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

by · The Cerbat Gem

Alto Neuroscience, Inc. (NYSE:ANRO – Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $17.03, but opened at $16.31. Alto Neuroscience shares last traded at $17.3820, with a volume of 377,278 shares changing hands.

Analyst Upgrades and Downgrades

ANRO has been the topic of a number of research reports. BTIG Research initiated coverage on Alto Neuroscience in a report on Monday, November 17th. They issued a “buy” rating and a $27.00 price objective on the stock. Wall Street Zen upgraded shares of Alto Neuroscience from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Chardan Capital raised shares of Alto Neuroscience to a “strong-buy” rating in a research report on Wednesday, November 19th. Robert W. Baird boosted their price objective on shares of Alto Neuroscience from $16.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, November 13th. Finally, HC Wainwright increased their target price on shares of Alto Neuroscience from $10.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Alto Neuroscience presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.83.

Check Out Our Latest Stock Report on ANRO

Alto Neuroscience Price Performance

The company has a debt-to-equity ratio of 0.20, a quick ratio of 15.42 and a current ratio of 15.42. The company has a market cap of $606.33 million, a price-to-earnings ratio of -8.52 and a beta of 2.95. The business has a fifty day moving average price of $12.56 and a 200 day moving average price of $6.51.

Alto Neuroscience (NYSE:ANRO – Get Free Report) last released its earnings results on Wednesday, November 12th. The company reported ($0.52) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.66) by $0.14. As a group, research analysts anticipate that Alto Neuroscience, Inc. will post -2.54 earnings per share for the current year.

Hedge Funds Weigh In On Alto Neuroscience

Several institutional investors and hedge funds have recently added to or reduced their stakes in ANRO. Armistice Capital LLC grew its stake in shares of Alto Neuroscience by 0.7% during the third quarter. Armistice Capital LLC now owns 1,636,000 shares of the company’s stock worth $6,577,000 after buying an additional 12,000 shares during the last quarter. Susquehanna International Group LLP boosted its holdings in shares of Alto Neuroscience by 154.9% during the 3rd quarter. Susquehanna International Group LLP now owns 155,676 shares of the company’s stock valued at $626,000 after acquiring an additional 94,613 shares in the last quarter. Millennium Management LLC grew its position in Alto Neuroscience by 4.3% during the 3rd quarter. Millennium Management LLC now owns 315,758 shares of the company’s stock worth $1,269,000 after acquiring an additional 12,896 shares during the last quarter. Two Sigma Investments LP increased its holdings in Alto Neuroscience by 160.6% in the 3rd quarter. Two Sigma Investments LP now owns 116,579 shares of the company’s stock worth $469,000 after purchasing an additional 71,844 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised its position in Alto Neuroscience by 43.5% in the third quarter. Bridgeway Capital Management LLC now owns 77,653 shares of the company’s stock valued at $312,000 after purchasing an additional 23,553 shares during the last quarter.

Alto Neuroscience Company Profile

(Get Free Report)

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.

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