Alto Neuroscience (NYSE:ANRO) Lowered to “Neutral” at Wedbush

Wedbush downgraded shares of Alto Neuroscience (NYSE:ANRO) from an outperform rating to a neutral rating in a research report sent to investors on Wednesday, MarketBeat Ratings reports. Wedbush currently has $4.00 target price on the stock, down from their previous target price of $29.00.

ANRO has been the topic of several other reports. Robert W. Baird decreased their target price on shares of Alto Neuroscience from $32.00 to $10.00 and set an “outperform” rating on the stock in a research report on Wednesday. William Blair reiterated an “outperform” rating on shares of Alto Neuroscience in a report on Tuesday, September 10th. Finally, Rodman & Renshaw downgraded Alto Neuroscience from a “buy” rating to a “neutral” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.40.

Alto Neuroscience Price Performance

Shares of ANRO opened at $4.36 on Wednesday. Alto Neuroscience has a fifty-two week low of $4.26 and a fifty-two week high of $24.00. The stock has a fifty day moving average of $12.22 and a two-hundred day moving average of $12.48. The company has a current ratio of 19.85, a quick ratio of 19.85 and a debt-to-equity ratio of 0.04.

Alto Neuroscience (NYSE:ANRO) last released its earnings results on Tuesday, August 13th. The company reported ($0.60) earnings per share for the quarter, topping the consensus estimate of ($0.67) by $0.07. Equities research analysts forecast that Alto Neuroscience will post -2.63 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. RA Capital Management L.P. acquired a new stake in Alto Neuroscience in the first quarter valued at approximately $21,267,000. Price T Rowe Associates Inc. MD purchased a new position in shares of Alto Neuroscience in the first quarter valued at $9,788,000. Vanguard Group Inc. purchased a new position in shares of Alto Neuroscience in the first quarter valued at $8,233,000. Jennison Associates LLC acquired a new stake in Alto Neuroscience during the 1st quarter valued at $7,039,000. Finally, Artal Group S.A. purchased a new stake in Alto Neuroscience during the 1st quarter worth $5,372,000.

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.