RODMAN&RENSHAW Lowers Alto Neuroscience (NYSE:ANRO) to Hold

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

A number of other equities research analysts have also recently weighed in on ANRO. Robert W. Baird lowered their price target on Alto Neuroscience from $32.00 to $10.00 and set an "outperform" rating on the stock in a report on Wednesday. Rodman & Renshaw downgraded shares of Alto Neuroscience from a "buy" rating to a "neutral" rating in a research note on Wednesday. William Blair restated an "outperform" rating on shares of Alto Neuroscience in a research report on Tuesday, September 10th. Finally, Wedbush downgraded Alto Neuroscience from an "outperform" rating to a "neutral" rating and cut their price target for the company from $29.00 to $4.00 in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $24.40.

Alto Neuroscience Price Performance

Alto Neuroscience stock traded down $0.23 during midday trading on Wednesday, hitting $4.13. 2,815,741 shares of the company's stock were exchanged, compared to its average volume of 349,374. 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 has a 12-month low of $4.04 and a 12-month high of $24.00. The firm's 50 day simple moving average is $12.12 and its 200 day simple moving average is $12.43.

Alto Neuroscience (NYSE:ANRO - Get Free Report) last issued its earnings results on Tuesday, August 13th. The company reported ($0.60) earnings per share for the quarter, beating the consensus estimate of ($0.67) by $0.07. Equities research analysts forecast that Alto Neuroscience will post -2.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Federated Hermes Inc. lifted its position in Alto Neuroscience by 33.3% during the second 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 in the last quarter. Bowie Capital Management LLC acquired a new stake in Alto Neuroscience in the 2nd quarter valued at $462,000. TD Asset Management Inc purchased a new position in Alto Neuroscience in the second quarter valued at about $928,000. Rhumbline Advisers acquired a new position in shares of Alto Neuroscience during the second quarter worth about $113,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Alto Neuroscience during the second quarter worth about $252,000.

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.