Alto Neuroscience (NYSE:ANRO) Rating Reiterated by Wedbush

Wedbush reaffirmed their outperform rating on shares of Alto Neuroscience (NYSE:ANRO) in a research note released on Tuesday, Benzinga reports. Wedbush currently has a $29.00 price objective on the stock.

A number of other research analysts also recently weighed in on the stock. William Blair reissued an outperform rating on shares of Alto Neuroscience in a research report on Wednesday, June 12th. Rodman & Renshaw began coverage on Alto Neuroscience in a research report on Friday, June 21st. They issued a buy rating and a $43.00 target price for the company. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of Buy and a consensus price target of $33.80.

Alto Neuroscience Trading Up 4.8 %

Shares of NYSE:ANRO opened at $13.62 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 19.85 and a quick ratio of 19.85. The firm has a 50 day simple moving average of $12.20 and a 200 day simple moving average of $13.03. Alto Neuroscience has a one year low of $7.91 and a one year high of $24.00.

Alto Neuroscience (NYSE:ANRO) last announced its quarterly earnings data 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, research analysts anticipate that Alto Neuroscience will post -2.63 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Adam Savitz acquired 12,069 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The shares were acquired at an average cost of $12.60 per share, with a total value of $152,069.40. Following the acquisition, the insider now directly owns 36,920 shares of the company’s stock, valued at $465,192. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Hedge Funds Weigh In On Alto Neuroscience

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Rhumbline Advisers purchased a new stake in shares of Alto Neuroscience during the 2nd quarter worth $113,000. Federated Hermes Inc. lifted its stake in shares of Alto Neuroscience by 33.3% during the 2nd quarter. Federated Hermes Inc. now owns 12,000 shares of the company’s stock worth $128,000 after purchasing an additional 3,000 shares during the last quarter. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of Alto Neuroscience during the 1st quarter worth $340,000. Bank of New York Mellon Corp purchased a new stake in shares of Alto Neuroscience during the 2nd quarter worth $252,000. Finally, Bowie Capital Management LLC purchased a new stake in shares of Alto Neuroscience during the 2nd quarter worth $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.