Alto Neuroscience (NYSE:ANRO) Shares Up 1.6% – Should You Buy?

Alto Neuroscience, Inc. (NYSE:ANRO)’s share price traded up 1.6% during mid-day trading on Tuesday . The company traded as high as $14.70 and last traded at $14.52. 1,624,103 shares were traded during trading, an increase of 559% from the average session volume of 246,314 shares. The stock had previously closed at $14.29.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Robert W. Baird cut their price target on Alto Neuroscience from $32.00 to $10.00 and set an “outperform” rating on the stock in a report on Wednesday. William Blair reiterated an “outperform” rating on shares of Alto Neuroscience in a research report on Tuesday, September 10th. RODMAN&RENSHAW cut shares of Alto Neuroscience from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Wedbush lowered shares of Alto Neuroscience from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $29.00 to $4.00 in a research report on Wednesday. Finally, Rodman & Renshaw downgraded shares of Alto Neuroscience from a “buy” rating to a “neutral” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.40.

Alto Neuroscience Stock Performance

The company has a quick ratio of 19.85, a current ratio of 19.85 and a debt-to-equity ratio of 0.04. The company’s 50 day moving average price is $12.12 and its 200-day moving average price is $12.43.

Alto Neuroscience (NYSE:ANRO) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.60) EPS for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.07. As a group, research analysts forecast that Alto Neuroscience, Inc. will post -2.63 EPS for the current fiscal year.

Institutional Trading of Alto Neuroscience

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

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.