Alto Neuroscience (NYSE:ANRO) Hits New 52-Week High After Analyst Upgrade

Alto Neuroscience, Inc. (NYSE:ANRO) shares hit a new 52-week high during trading on Thursday after Chardan Capital upgraded the stock to a strong-buy rating. The stock traded as high as $16.49 and last traded at $16.2450, with a volume of 54726 shares traded. The stock had previously closed at $15.54.

A number of other research analysts have also commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alto Neuroscience in a report on Wednesday, October 8th. HC Wainwright upped their target price on shares of Alto Neuroscience from $10.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, October 24th. BTIG Research initiated coverage on shares of Alto Neuroscience in a report on Monday, November 17th. They issued a “buy” rating and a $27.00 price target for the company. Jefferies Financial Group raised their price target on shares of Alto Neuroscience from $15.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, November 12th. Finally, Robert W. Baird upped their price objective on shares of Alto Neuroscience from $16.00 to $22.00 and gave the company an “outperform” rating in a research report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Alto Neuroscience presently has an average rating of “Moderate Buy” and an average target price of $23.83.

Institutional Investors Weigh In On Alto Neuroscience

Institutional investors and hedge funds have recently bought and sold shares of the business. Armistice Capital LLC lifted its holdings in shares of Alto Neuroscience by 0.7% during the 3rd quarter. Armistice Capital LLC now owns 1,636,000 shares of the company’s stock worth $6,577,000 after acquiring an additional 12,000 shares during the period. Vanguard Group Inc. raised its position in Alto Neuroscience by 1.9% in the third quarter. Vanguard Group Inc. now owns 1,105,407 shares of the company’s stock worth $4,444,000 after purchasing an additional 20,702 shares in the last quarter. Marshall Wace LLP lifted its stake in Alto Neuroscience by 9.9% during the second quarter. Marshall Wace LLP now owns 937,407 shares of the company’s stock worth $2,062,000 after purchasing an additional 84,417 shares during the period. AWM Investment Company Inc. lifted its stake in Alto Neuroscience by 31.1% during the first quarter. AWM Investment Company Inc. now owns 901,984 shares of the company’s stock worth $1,948,000 after purchasing an additional 214,153 shares during the period. Finally, Millennium Management LLC boosted its holdings in Alto Neuroscience by 4.3% during the third quarter. Millennium Management LLC now owns 315,758 shares of the company’s stock valued at $1,269,000 after purchasing an additional 12,896 shares in the last quarter.

Alto Neuroscience Stock Performance

The company has a market capitalization of $416.34 million, a P/E ratio of -5.85 and a beta of 2.90. The firm has a 50 day moving average price of $8.77 and a two-hundred day moving average price of $4.93. The company has a debt-to-equity ratio of 0.20, a quick ratio of 15.42 and a current ratio of 15.42.

Alto Neuroscience (NYSE:ANRO) last posted its earnings results on Wednesday, November 12th. The company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.66) by $0.14. On average, research analysts expect that Alto Neuroscience, Inc. will post -2.54 earnings per share for the current fiscal year.

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.