Alto Neuroscience (NYSE:ANRO) Sets New 12-Month High – Here’s Why

Alto Neuroscience, Inc. (NYSE:ANRO)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $16.50 and last traded at $16.5940, with a volume of 196662 shares trading hands. The stock had previously closed at $15.13.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. HC Wainwright raised their price target on Alto Neuroscience from $10.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, October 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alto Neuroscience in a research report on Wednesday, October 8th. Chardan Capital raised shares of Alto Neuroscience to a “strong-buy” rating in a research note on Wednesday, November 19th. Wall Street Zen raised shares of Alto Neuroscience from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Finally, Jefferies Financial Group lifted their price target on shares of Alto Neuroscience from $15.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Alto Neuroscience currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.83.

Alto Neuroscience Stock Performance

The stock has a market cap of $559.20 million, a PE ratio of -7.86 and a beta of 2.95. 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 stock has a 50-day simple moving average of $12.04 and a 200-day simple moving average of $6.33.

Alto Neuroscience (NYSE:ANRO) last issued its earnings results on Wednesday, November 12th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.66) by $0.14. Equities analysts predict that Alto Neuroscience, Inc. will post -2.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alto Neuroscience

Hedge funds and other institutional investors have recently made changes to their positions in the business. Invesco Ltd. purchased a new stake in Alto Neuroscience during the 1st quarter worth $67,000. Nuveen LLC purchased a new position in Alto Neuroscience in the first quarter valued at about $302,000. Armistice Capital LLC lifted its stake in shares of Alto Neuroscience by 146.2% during the first quarter. Armistice Capital LLC now owns 1,600,000 shares of the company’s stock worth $3,456,000 after purchasing an additional 950,000 shares in the last quarter. AWM Investment Company Inc. boosted its position in shares of Alto Neuroscience by 31.1% in the first 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, AQR Capital Management LLC purchased a new stake in shares of Alto Neuroscience in the first quarter worth about $52,000.

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.