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

Alto Neuroscience, Inc. (NYSE:ANRO) was the recipient of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 5,350,000 shares, an increase of 29.9% from the September 30th total of 4,120,000 shares. Approximately 24.1% of the shares of the company are sold short. Based on an average daily volume of 656,800 shares, the days-to-cover ratio is currently 8.1 days.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ANRO. Rodman & Renshaw lowered shares of Alto Neuroscience from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 23rd. RODMAN&RENSHAW downgraded shares of Alto Neuroscience from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Robert W. Baird reduced their target price on shares of Alto Neuroscience from $32.00 to $10.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Wedbush lowered Alto Neuroscience from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $29.00 to $4.00 in a research note on Wednesday, October 23rd. Finally, William Blair reiterated an “outperform” rating on shares of Alto Neuroscience in a research report on Tuesday, September 10th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.40.

Institutional Trading of Alto Neuroscience

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. bought a new position in Alto Neuroscience in the first quarter valued at approximately $8,233,000. Price T Rowe Associates Inc. MD bought a new position in Alto Neuroscience in the first quarter valued at approximately $9,788,000. Jennison Associates LLC bought a new position in Alto Neuroscience in the first quarter valued at approximately $7,039,000. Bowie Capital Management LLC bought a new position in Alto Neuroscience in the second quarter valued at approximately $462,000. Finally, TD Asset Management Inc bought a new position in Alto Neuroscience in the second quarter valued at approximately $928,000.

Alto Neuroscience Stock Up 5.8 %

Shares of Alto Neuroscience stock opened at $4.37 on Monday. 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 1-year low of $3.93 and a 1-year high of $24.00. The firm’s 50-day moving average price is $12.02 and its two-hundred day moving average price is $12.33.

Alto Neuroscience (NYSE:ANRO) last issued its quarterly earnings data 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.