Alto Neuroscience (NYSE:ANRO) Lowered to “Hold” at RODMAN&RENSHAW

RODMAN&RENSHAW lowered shares of Alto Neuroscience (NYSE:ANRO) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

Other analysts have also issued reports about the company. William Blair reiterated an “outperform” rating on shares of Alto Neuroscience in a report on Tuesday, September 10th. Robert W. Baird cut their target price on shares of Alto Neuroscience from $32.00 to $10.00 and set an “outperform” rating for the company in a research report on Wednesday. Rodman & Renshaw cut shares of Alto Neuroscience from a “buy” rating to a “neutral” rating in a report on Wednesday. Finally, Wedbush lowered Alto Neuroscience from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $29.00 to $4.00 in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.40.

Alto Neuroscience Price Performance

Shares of NYSE ANRO opened at $4.36 on Wednesday. Alto Neuroscience has a 12-month low of $4.26 and a 12-month high of $24.00. The stock has a 50 day simple moving average of $12.22 and a 200-day simple moving average of $12.48. The company has a current ratio of 19.85, a quick ratio of 19.85 and a debt-to-equity ratio of 0.04.

Alto Neuroscience (NYSE:ANRO) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.60) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.07. On average, equities analysts expect that Alto Neuroscience will post -2.63 earnings per share for the current year.

Hedge Funds Weigh In On Alto Neuroscience

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. acquired a new position in shares of Alto Neuroscience in the first quarter valued at $8,233,000. Price T Rowe Associates Inc. MD acquired a new position in shares of Alto Neuroscience in the 1st quarter valued at $9,788,000. Jennison Associates LLC bought a new position in shares of Alto Neuroscience during the 1st quarter worth about $7,039,000. Bowie Capital Management LLC acquired a new stake in shares of Alto Neuroscience during the 2nd quarter valued at about $462,000. Finally, TD Asset Management Inc bought a new stake in Alto Neuroscience in the second quarter valued at about $928,000.

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.