Alto Neuroscience (NYSE:ANRO) Releases Earnings Results, Misses Expectations By $0.24 EPS

Alto Neuroscience (NYSE:ANRO) issued its quarterly earnings results on Wednesday. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.24), FiscalAI reports.

Here are the key takeaways from Alto Neuroscience’s conference call:

• Alto emphasized that its lead program ALTO-207 has shown a potentially differentiated efficacy signal in treatment-resistant depression by directly stimulating dopamine receptors, with the company positioning it as a potential best-in-class approach if tolerability issues are solved.
• The company highlighted encouraging data from prior studies, including the PAX-D trial and an earlier phase IIa study, where pramipexole-based treatment showed large effect sizes and durable benefit over time, though nausea and vomiting remained the key limitation.
• Alto said it has launched a 178-patient phase IIb trial of ALTO-207 in Q2, using a fixed-dose combination of pramipexole and ondansetron designed to improve tolerability and enable faster titration, with top-line results expected in the second half of next year.
• Management stated that the company’s current cash runway is expected to fund multiple late-stage programs, including ALTO-207 through a planned phase III path, with cash reportedly lasting through 2029.
• Beyond ALTO-207, Alto pointed to two other biomarker-guided programs, ALTO-300 in depression and ALTO-100 in bipolar depression, as additional near-term clinical catalysts with the potential to address large unmet needs.

Alto Neuroscience Price Performance

NYSE:ANRO traded down $0.49 during mid-day trading on Friday, reaching $23.10. The stock had a trading volume of 302,540 shares, compared to its average volume of 275,700. The firm has a 50 day moving average price of $23.20 and a two-hundred day moving average price of $18.46. The stock has a market capitalization of $737.98 million, a P/E ratio of -9.55 and a beta of 1.62. Alto Neuroscience has a one year low of $2.15 and a one year high of $28.44. The company has a debt-to-equity ratio of 0.12, a quick ratio of 15.69 and a current ratio of 15.69.

Hedge Funds Weigh In On Alto Neuroscience

A number of large investors have recently bought and sold shares of ANRO. AQR Capital Management LLC purchased a new position in Alto Neuroscience in the 1st quarter worth approximately $52,000. Invesco Ltd. purchased a new position in Alto Neuroscience in the 1st quarter worth approximately $67,000. Bridgeway Capital Management LLC increased its stake in Alto Neuroscience by 85.9% in the 2nd quarter. Bridgeway Capital Management LLC now owns 54,100 shares of the company’s stock worth $119,000 after purchasing an additional 25,000 shares during the period. Balyasny Asset Management L.P. purchased a new position in Alto Neuroscience in the 4th quarter worth approximately $198,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in Alto Neuroscience in the 4th quarter worth approximately $221,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Robert W. Baird decreased their price objective on Alto Neuroscience from $41.00 to $38.00 and set an “outperform” rating on the stock in a report on Thursday, April 2nd. JonesTrading dropped their target price on Alto Neuroscience from $49.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. BTIG Research boosted their target price on Alto Neuroscience from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. Wall Street Zen upgraded Alto Neuroscience from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $35.00 target price on shares of Alto Neuroscience in a research report on Monday, March 16th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $35.50.

About Alto Neuroscience

Alto Neuroscience (NYSE:ANRO) is a clinical-stage biotechnology company dedicated to advancing precision medicine in neuropsychiatric disorders. The company leverages an integrated digital clinical neuroscience platform that gathers and analyzes multimodal biomarker data—such as electroencephalography (EEG), cognitive assessments and patient-reported outcomes—to predict individual treatment responses. This approach aims to accelerate drug development and improve therapeutic outcomes for conditions like major depressive disorder and treatment-resistant depression.

Alto’s proprietary platform combines data science, machine learning and proprietary algorithms to stratify patient populations and identify responders to investigational therapies.