Alto Neuroscience (NYSE:ANRO) Trading Up 7.1% – Time to Buy?

Alto Neuroscience, Inc. (NYSE:ANRO)’s share price was up 7.1% during mid-day trading on Wednesday . The stock traded as high as $18.17 and last traded at $18.3190. Approximately 45,659 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 615,304 shares. The stock had previously closed at $17.10.

Analysts Set New Price Targets

A number of research firms have recently commented on ANRO. HC Wainwright increased their price target on shares of Alto Neuroscience from $10.00 to $50.00 and gave the company a “buy” rating in a report on Friday, October 24th. Jefferies Financial Group upped their target price on shares of Alto Neuroscience from $15.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. BTIG Research started coverage on shares of Alto Neuroscience in a report on Monday, November 17th. They set a “buy” rating and a $27.00 price objective for the company. Wall Street Zen raised Alto Neuroscience from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Finally, Chardan Capital upgraded Alto Neuroscience to a “strong-buy” rating in a research report on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.83.

Alto Neuroscience Price Performance

The firm has a market cap of $557.46 million, a PE ratio of -7.83 and a beta of 2.95. The firm’s fifty day simple moving average is $12.04 and its two-hundred day simple moving average is $6.33. The company has a quick ratio of 15.42, a current ratio of 15.42 and a debt-to-equity ratio of 0.20.

Alto Neuroscience (NYSE:ANRO) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.66) by $0.14. As a group, research analysts expect that Alto Neuroscience, Inc. will post -2.54 EPS for the current year.

Institutional Trading of Alto Neuroscience

Hedge funds have recently made changes to their positions in the business. SCS Capital Management LLC purchased a new position in shares of Alto Neuroscience in the 1st quarter worth approximately $144,000. Nuveen LLC bought a new stake in shares of Alto Neuroscience during the first quarter worth $302,000. Peapod Lane Capital LLC bought a new position in shares of Alto Neuroscience in the second quarter worth about $613,000. AWM Investment Company Inc. increased its stake in Alto Neuroscience by 31.1% in the 1st quarter. AWM Investment Company Inc. now owns 901,984 shares of the company’s stock worth $1,948,000 after buying an additional 214,153 shares during the period. Finally, AlphaCore Capital LLC boosted its position in Alto Neuroscience by 100.0% in the 2nd quarter. AlphaCore Capital LLC now owns 20,000 shares of the company’s stock valued at $44,000 after buying an additional 10,000 shares during the period.

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.