Alto Neuroscience (NYSE:ANRO) Price Target Cut to $10.00 by Analysts at Robert W. Baird

Alto Neuroscience (NYSE:ANRO) had its target price cut by equities research analysts at Robert W. Baird from $32.00 to $10.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price target points to a potential downside of 31.13% from the company’s current price.

A number of other equities analysts also recently issued reports on the stock. William Blair reaffirmed an “outperform” rating on shares of Alto Neuroscience in a report on Tuesday, September 10th. Wedbush reaffirmed an “outperform” rating and set a $29.00 price objective on shares of Alto Neuroscience in a report on Tuesday, September 10th. Finally, Rodman & Renshaw downgraded shares of Alto Neuroscience from a “buy” rating to a “neutral” rating in a report on Wednesday. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Alto Neuroscience currently has an average rating of “Moderate Buy” and a consensus price target of $29.40.

Alto Neuroscience Stock Performance

Shares of ANRO stock opened at $14.52 on Wednesday. The firm has a fifty day simple moving average of $12.33 and a two-hundred day simple moving average of $12.54. The company has a debt-to-equity ratio of 0.04, a quick ratio of 19.85 and a current ratio of 19.85. Alto Neuroscience has a 12 month low of $7.91 and a 12 month high of $24.00.

Alto Neuroscience (NYSE:ANRO) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.60) EPS for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.07. Analysts expect that Alto Neuroscience will post -2.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alto Neuroscience

A number of hedge funds and other institutional investors have recently made changes to their positions in ANRO. Federated Hermes Inc. raised 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 valued at $128,000 after acquiring an additional 3,000 shares during the period. Rhumbline Advisers bought a new stake in Alto Neuroscience in the 2nd quarter valued at about $113,000. University of Texas Texas AM Investment Managment Co. bought a new stake in Alto Neuroscience in the 1st quarter valued at about $340,000. Bank of New York Mellon Corp bought a new stake in Alto Neuroscience in the 2nd quarter valued at about $252,000. Finally, Bowie Capital Management LLC bought a new stake in shares of Alto Neuroscience during the second quarter valued at about $462,000.

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.