Short Interest in Alto Neuroscience, Inc. (NYSE:ANRO) Grows By 29.9%

Alto Neuroscience, Inc. (NYSE:ANRO) was the target of a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 5,350,000 shares, a growth of 29.9% from the September 30th total of 4,120,000 shares. Currently, 24.1% of the company’s shares are sold short. Based on an average daily volume of 656,800 shares, the short-interest ratio is currently 8.1 days.

Wall Street Analyst Weigh In

ANRO has been the subject of a number of recent analyst reports. Wedbush downgraded Alto Neuroscience from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $29.00 to $4.00 in a report on Wednesday, October 23rd. Robert W. Baird cut their price target on shares of Alto Neuroscience from $32.00 to $10.00 and set an “outperform” rating on the stock 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 report on Wednesday, October 23rd. RODMAN&RENSHAW downgraded shares of Alto Neuroscience from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Finally, William Blair reissued an “outperform” rating on shares of Alto Neuroscience in a research report on Tuesday, September 10th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.40.

Institutional Trading of Alto Neuroscience

Hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers bought a new position in shares of Alto Neuroscience during the second quarter worth about $113,000. Federated Hermes Inc. boosted its position 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. Bank of New York Mellon Corp bought a new position in shares of Alto Neuroscience during the 2nd quarter worth approximately $252,000. Bowie Capital Management LLC acquired a new stake in shares of Alto Neuroscience in the second quarter valued at approximately $462,000. Finally, Zimmer Partners LP bought a new stake in shares of Alto Neuroscience in the first quarter worth $1,151,000.

Alto Neuroscience Price Performance

Shares of ANRO stock opened at $4.01 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 19.85 and a current ratio of 19.85. Alto Neuroscience has a 52 week low of $3.93 and a 52 week high of $24.00. The company’s 50 day moving average price is $11.78 and its two-hundred day moving average price is $12.19.

Alto Neuroscience (NYSE:ANRO) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.60) EPS for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.07. Equities research analysts forecast that Alto Neuroscience will post -2.63 earnings per share for the current year.

Alto Neuroscience Company 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.