Alto Neuroscience (NYSE:ANRO) Receives Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Alto Neuroscience (NYSE:ANRO) in a research report released on Thursday,Benzinga reports. The firm currently has a $10.00 price target on the stock.

Other equities analysts have also recently issued reports about the company. William Blair restated an “outperform” rating on shares of Alto Neuroscience in a report on Friday, March 21st. Wedbush reiterated a “neutral” rating and issued a $4.00 price objective on shares of Alto Neuroscience in a research note on Thursday, May 15th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $8.50.

Alto Neuroscience Price Performance

ANRO stock opened at $2.31 on Thursday. The company has a quick ratio of 22.53, a current ratio of 22.53 and a debt-to-equity ratio of 0.15. The firm has a market cap of $62.40 million, a price-to-earnings ratio of -0.99 and a beta of 1.93. The company’s fifty day simple moving average is $2.47 and its 200 day simple moving average is $3.10. Alto Neuroscience has a 12-month low of $1.60 and a 12-month high of $17.55.

Alto Neuroscience (NYSE:ANRO) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.53) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.06. On average, analysts expect that Alto Neuroscience will post -2.54 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its holdings in shares of Alto Neuroscience by 63.7% during the fourth quarter. Bank of America Corp DE now owns 56,532 shares of the company’s stock valued at $239,000 after acquiring an additional 22,007 shares in the last quarter. Northern Trust Corp increased its stake in Alto Neuroscience by 198.1% during the 4th quarter. Northern Trust Corp now owns 587,135 shares of the company’s stock valued at $2,484,000 after purchasing an additional 390,190 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Alto Neuroscience by 885.4% during the fourth quarter. BNP Paribas Financial Markets now owns 42,520 shares of the company’s stock worth $180,000 after buying an additional 38,205 shares during the last quarter. Cantor Fitzgerald L. P. bought a new position in shares of Alto Neuroscience in the fourth quarter valued at $1,575,000. Finally, Jane Street Group LLC grew its holdings in shares of Alto Neuroscience by 72.0% during the fourth quarter. Jane Street Group LLC now owns 18,600 shares of the company’s stock valued at $79,000 after buying an additional 7,783 shares during the last quarter.

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.