Franklin Resources Inc. Purchases 595,673 Shares of Alto Neuroscience, Inc. (NYSE:ANRO)

Franklin Resources Inc. increased its position in Alto Neuroscience, Inc. (NYSE:ANRO) by 95.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,220,712 shares of the company’s stock after purchasing an additional 595,673 shares during the quarter. Franklin Resources Inc. owned approximately 4.53% of Alto Neuroscience worth $13,965,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ANRO. Barclays PLC grew its position in shares of Alto Neuroscience by 872.7% during the 3rd quarter. Barclays PLC now owns 29,599 shares of the company’s stock worth $339,000 after buying an additional 26,556 shares during the period. Geode Capital Management LLC boosted its stake in Alto Neuroscience by 148.7% in the third quarter. Geode Capital Management LLC now owns 469,988 shares of the company’s stock valued at $5,378,000 after acquiring an additional 281,018 shares during the last quarter. Jane Street Group LLC acquired a new stake in Alto Neuroscience during the 3rd quarter worth $124,000. Wellington Management Group LLP bought a new stake in shares of Alto Neuroscience during the 3rd quarter valued at $694,000. Finally, State Street Corp lifted its stake in shares of Alto Neuroscience by 123.7% in the 3rd quarter. State Street Corp now owns 236,857 shares of the company’s stock valued at $2,710,000 after purchasing an additional 130,985 shares during the period.

Analyst Ratings Changes

ANRO has been the subject of a number of analyst reports. William Blair reaffirmed an “outperform” rating on shares of Alto Neuroscience in a research note on Tuesday, September 10th. RODMAN&RENSHAW lowered Alto Neuroscience from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus cut their price target on shares of Alto Neuroscience from $32.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, November 13th. Robert W. Baird decreased their price objective on shares of Alto Neuroscience from $32.00 to $10.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Finally, Wedbush lowered shares of Alto Neuroscience from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $29.00 to $4.00 in a report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Alto Neuroscience Price Performance

NYSE ANRO opened at $3.89 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 13.10 and a quick ratio of 13.09. The business has a 50 day simple moving average of $5.55 and a 200 day simple moving average of $9.72. Alto Neuroscience, Inc. has a 52-week low of $3.56 and a 52-week high of $24.00.

Alto Neuroscience (NYSE:ANRO) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.62) EPS for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.05. As a group, analysts forecast that Alto Neuroscience, Inc. will post -2.54 EPS 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.