Jennison Associates LLC Buys 370,612 Shares of Alto Neuroscience, Inc. (NYSE:ANRO)

Jennison Associates LLC grew its stake in shares of Alto Neuroscience, Inc. (NYSE:ANRO - Free Report) by 80.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 832,290 shares of the company's stock after buying an additional 370,612 shares during the period. Jennison Associates LLC owned approximately 3.09% of Alto Neuroscience worth $9,521,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Federated Hermes Inc. lifted its stake in 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 during the period. Bowie Capital Management LLC bought a new position in shares of Alto Neuroscience during the 2nd quarter worth approximately $462,000. TD Asset Management Inc acquired a new stake in Alto Neuroscience in the 2nd quarter valued at $928,000. Rhumbline Advisers bought a new stake in Alto Neuroscience in the second quarter valued at $113,000. Finally, Bank of New York Mellon Corp acquired a new position in Alto Neuroscience during the second quarter worth $252,000.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ANRO. Rodman & Renshaw lowered shares of Alto Neuroscience from a "buy" rating to a "neutral" rating in a report on Wednesday, October 23rd. Stifel Nicolaus decreased their price objective on shares of Alto Neuroscience from $32.00 to $10.00 and set a "buy" rating on the stock in a research note on Wednesday, November 13th. RODMAN&RENSHAW cut shares of Alto Neuroscience from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, October 23rd. William Blair reissued an "outperform" rating on shares of Alto Neuroscience in a report on Tuesday, September 10th. Finally, Wedbush cut Alto Neuroscience from an "outperform" rating to a "neutral" rating and dropped their price target for the company from $29.00 to $4.00 in a report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $20.00.

Alto Neuroscience Price Performance

ANRO stock traded up $0.22 during trading on Friday, hitting $4.31. The company had a trading volume of 362,322 shares, compared to its average volume of 617,857. The firm has a 50-day moving average price of $8.77 and a 200-day moving average price of $10.97. Alto Neuroscience, Inc. has a 12 month low of $3.61 and a 12 month high of $24.00. The company has a debt-to-equity ratio of 0.05, a quick ratio of 13.09 and a current ratio of 13.10.

Alto Neuroscience (NYSE:ANRO - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported ($0.62) earnings per share for the quarter, topping analysts' consensus estimates of ($0.67) by $0.05. As a group, equities analysts predict that Alto Neuroscience, Inc. will post -2.54 earnings per share for the current fiscal 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.