Alto Neuroscience (NYSE:ANRO) Stock Falls 8.3% – Here’s Why

Alto Neuroscience, Inc. (NYSE:ANRO) shares were down 8.3% during trading on Wednesday. The company traded as low as $29.02 and last traded at $28.24. Approximately 84,136 shares were traded during trading, a decline of 79% from the average daily volume of 393,136 shares. The stock had previously closed at $30.78.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ANRO. Wall Street Zen cut Alto Neuroscience from a “hold” rating to a “sell” rating in a research note on Saturday, September 12th. HC Wainwright lifted their target price on Alto Neuroscience from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, August 17th. BTIG Research upped their target price on Alto Neuroscience from $28.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Zacks Research raised Alto Neuroscience from a “strong sell” rating to a “hold” rating in a report on Thursday, August 20th. Finally, Wedbush boosted their price target on Alto Neuroscience from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, August 13th. Eight research 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.25.

Alto Neuroscience Stock Performance

The company has a market cap of $1.07 billion, a P/E ratio of -11.23 and a beta of 1.13. 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 stock has a 50 day moving average price of $31.20 and a two-hundred day moving average price of $26.01.

Alto Neuroscience (NYSE:ANRO) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.65) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.73) by $0.08. On average, research analysts predict that Alto Neuroscience, Inc. will post -2.68 earnings per share for the current fiscal year.

Institutional Trading of Alto Neuroscience

A number of institutional investors have recently bought and sold shares of the business. Commodore Capital LP raised its position in shares of Alto Neuroscience by 49.4% in the first quarter. Commodore Capital LP now owns 2,723,196 shares of the company’s stock valued at $61,217,000 after buying an additional 900,000 shares in the last quarter. Perceptive Advisors LLC raised its holdings in Alto Neuroscience by 12.6% in the 1st quarter. Perceptive Advisors LLC now owns 2,009,893 shares of the company’s stock valued at $45,182,000 after acquiring an additional 225,500 shares in the last quarter. Spruce Street Capital LP lifted its position in shares of Alto Neuroscience by 494.7% during the 1st quarter. Spruce Street Capital LP now owns 1,325,210 shares of the company’s stock valued at $29,116,000 after acquiring an additional 1,102,366 shares during the period. Affinity Asset Advisors LLC bought a new position in shares of Alto Neuroscience in the first quarter worth $11,240,000. Finally, Jennison Associates LLC acquired a new position in Alto Neuroscience in the first quarter valued at about $8,687,000.

About Alto Neuroscience

Alto Neuroscience, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for patients with neuropsychiatric disorders. The company combines clinical data, biological measurements and digital assessments to identify patient characteristics that may help predict treatment response and guide the development of more targeted therapies.

Alto’s pipeline has included investigational treatments for conditions such as major depressive disorder and schizophrenia.