Alto Neuroscience (NYSE:ANRO) Shares Gap Up – What’s Next?

Alto Neuroscience, Inc. (NYSE:ANRO)’s share price gapped up before the market opened on Monday. The stock had previously closed at $21.87, but opened at $25.82. Alto Neuroscience shares last traded at $26.9530, with a volume of 73,040 shares.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Zacks Research raised Alto Neuroscience from a “strong sell” rating to a “hold” rating in a report on Thursday, August 20th. Wedbush raised their price objective on shares of Alto Neuroscience from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, August 13th. Wall Street Zen lowered shares of Alto Neuroscience from a “hold” rating to a “sell” rating in a report on Saturday, September 12th. HC Wainwright lifted their target price on shares of Alto Neuroscience from $55.00 to $60.00 and gave the company a “buy” rating in a report on Monday, October 19th. Finally, BTIG Research boosted their target price on shares of Alto Neuroscience from $28.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $37.88.

Alto Neuroscience Stock Performance

The company has a debt-to-equity ratio of 0.07, a quick ratio of 14.85 and a current ratio of 14.85. The firm has a market capitalization of $1.14 billion, a PE ratio of -12.21 and a beta of 1.42. The firm’s 50 day moving average price is $26.99 and its 200-day moving average price is $24.32.

Alto Neuroscience (NYSE:ANRO) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.65) earnings per share for the quarter, beating the consensus estimate of ($0.73) by $0.08. On average, research analysts expect that Alto Neuroscience, Inc. will post -2.69 EPS for the current year.

Insider Transactions at Alto Neuroscience

In other Alto Neuroscience news, CFO Nicholas Smith sold 110,830 shares of the firm’s stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $26.58, for a total value of $2,945,861.40. Following the sale, the chief financial officer directly owned 24,060 shares of the company’s stock, valued at approximately $639,514.80. This trade represents a 82.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 11.25% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ANRO. Commodore Capital LP lifted its position in shares of Alto Neuroscience by 49.4% during the 1st quarter. Commodore Capital LP now owns 2,723,196 shares of the company’s stock valued at $61,217,000 after buying an additional 900,000 shares in the last quarter. Perceptive Advisors LLC raised its position in shares of Alto Neuroscience by 12.6% in the first quarter. Perceptive Advisors LLC now owns 2,009,893 shares of the company’s stock valued at $45,182,000 after buying an additional 225,500 shares during the last quarter. Spruce Street Capital LP lifted its stake in Alto Neuroscience by 494.7% in the 1st quarter. Spruce Street Capital LP now owns 1,325,210 shares of the company’s stock worth $29,116,000 after purchasing an additional 1,102,366 shares in the last quarter. Affinity Asset Advisors LLC purchased a new position in Alto Neuroscience during the first quarter worth approximately $11,240,000. Finally, Jennison Associates LLC acquired a new position in shares of Alto Neuroscience during the 1st quarter valued at about $8,687,000.

Alto Neuroscience Company Profile

Alto Neuroscience, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for patients with psychiatric and central nervous system disorders. The company combines neuroscience research, clinical data and biomarker-based approaches to identify patients who may be more likely to respond to specific treatments.

Alto Neuroscience’s investigational pipeline includes therapies intended to address conditions such as major depressive disorder, bipolar depression, schizophrenia and associated cognitive impairment.