Insider Selling: Alto Neuroscience (NYSE:ANRO) CFO Sells 110,830 Shares of Stock

Alto Neuroscience, Inc. (NYSE:ANRO) CFO Nicholas Smith sold 110,830 shares of the company’s stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $26.58, for a total transaction of $2,945,861.40. Following the transaction, the chief financial officer owned 24,060 shares of the company’s stock, valued at $639,514.80. This represents a 82.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Nicholas Conrad Smith also recently made the following trade(s):

• On Wednesday, September 30th, Nicholas Smith sold 24,056 shares of Alto Neuroscience stock. The stock was sold at an average price of $25.82, for a total transaction of $621,125.92.

Alto Neuroscience Stock Performance

NYSE:ANRO traded down $0.31 during mid-day trading on Thursday, hitting $25.22. The stock had a trading volume of 575,756 shares, compared to its average volume of 585,598. The stock has a market capitalization of $989.48 million, a price-to-earnings ratio of -10.42 and a beta of 1.32. The company has a 50 day simple moving average of $31.13 and a 200-day simple moving average of $26.15. Alto Neuroscience, Inc. has a 52 week low of $4.04 and a 52 week high of $37.48. The company has a current ratio of 14.85, a quick ratio of 14.85 and a debt-to-equity ratio of 0.07.

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

Analysts Set New Price Targets

ANRO has been the subject of a number of recent analyst reports. Zacks Research raised Alto Neuroscience from a “strong sell” rating to a “hold” rating in a report on Thursday, August 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alto Neuroscience in a research note on Wednesday, July 29th. BTIG Research boosted their price target on Alto Neuroscience from $28.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Wedbush increased their price target on Alto Neuroscience from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, August 13th. Finally, HC Wainwright lifted their price objective on shares of Alto Neuroscience from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, August 17th. Eight 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’s stock. According to data from MarketBeat, Alto Neuroscience currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.25.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Quantinno Capital Management LP increased its position in shares of Alto Neuroscience by 1.4% during the 1st quarter. Quantinno Capital Management LP now owns 36,069 shares of the company’s stock valued at $811,000 after purchasing an additional 490 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Alto Neuroscience by 6.3% in the first quarter. Renaissance Technologies LLC now owns 103,499 shares of the company’s stock valued at $2,327,000 after buying an additional 6,100 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Alto Neuroscience by 26.1% in the first quarter. Dimensional Fund Advisors LP now owns 39,324 shares of the company’s stock valued at $884,000 after buying an additional 8,148 shares during the period. GK Wealth Management LLC bought a new position in Alto Neuroscience during the second quarter valued at about $226,000. Finally, Wellington Management Group LLP boosted its stake in Alto Neuroscience by 18.6% during the second quarter. Wellington Management Group LLP now owns 70,913 shares of the company’s stock valued at $1,871,000 after buying an additional 11,114 shares in the last quarter.

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.