Jennison Associates LLC Acquires 370,612 Shares of Alto Neuroscience, Inc. (NYSE:ANRO)

Jennison Associates LLC lifted its stake in Alto Neuroscience, Inc. (NYSE:ANRO) by 80.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 832,290 shares of the company’s stock after acquiring an additional 370,612 shares during the period. Jennison Associates LLC owned approximately 3.09% of Alto Neuroscience worth $9,521,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Federated Hermes Inc. boosted its stake in Alto Neuroscience by 33.3% in the 2nd quarter. Federated Hermes Inc. now owns 12,000 shares of the company’s stock worth $128,000 after purchasing an additional 3,000 shares during the period. Bowie Capital Management LLC purchased a new stake in shares of Alto Neuroscience in the second quarter worth about $462,000. TD Asset Management Inc bought a new position in shares of Alto Neuroscience in the second quarter valued at approximately $928,000. Rhumbline Advisers bought a new stake in Alto Neuroscience during the 2nd quarter worth approximately $113,000. Finally, Bank of New York Mellon Corp purchased a new stake in Alto Neuroscience in the 2nd quarter worth approximately $252,000.

Alto Neuroscience Trading Up 5.4 %

Shares of ANRO opened at $4.31 on Friday. Alto Neuroscience, Inc. has a 1 year low of $3.61 and a 1 year high of $24.00. The company has a quick ratio of 13.09, a current ratio of 13.10 and a debt-to-equity ratio of 0.05. The stock has a 50 day simple moving average of $8.96 and a two-hundred day simple moving average of $11.04.

Alto Neuroscience (NYSE:ANRO) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.62) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.05. On average, equities analysts anticipate that Alto Neuroscience, Inc. will post -2.54 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. 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 cut Alto Neuroscience from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. William Blair reaffirmed an “outperform” rating on shares of Alto Neuroscience in a report on Tuesday, September 10th. Wedbush cut shares of Alto Neuroscience from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $29.00 to $4.00 in a research report on Wednesday, October 23rd. Finally, Robert W. Baird lowered their target price on shares of Alto Neuroscience from $32.00 to $10.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Alto Neuroscience 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.