Franklin Resources Inc. Acquires 595,673 Shares of Alto Neuroscience, Inc. (NYSE:ANRO)

Franklin Resources Inc. lifted its position in shares of Alto Neuroscience, Inc. (NYSE:ANRO - Free Report) by 95.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,220,712 shares of the company's stock after purchasing an additional 595,673 shares during the period. Franklin Resources Inc. owned about 4.53% of Alto Neuroscience worth $13,965,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Federated Hermes Inc. grew its holdings in Alto Neuroscience by 33.3% during the 2nd quarter. Federated Hermes Inc. now owns 12,000 shares of the company's stock worth $128,000 after acquiring an additional 3,000 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Alto Neuroscience by 619.2% during the third quarter. BNP Paribas Financial Markets now owns 4,315 shares of the company's stock worth $49,000 after purchasing an additional 3,715 shares during the period. Philadelphia Financial Management of San Francisco LLC grew its stake in shares of Alto Neuroscience by 1.5% in the third quarter. Philadelphia Financial Management of San Francisco LLC now owns 449,952 shares of the company's stock worth $5,147,000 after purchasing an additional 6,663 shares during the last quarter. Rhumbline Advisers bought a new stake in shares of Alto Neuroscience in the second quarter worth $113,000. Finally, Jane Street Group LLC bought a new position in Alto Neuroscience during the 3rd quarter worth $124,000.

Wall Street Analyst Weigh In

ANRO has been the topic of a number of analyst reports. Robert W. Baird reduced their price target on Alto Neuroscience from $32.00 to $10.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 23rd. William Blair reissued an "outperform" rating on shares of Alto Neuroscience in a research report on Tuesday, September 10th. RODMAN&RENSHAW downgraded shares of Alto Neuroscience from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, October 23rd. Rodman & Renshaw cut shares of Alto Neuroscience from a "buy" rating to a "neutral" rating in a research report on Wednesday, October 23rd. Finally, 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 investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Alto Neuroscience presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.00.

Alto Neuroscience Price Performance

Shares of Alto Neuroscience stock traded up $0.17 during trading on Friday, reaching $3.89. 461,654 shares of the company traded hands, compared to its average volume of 370,741. Alto Neuroscience, Inc. has a 1-year low of $3.56 and a 1-year high of $24.00. The company has a 50 day moving average price of $5.55 and a 200-day moving average price of $9.71. The company has a quick ratio of 13.09, a current ratio of 13.10 and a debt-to-equity ratio of 0.05.

Alto Neuroscience (NYSE:ANRO - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.62) earnings per share for the quarter, beating the consensus estimate of ($0.67) by $0.05. On average, analysts anticipate that Alto Neuroscience, Inc. will post -2.54 EPS for the current year.

Alto Neuroscience 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.