Alto Neuroscience (NYSE:ANRO – Get Free Report) was downgraded by equities researchers at Wedbush from an “outperform” rating to a “neutral” rating in a report released on Wednesday, Briefing.com reports. They presently have a $4.00 target price on the stock, down from their prior target price of $29.00. Wedbush’s price target indicates a potential downside of 72.45% from the stock’s previous close.
A number of other equities analysts also recently issued reports on ANRO. Rodman & Renshaw downgraded shares of Alto Neuroscience from a “buy” rating to a “neutral” rating in a research note on Wednesday. William Blair reaffirmed an “outperform” rating on shares of Alto Neuroscience in a research report on Tuesday, September 10th. Finally, Robert W. Baird dropped their price target on Alto Neuroscience from $32.00 to $10.00 and set an “outperform” rating on the stock in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Alto Neuroscience has an average rating of “Moderate Buy” and a consensus price target of $24.40.
Read Our Latest Stock Report on ANRO
Alto Neuroscience Stock Performance
Alto Neuroscience (NYSE:ANRO – Get Free Report) last announced its earnings results on Tuesday, August 13th. The company reported ($0.60) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.67) by $0.07. As a group, equities research analysts predict that Alto Neuroscience will post -2.63 EPS for the current fiscal year.
Hedge Funds Weigh In On Alto Neuroscience
Large investors have recently made changes to their positions in the stock. Federated Hermes Inc. lifted its position in shares of Alto Neuroscience by 33.3% during 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. Bowie Capital Management LLC purchased a new stake in Alto Neuroscience during the second quarter worth approximately $462,000. TD Asset Management Inc acquired a new position in shares of Alto Neuroscience in the 2nd quarter valued at $928,000. Rhumbline Advisers purchased a new position in shares of Alto Neuroscience during the second quarter worth about $113,000. Finally, Bank of New York Mellon Corp purchased a new position in Alto Neuroscience during the 2nd quarter worth approximately $252,000.
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.
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