Alto Neuroscience (NYSE:ANRO) Now Covered by HC Wainwright

Equities research analysts at HC Wainwright started coverage on shares of Alto Neuroscience (NYSE:ANRO) in a research report issued to clients and investors on Monday,Benzinga reports. The firm set a “buy” rating and a $10.00 price target on the stock. HC Wainwright’s target price points to a potential upside of 433.62% from the company’s current price.

Separately, William Blair reiterated an “outperform” rating on shares of Alto Neuroscience in a research note on Friday, March 21st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.40.

Alto Neuroscience Stock Performance

Shares of ANRO traded up $0.07 during mid-day trading on Monday, reaching $1.87. The company’s stock had a trading volume of 128,663 shares, compared to its average volume of 364,651. The company has a current ratio of 13.10, a quick ratio of 13.09 and a debt-to-equity ratio of 0.05. Alto Neuroscience has a 1-year low of $1.56 and a 1-year high of $17.55. The business has a 50-day simple moving average of $3.17 and a two-hundred day simple moving average of $5.26. The stock has a market cap of $50.73 million, a P/E ratio of -0.74 and a beta of 2.14.

Alto Neuroscience (NYSE:ANRO) last released its quarterly earnings data on Thursday, March 20th. The company reported ($0.56) EPS for the quarter, beating the consensus estimate of ($0.65) by $0.09. As a group, equities research analysts anticipate that Alto Neuroscience will post -2.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in Alto Neuroscience by 182.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 186,968 shares of the company’s stock valued at $2,139,000 after acquiring an additional 120,779 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Alto Neuroscience by 84.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 65,805 shares of the company’s stock valued at $753,000 after acquiring an additional 30,135 shares during the period. FMR LLC lifted its position in shares of Alto Neuroscience by 1.4% during the third quarter. FMR LLC now owns 2,363,056 shares of the company’s stock worth $27,033,000 after acquiring an additional 32,040 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Alto Neuroscience by 619.2% in the third quarter. BNP Paribas Financial Markets now owns 4,315 shares of the company’s stock worth $49,000 after acquiring an additional 3,715 shares during the period. Finally, MetLife Investment Management LLC bought a new stake in Alto Neuroscience during the third quarter valued at $146,000.

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.