friday, June 21st. They set a “buy” rating and a $43.00 target price for the company. Finally, Wedbush reiterated an “outperform” rating and issued a $29.00 price target on shares of Alto Neuroscience in a report on Tuesday, September 10th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $33.80.

Alto Neuroscience Price Performance

NYSE ANRO opened at $11.17 on Wednesday. The firm’s fifty day simple moving average is $11.79 and its two-hundred day simple moving average is $12.81. The company has a quick ratio of 19.85, a current ratio of 19.85 and a debt-to-equity ratio of 0.04. Alto Neuroscience has a 12-month low of $7.91 and a 12-month high of $24.00.

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, sell-side analysts expect that Alto Neuroscience will post -2.63 EPS for the current year.

Alto Neuroscience Company Profile

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.