Alto Neuroscience (NYSE:ANRO) Shares Down 7.2% – What’s Next?

Alto Neuroscience, Inc. (NYSE:ANRO)’s stock price dropped 7.2% during trading on Tuesday. The company traded as low as $22.40 and last traded at $22.4160. 367,786 shares traded hands during trading, a decline of 10% from the average daily volume of 408,330 shares. The stock had previously closed at $24.15.

Analyst Ratings Changes

ANRO has been the subject of several analyst reports. Wall Street Zen cut shares of Alto Neuroscience from a “hold” rating to a “sell” rating in a research report on Saturday, September 12th. BTIG Research boosted their price objective on shares of Alto Neuroscience from $28.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Zacks Research raised shares of Alto Neuroscience from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 20th. Wedbush increased their target price on shares of Alto Neuroscience from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Alto Neuroscience in a report on Wednesday, July 29th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $37.25.

Alto Neuroscience Stock Performance

The company has a quick ratio of 14.85, a current ratio of 14.85 and a debt-to-equity ratio of 0.07. The company has a market cap of $878.78 million, a P/E ratio of -9.24 and a beta of 1.31. The business has a fifty day moving average of $30.67 and a 200 day moving average of $26.26.

Alto Neuroscience (NYSE:ANRO) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.65) EPS for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.08. On average, equities analysts predict that Alto Neuroscience, Inc. will post -2.68 EPS for the current year.

Insider Transactions at Alto Neuroscience

In other Alto Neuroscience news, CFO Nicholas Smith sold 110,830 shares of the company’s stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $26.58, for a total value of $2,945,861.40. Following the completion of the transaction, the chief financial officer directly owned 24,060 shares in the company, valued at approximately $639,514.80. This represents a 82.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 11.25% of the company’s stock.

Institutional Investors Weigh In On Alto Neuroscience

Large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC increased its position in shares of Alto Neuroscience by 48,581.8% during the third quarter. Farther Finance Advisors LLC now owns 5,355 shares of the company’s stock valued at $137,000 after buying an additional 5,344 shares during the period. Wellington Management Group LLP raised its stake in Alto Neuroscience by 18.6% in the second quarter. Wellington Management Group LLP now owns 70,913 shares of the company’s stock worth $1,871,000 after buying an additional 11,114 shares in the last quarter. AWM Investment Company Inc. purchased a new stake in Alto Neuroscience in the second quarter worth about $2,111,000. Bank of New York Mellon Corp purchased a new stake in Alto Neuroscience in the second quarter worth about $2,014,000. Finally, GK Wealth Management LLC purchased a new stake in Alto Neuroscience in the second quarter worth about $226,000.

About Alto Neuroscience

Alto Neuroscience, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for patients with psychiatric and neurological disorders. The company seeks to use neuroscience, digital health tools and biological and behavioral biomarkers to identify patient subgroups that may respond to specific treatments.

Alto’s pipeline has included investigational therapies for major depressive disorder and other central nervous system conditions. Its development programs are designed to address limitations of conventional psychiatric treatment by matching therapies to patient characteristics and measuring treatment response through objective data.