Alto Neuroscience, Inc. (ANRO)
NYSE:ANRO
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Alto Neuroscience, Inc.
(NYSE:ANRO)
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Rating:54Neutral
Price Target:
$22.00
▼(-3.42% Downside)
Action:ReiteratedDate:04/03/26
The score is held back primarily by weak financial performance (no revenue, sizable losses, and accelerating cash burn). Offsetting factors include a relatively strong funding/leverage position and a positive technical setup with price above major moving averages. Valuation remains constrained by ongoing losses, while recent corporate events are mixed—disappointing trial readout balanced by meaningful financing.
Positive Factors
Balance sheet strength & financing
The $120M private placement materially bolsters liquidity and, pro forma, the company cites roughly $275M cash. Combined with very low debt (~$4.4M vs $151.1M equity), this reduces near-term financing risk and provides funding runway to advance late-stage programs and de-risk development milestones over the next 12–24 months.
Negative Factors
No recurring revenue and large losses
Zero recurring revenue and sizable net losses reflect a pure development-stage cost structure with no operating cash inflows. This structural reality forces ongoing reliance on external capital, limits self-funding capacity for growth, depresses return metrics long-term, and creates persistent dilution risk until a commercial product or recurring revenue stream materializes.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance sheet strength & financing
The $120M private placement materially bolsters liquidity and, pro forma, the company cites roughly $275M cash. Combined with very low debt (~$4.4M vs $151.1M equity), this reduces near-term financing risk and provides funding runway to advance late-stage programs and de-risk development milestones over the next 12–24 months.
Read all positive factors
Alto Neuroscience, Inc. (ANRO) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$727.72M
Dividend YieldN/A
Average Volume (3M)2.30M
Price to Earnings (P/E)―
Beta (1Y)2.09
Revenue GrowthN/A
EPS Growth-7.87%
CountryUS
Employees76
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.46
Shares Outstanding31,945,517
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 Cap0.79
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit-971.61
Enterprise Value/Ebitda-9.33
Forecast
1Y Price Target
$34.88Price Target Upside53.12% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering10
EPS Forecast (FY)-2.42
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
null...
Alto Neuroscience, Inc. Financial Statement Overview
Summary
Income Statement
14
Very Negative
Balance Sheet
62
Positive
Cash Flow
20
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 210.00K |
| Gross Profit | -661.00K | -502.00K | -373.00K | -342.00K | 65.00K |
| EBITDA | -65.70M | -68.61M | -34.56M | -27.37M | -9.04M |
| Net Income | -63.24M | -61.43M | -36.30M | -27.71M | -9.19M |
Balance Sheet | |||||
| Total Assets | 184.69M | 177.54M | 86.63M | 50.85M | 28.79M |
| Cash, Cash Equivalents and Short-Term Investments | 176.48M | 168.23M | 82.55M | 48.34M | 25.70M |
| Total Debt | 4.41M | 16.94M | 9.99M | 82.11M | 38.16M |
| Total Liabilities | 33.55M | 26.08M | 158.30M | 89.26M | 41.27M |
| Stockholders Equity | 151.14M | 151.46M | -71.67M | -38.41M | -12.48M |
Cash Flow | |||||
| Free Cash Flow | -51.79M | -49.50M | -33.92M | -21.13M | -9.94M |
| Operating Cash Flow | -51.77M | -47.42M | -33.45M | -20.39M | -9.26M |
| Investing Cash Flow | -24.00K | -2.08M | -470.00K | -732.00K | -680.00K |
| Financing Cash Flow | 60.08M | 135.69M | 68.13M | 43.79M | 31.69M |
Alto Neuroscience, Inc. Technical Analysis
Positive
22.78
Price Trends
19.76
Positive
17.85
Positive
11.57
Positive
Market Momentum
0.59
Positive
56.83
Neutral
64.08
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ANRO, the sentiment is Positive. The current price of 22.78 is above the 20-day moving average (MA) of 21.77, above the 50-day MA of 19.76, and above the 200-day MA of 11.57, indicating a bullish trend. The MACD of 0.59 indicates Positive momentum. The RSI at 56.83 is Neutral, neither overbought nor oversold. The STOCH value of 64.08 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ANRO.
Alto Neuroscience, Inc. Risk Analysis
Alto Neuroscience, Inc. disclosed 91 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 |
|---|---|---|---|---|---|---|---|
58 Neutral | $173.82M | -1.38 | -65.76% | ― | ― | -17.43% | |
54 Neutral | $727.72M | -8.12 | -45.01% | ― | ― | -7.87% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $237.69M | -2.43 | -656.82% | ― | ― | 3.70% | |
50 Neutral | $186.72M | -3.95 | -977.67% | ― | ― | 17.36% | |
48 Neutral | $487.25M | -40.48 | -110.72% | ― | ― | 77.08% |
* Healthcare Sector Average
ANRO
Alto Neuroscience, Inc.
22.78
20.70
995.19%
CRBP
Corbus Pharmaceuticals
9.80
4.00
68.97%
FBRX
Forte Biosciences
35.09
29.50
527.73%
MIST
Milestone Pharmaceuticals
2.02
1.19
143.37%
ELTX
Elicio Therapeutics
10.15
5.23
106.30%
Alto Neuroscience, Inc. Corporate Events
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.