Short Interest in Alto Neuroscience, Inc. (NYSE:ANRO) Declines By 15.0%

Alto Neuroscience, Inc. (NYSE:ANRO) saw a large decrease in short interest in the month of August. As of August 15th, there was short interest totalling 3,120,000 shares, a decrease of 15.0% from the July 31st total of 3,670,000 shares. Based on an average trading volume of 183,000 shares, the short-interest ratio is presently 17.0 days. Currently, 14.1% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ANRO. William Blair reaffirmed an “outperform” rating on shares of Alto Neuroscience in a report on Wednesday, June 12th. Rodman & Renshaw initiated coverage on shares of Alto Neuroscience in a research report on Friday, June 21st. They issued a “buy” rating and a $43.00 price target on the stock. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Alto Neuroscience currently has a consensus rating of “Buy” and a consensus target price of $35.00.

Alto Neuroscience Trading Up 2.5 %

Alto Neuroscience stock traded up $0.31 during midday trading on Monday, reaching $12.81. The stock had a trading volume of 183,600 shares, compared to its average volume of 190,746. The firm’s fifty day simple moving average is $11.72 and its two-hundred day simple moving average is $13.10. 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 has a twelve month low of $7.91 and a twelve month high of $24.00.

Alto Neuroscience (NYSE:ANRO) last issued its earnings results on Tuesday, August 13th. The company reported ($0.60) EPS for the quarter, topping the consensus estimate of ($0.67) by $0.07. As a group, sell-side analysts anticipate that Alto Neuroscience will post -2.64 earnings per share for the current fiscal year.

Insider Transactions at Alto Neuroscience

In other news, insider Adam Savitz purchased 12,069 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was purchased at an average cost of $12.60 per share, with a total value of $152,069.40. Following the purchase, the insider now owns 36,920 shares in the company, valued at approximately $465,192. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Hedge Funds Weigh In On Alto Neuroscience

Several institutional investors and hedge funds have recently bought and sold shares of ANRO. Federated Hermes Inc. lifted its position in shares of Alto Neuroscience by 33.3% in the second quarter. Federated Hermes Inc. now owns 12,000 shares of the company’s stock worth $128,000 after purchasing an additional 3,000 shares in the last quarter. Rhumbline Advisers acquired a new position in Alto Neuroscience in the 2nd quarter valued at approximately $113,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in Alto Neuroscience in the 1st quarter worth approximately $340,000. Bank of New York Mellon Corp acquired a new stake in shares of Alto Neuroscience during the 2nd quarter valued at $252,000. Finally, Bowie Capital Management LLC purchased a new position in shares of Alto Neuroscience during the 2nd quarter valued at $462,000.

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.