Alto Neuroscience, Inc. (ANRO)
NYSE:ANRO
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Alto Neuroscience, Inc.
(NYSE:ANRO)
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Rating:49Neutral
Price Target:
$20.50
▼(-26.05% Downside)
Action:Reiterated
Date:05/28/26
The score is held down primarily by pre-revenue financials with significant losses and cash burn, alongside bearish technicals. These are partly offset by a strengthened balance sheet and fresh financing that improves the company’s ability to fund its lead program, though recent clinical disappointment adds risk.
Positive Factors
Low leverage / stronger balance sheet
The company's balance sheet shows materially reduced solvency risk: very low debt relative to equity and a shift from negative to positive equity in 2024–TTM. That capitalization gives Alto multi-quarter funding flexibility for clinical programs and reduces near-term refinancing pressure.
Negative Factors
Pre-revenue operations
Alto remains pre-revenue, with no commercial cash inflows to offset R&D and G&A spend. Sustained reliance on capital markets or partners to fund development increases execution risk over multiple quarters and means operating performance depends entirely on trial outcomes and financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / stronger balance sheet
The company's balance sheet shows materially reduced solvency risk: very low debt relative to equity and a shift from negative to positive equity in 2024–TTM. That capitalization gives Alto multi-quarter funding flexibility for clinical programs and reduces near-term refinancing pressure.
Read all positive factors
Alto Neuroscience, Inc. (ANRO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$704.34M
Dividend YieldN/A
Average Volume (3M)2.30M
Price to Earnings (P/E)―
Beta (1Y)2.13
Revenue GrowthN/A
EPS Growth-6.01%
CountryUS
Employees76
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-2.48
Shares Outstanding35,093,940
10 Day Avg. Volume557,199
30 Day Avg. Volume2,303,174
Financial Highlights & Ratios
PEG Ratio0.65
Price to Book (P/B)3.40
Price to Sales (P/S)0.00
P/FCF Ratio-9.92
Enterprise Value/Market Cap0.63
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-1.57K
Enterprise Value/Ebitda-6.14
Forecast
1Y Price Target
$34.78Price Target Upside25.46% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering11
EPS Forecast (FY)-2.98
Revenue Forecast (FY)N/A
Alto Neuroscience, Inc. Business Overview & Revenue Model
Company Description
Alto Neuroscience, Inc. operates as a clinical-stage biopharmaceutical company that engages in the psychiatry drug development business. The company develops ALTO-100 for the treatment of patients with major depressive disorder (MDD) and post-trau...
How the Company Makes Money
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Alto Neuroscience, Inc. Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
63
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 210.00K |
| Gross Profit | -284.00K | -661.00K | -502.00K | -373.00K | -342.00K | 65.00K |
| EBITDA | -72.73M | -65.70M | -68.61M | -34.56M | -27.37M | -9.04M |
| Net Income | -74.31M | -63.24M | -61.43M | -36.30M | -27.71M | -9.19M |
Balance Sheet | ||||||
| Total Assets | 276.26M | 184.69M | 177.54M | 86.63M | 50.85M | 28.79M |
| Cash, Cash Equivalents and Short-Term Investments | 263.76M | 176.48M | 168.23M | 82.55M | 48.34M | 25.70M |
| Total Debt | 5.69M | 4.41M | 16.94M | 9.99M | 82.11M | 38.16M |
| Total Liabilities | 32.89M | 33.55M | 26.08M | 158.30M | 89.26M | 41.27M |
| Stockholders Equity | 243.37M | 151.14M | 151.46M | -71.67M | -38.41M | -12.48M |
Cash Flow | ||||||
| Free Cash Flow | -62.86M | -51.79M | -49.50M | -33.92M | -21.13M | -9.94M |
| Operating Cash Flow | -62.30M | -51.77M | -47.42M | -33.45M | -20.39M | -9.26M |
| Investing Cash Flow | -556.00K | -24.00K | -2.08M | -470.00K | -732.00K | -680.00K |
| Financing Cash Flow | 165.89M | 60.08M | 135.69M | 68.13M | 43.79M | 31.69M |
Alto Neuroscience, Inc. Technical Analysis
Negative
27.72
Price Trends
23.17
Negative
20.68
Negative
15.17
Positive
Market Momentum
-1.00
Positive
35.25
Neutral
13.11
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ANRO, the sentiment is Negative. The current price of 27.72 is above the 20-day moving average (MA) of 22.73, above the 50-day MA of 23.17, and above the 200-day MA of 15.17, indicating a neutral trend. The MACD of -1.00 indicates Positive momentum. The RSI at 35.25 is Neutral, neither overbought nor oversold. The STOCH value of 13.11 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ANRO.
Alto Neuroscience, Inc. Risk Analysis
Alto Neuroscience, Inc. disclosed 93 risk factors in its most recent earnings report. Alto Neuroscience, Inc. reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Alto Neuroscience, Inc. Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
60 Neutral | $146.55M | -1.25 | -70.89% | ― | ― | -37.60% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $704.34M | -8.88 | -47.22% | ― | ― | -6.01% | |
49 Neutral | $176.79M | -2.71 | -339.38% | ― | ― | 17.64% | |
46 Neutral | $218.34M | -5.18 | -2748.16% | ― | ― | 43.68% | |
45 Neutral | $390.53M | -44.84 | -106.16% | ― | ― | 63.03% |
* Healthcare Sector Average
ANRO
Alto Neuroscience, Inc.
20.07
17.47
671.92%
CRBP
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7.77%
FBRX
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19.07
10.24
115.97%
MIST
Milestone Pharmaceuticals
1.42
-0.31
-17.92%
ELTX
Elicio Therapeutics
11.44
3.69
47.61%
Alto Neuroscience, Inc. Corporate Events
Executive/Board Changes
Alto Neuroscience Appoints Andrew Miller to Board
Positive
May 28, 2026
On May 27, 2026, Alto Neuroscience, Inc. expanded its board of directors from six to seven members and unanimously appointed Andrew Miller, Ph.D., as a Class III director with a term running through the 2027 annual stockholder meeting. Miller, dee...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Alto Neuroscience Shareholders Shape Governance and Equity Plans
Neutral
May 13, 2026
On May 12, 2026, Alto Neuroscience, Inc. held its Annual Meeting, at which stockholders elected Class II directors Raymond Sanchez, M.D., and Gwill York to serve until the 2029 annual meeting, and ratified Deloitte Touche LLP as the independent r...
Business Operations and StrategyProduct-Related Announcements
Alto Shifts Focus to ALTO-207 After ALTO-101 Data
Negative
Apr 1, 2026
On April 1, 2026, Alto Neuroscience reported topline Phase 2 proof-of-concept data for ALTO-101 in cognitive impairment associated with schizophrenia, showing no statistically significant benefit on primary EEG or cognitive endpoints versus placeb...
Business Operations and StrategyExecutive/Board ChangesPrivate Placements and Financing
Alto Neuroscience Secures $120 Million Private Placement Financing
Positive
Mar 16, 2026
On March 16, 2026, Alto Neuroscience, Inc. entered into a securities purchase agreement for a private placement of 2.9 million common shares and pre-funded warrants for 3.1 million additional shares, at $20.00 per share or $19.9999 per warrant. Th...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.