Alto Neuroscience, Inc.’s (NYSE:ANRO) Lock-Up Period To End on July 31st

Alto Neuroscience’s (NYSE:ANRO) lock-up period is set to expire on Wednesday, July 31st. Alto Neuroscience had issued 8,040,000 shares in its public offering on February 2nd. The total size of the offering was $128,640,000 based on an initial share price of $16.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.

Wall Street Analysts Forecast Growth

ANRO has been the topic of several recent analyst reports. William Blair reaffirmed an “outperform” rating on shares of Alto Neuroscience in a report on Wednesday, June 12th. Rodman & Renshaw assumed coverage on shares of Alto Neuroscience in a research note on Friday, June 21st. They issued a “buy” rating and a $43.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $35.00.

Alto Neuroscience Stock Performance

NYSE ANRO opened at $14.36 on Friday. The company has a current ratio of 26.02, a quick ratio of 26.02 and a debt-to-equity ratio of 0.05. The company’s 50-day moving average price is $12.44. Alto Neuroscience has a twelve month low of $9.40 and a twelve month high of $24.00.

Alto Neuroscience (NYSE:ANRO) last announced its quarterly earnings data on Tuesday, May 14th. The company reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.46) by ($0.30). Research analysts predict that Alto Neuroscience will post -2.93 EPS for the current year.

Insider Buying and Selling at Alto Neuroscience

In other Alto Neuroscience news, insider Adam Savitz bought 12,069 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were bought at an average price of $12.60 per share, for a total transaction of $152,069.40. Following the transaction, the insider now directly owns 36,920 shares in the company, valued at $465,192. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Investors Weigh In On Alto Neuroscience

Several institutional investors have recently bought and sold shares of ANRO. Bank of New York Mellon Corp purchased a new position in Alto Neuroscience in the 2nd quarter worth approximately $252,000. University of Texas Texas AM Investment Managment Co. bought a new position in shares of Alto Neuroscience in the first quarter worth approximately $340,000. Zimmer Partners LP purchased a new position in shares of Alto Neuroscience in the first quarter worth $1,151,000. AWM Investment Company Inc. bought a new stake in Alto Neuroscience during the 1st quarter valued at $4,592,000. Finally, Artal Group S.A. bought a new stake in Alto Neuroscience during the 1st quarter valued at $5,372,000.

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.