Alto Neuroscience, Inc. (NYSE:ANRO) Short Interest Up 29.9% in October

Alto Neuroscience, Inc. (NYSE:ANRO) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 5,350,000 shares, a growth of 29.9% from the September 30th total of 4,120,000 shares. Currently, 24.1% of the company’s shares are sold short. Based on an average trading volume of 656,800 shares, the days-to-cover ratio is currently 8.1 days.

Alto Neuroscience Stock Performance

ANRO stock opened at $4.01 on Wednesday. The company has a quick ratio of 19.85, a current ratio of 19.85 and a debt-to-equity ratio of 0.04. The business has a 50 day moving average of $11.78 and a 200 day moving average of $12.19. Alto Neuroscience has a twelve month low of $3.93 and a twelve month high of $24.00.

Alto Neuroscience (NYSE:ANRO) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.67) by $0.07. Analysts predict that Alto Neuroscience will post -2.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Federated Hermes Inc. lifted its position in Alto Neuroscience by 33.3% in the 2nd quarter. Federated Hermes Inc. now owns 12,000 shares of the company’s stock valued at $128,000 after acquiring an additional 3,000 shares in the last quarter. Bowie Capital Management LLC bought a new position in shares of Alto Neuroscience during the second quarter valued at $462,000. TD Asset Management Inc bought a new stake in Alto Neuroscience in the 2nd quarter worth about $928,000. Rhumbline Advisers purchased a new position in Alto Neuroscience in the 2nd quarter worth about $113,000. Finally, Bank of New York Mellon Corp bought a new position in Alto Neuroscience during the 2nd quarter valued at about $252,000.

Analyst Upgrades and Downgrades

ANRO has been the topic of a number of research analyst reports. William Blair reissued an “outperform” rating on shares of Alto Neuroscience in a research report on Tuesday, September 10th. Rodman & Renshaw lowered shares of Alto Neuroscience from a “buy” rating to a “neutral” rating in a report on Wednesday, October 23rd. Robert W. Baird reduced their target price on Alto Neuroscience from $32.00 to $10.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. RODMAN&RENSHAW lowered Alto Neuroscience from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Finally, Wedbush cut Alto Neuroscience from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $29.00 to $4.00 in a research note on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.40.

Alto Neuroscience Company Profile

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.