Fred Alger Management LLC Raises Stock Holdings in Alto Neuroscience, Inc. (NYSE:ANRO)

Fred Alger Management LLC boosted its holdings in shares of Alto Neuroscience, Inc. (NYSE:ANRO) by 56.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 181,435 shares of the company’s stock after purchasing an additional 65,181 shares during the quarter. Fred Alger Management LLC owned approximately 0.67% of Alto Neuroscience worth $2,076,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ANRO. Vanguard Group Inc. bought a new stake in shares of Alto Neuroscience in the 1st quarter worth about $8,233,000. Price T Rowe Associates Inc. MD bought a new stake in Alto Neuroscience in the first quarter valued at about $9,788,000. Bank of New York Mellon Corp acquired a new stake in Alto Neuroscience during the second quarter valued at approximately $252,000. Rhumbline Advisers bought a new position in Alto Neuroscience during the 2nd quarter worth approximately $113,000. Finally, TD Asset Management Inc bought a new position in Alto Neuroscience during the 2nd quarter worth approximately $928,000.

Alto Neuroscience Stock Up 3.0 %

Shares of ANRO stock opened at $4.41 on Monday. Alto Neuroscience, Inc. has a 1 year low of $3.61 and a 1 year high of $24.00. The company has a current ratio of 13.10, a quick ratio of 13.09 and a debt-to-equity ratio of 0.05. The business’s fifty day moving average is $7.85 and its 200-day moving average is $10.58.

Alto Neuroscience (NYSE:ANRO) last released its earnings results on Tuesday, November 12th. The company reported ($0.62) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.05. Analysts forecast that Alto Neuroscience, Inc. will post -2.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Rodman & Renshaw lowered Alto Neuroscience from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 23rd. RODMAN&RENSHAW lowered shares of Alto Neuroscience from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Wedbush lowered shares of Alto Neuroscience from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $29.00 to $4.00 in a research note on Wednesday, October 23rd. Robert W. Baird decreased their target price on Alto Neuroscience from $32.00 to $10.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Finally, William Blair reaffirmed an “outperform” rating on shares of Alto Neuroscience in a report on Tuesday, September 10th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $20.00.

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.