Alto Neuroscience, Inc. (NYSE:ANRO) Sees Significant Drop in Short Interest

Alto Neuroscience, Inc. (NYSE:ANRO - Get Free Report) saw a large decline in short interest in November. As of November 30th, there was short interest totalling 4,080,000 shares, a decline of 12.4% from the November 15th total of 4,660,000 shares. Currently, 18.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 777,200 shares, the short-interest ratio is currently 5.2 days.

Analyst Upgrades and Downgrades

ANRO has been the topic of a number of recent research reports. Rodman & Renshaw lowered Alto Neuroscience from a "buy" rating to a "neutral" rating in a research note on Wednesday, October 23rd. RODMAN&RENSHAW downgraded shares of Alto Neuroscience from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, October 23rd. Robert W. Baird decreased their target price on Alto Neuroscience from $32.00 to $10.00 and set an "outperform" rating for the company in a research report on Wednesday, October 23rd. Wedbush cut Alto Neuroscience from an "outperform" rating to a "neutral" rating and cut their target price for the stock from $29.00 to $4.00 in a report on Wednesday, October 23rd. Finally, William Blair reaffirmed an "outperform" rating on shares of Alto Neuroscience in a research note on Tuesday, September 10th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Alto Neuroscience currently has an average rating of "Moderate Buy" and an average price target of $20.00.

Alto Neuroscience Stock Performance

Shares of ANRO stock remained flat at $3.83 on Friday. 319,008 shares of the stock traded hands, compared to its average volume of 371,370. The company has a debt-to-equity ratio of 0.05, a current ratio of 13.10 and a quick ratio of 13.09. The company's 50-day moving average is $6.36 and its 200 day moving average is $9.99. Alto Neuroscience has a 52 week low of $3.61 and a 52 week high of $24.00.

Alto Neuroscience (NYSE:ANRO - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.62) EPS for the quarter, beating the consensus estimate of ($0.67) by $0.05. Equities research analysts forecast that Alto Neuroscience will post -2.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp bought a new position in shares of Alto Neuroscience during the 2nd quarter valued at approximately $252,000. Rhumbline Advisers bought a new position in Alto Neuroscience during the second quarter valued at $113,000. TD Asset Management Inc purchased a new stake in Alto Neuroscience in the second quarter worth $928,000. Bowie Capital Management LLC bought a new stake in shares of Alto Neuroscience in the second quarter valued at $462,000. Finally, Federated Hermes Inc. lifted its position in shares of Alto Neuroscience by 33.3% during the 2nd quarter. Federated Hermes Inc. now owns 12,000 shares of the company's stock valued at $128,000 after buying an additional 3,000 shares during the last quarter.

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.