Alto Neuroscience (NYSE:ANRO) Trading 1.8% Higher

Alto Neuroscience, Inc. (NYSE:ANRO)’s share price rose 1.8% during trading on Tuesday . The company traded as high as $14.30 and last traded at $13.88. Approximately 85,381 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 241,218 shares. The stock had previously closed at $13.64.

Analyst Upgrades and Downgrades

ANRO has been the topic of a number of analyst reports. Robert W. Baird initiated coverage on Alto Neuroscience in a research note on Tuesday, February 27th. They issued an “outperform” rating and a $32.00 price target on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $32.00 price target on shares of Alto Neuroscience in a research note on Monday, March 25th. Jefferies Financial Group initiated coverage on Alto Neuroscience in a research note on Tuesday, February 27th. They issued a “buy” rating and a $33.00 price target on the stock. William Blair initiated coverage on Alto Neuroscience in a research note on Tuesday, February 27th. They issued an “outperform” rating on the stock. Finally, TD Cowen assumed coverage on Alto Neuroscience in a research note on Tuesday, February 27th. They issued an “outperform” rating on the stock. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $32.33.

Alto Neuroscience Price Performance

The company has a 50-day moving average of $14.69.

Insider Activity at Alto Neuroscience

In other news, major shareholder Wave Global Lp Alpha purchased 600,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were bought at an average cost of $16.00 per share, for a total transaction of $9,600,000.00. Following the completion of the transaction, the insider now directly owns 3,707,757 shares of the company’s stock, valued at approximately $59,324,112. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Wave Global Lp Alpha acquired 600,000 shares of the stock in a transaction on Tuesday, February 6th. The stock was acquired at an average price of $16.00 per share, for a total transaction of $9,600,000.00. Following the completion of the purchase, the insider now owns 3,707,757 shares of the company’s stock, valued at $59,324,112. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Nicholas Conrad Smith acquired 6,150 shares of the stock in a transaction on Thursday, March 28th. The shares were bought at an average price of $16.36 per share, with a total value of $100,614.00. Following the purchase, the chief financial officer now directly owns 26,866 shares of the company’s stock, valued at approximately $439,527.76. The disclosure for this purchase can be found here.

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.