Alto Neuroscience (NYSE:ANRO) Trading Up 8.8% - Still a Buy?

Alto Neuroscience, Inc. (NYSE:ANRO - Get Free Report)'s stock price was up 8.8% on Wednesday . The company traded as high as $3.56 and last traded at $3.39. Approximately 973,685 shares changed hands during trading, an increase of 214% from the average daily volume of 310,576 shares. The stock had previously closed at $3.11.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus dropped their target price on shares of Alto Neuroscience from $32.00 to $10.00 and set a "buy" rating on the stock in a report on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $16.75.

Alto Neuroscience Trading Down 10.3 %

The company has a quick ratio of 13.09, a current ratio of 13.10 and a debt-to-equity ratio of 0.05. The company has a 50-day simple moving average of $3.90 and a two-hundred day simple moving average of $6.72.

Institutional Investors Weigh In On Alto Neuroscience

Several large investors have recently added to or reduced their stakes in ANRO. Wells Fargo & Company MN increased its position in Alto Neuroscience by 40.0% in the fourth quarter. Wells Fargo & Company MN now owns 10,989 shares of the company's stock worth $46,000 after buying an additional 3,139 shares during the period. BNP Paribas Financial Markets increased its position in Alto Neuroscience by 619.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,315 shares of the company's stock valued at $49,000 after acquiring an additional 3,715 shares during the period. Deutsche Bank AG increased its position in Alto Neuroscience by 31.3% in the 4th quarter. Deutsche Bank AG now owns 15,210 shares of the company's stock valued at $64,000 after acquiring an additional 3,629 shares during the period. Skandinaviska Enskilda Banken AB publ acquired a new stake in Alto Neuroscience in the 4th quarter valued at approximately $74,000. Finally, Jane Street Group LLC increased its position in Alto Neuroscience by 72.0% in the 4th quarter. Jane Street Group LLC now owns 18,600 shares of the company's stock valued at $79,000 after acquiring an additional 7,783 shares during the period.

Remove Ads

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.