Alto Neuroscience (NYSE:ANRO) Hits New 12-Month High – Time to Buy?

Alto Neuroscience, Inc. (NYSE:ANRO) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $16.49 and last traded at $16.2450, with a volume of 54726 shares trading hands. The stock had previously closed at $15.54.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Alto Neuroscience from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alto Neuroscience in a research note on Wednesday, October 8th. BTIG Research assumed coverage on Alto Neuroscience in a research note on Monday. They issued a “buy” rating and a $27.00 target price on the stock. HC Wainwright raised their price target on Alto Neuroscience from $10.00 to $50.00 and gave the company a “buy” rating in a report on Friday, October 24th. Finally, Chardan Capital assumed coverage on shares of Alto Neuroscience in a research note on Monday, September 29th. They issued a “buy” rating and a $15.00 price target on the stock. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Alto Neuroscience currently has a consensus rating of “Moderate Buy” and an average price target of $23.83.

Alto Neuroscience Price Performance

The company has a debt-to-equity ratio of 0.20, a current ratio of 15.42 and a quick ratio of 15.42. The business’s 50 day moving average price is $8.37 and its 200 day moving average price is $4.79. The stock has a market capitalization of $501.78 million, a P/E ratio of -7.01 and a beta of 2.90.

Alto Neuroscience (NYSE:ANRO) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.66) by $0.14. Sell-side analysts forecast that Alto Neuroscience, Inc. will post -2.54 EPS for the current year.

Institutional Investors Weigh In On Alto Neuroscience

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ANRO. Bank of Montreal Can purchased a new stake in Alto Neuroscience during the 2nd quarter valued at $25,000. Ground Swell Capital LLC bought a new stake in shares of Alto Neuroscience in the 2nd quarter worth about $27,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Alto Neuroscience during the 2nd quarter worth about $33,000. AlphaCore Capital LLC grew its holdings in Alto Neuroscience by 100.0% during the 2nd quarter. AlphaCore Capital LLC now owns 20,000 shares of the company’s stock valued at $44,000 after purchasing an additional 10,000 shares during the last quarter. Finally, AQR Capital Management LLC purchased a new stake in Alto Neuroscience in the 1st quarter worth about $52,000.

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.