Alto Neuroscience, Inc. logo

Alto Neuroscience, Inc.(ANRO)

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ADVISORIES YOU CAN VERIFY
QUALITY SIGNAL
2-STAR RATING
PASS
LAST CLOSE
$26.49
09/25/2026
(24-hour delay)

Advisory History & Simulated Performance *

*as per simulation (see disclosures)
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Upturn Advisory & Investor View for ANRO

09/25/2026: ANRO (2-star) is currently NOT-A-BUY. Pass it for now.

Alto Neuroscience is a clinical-stage biotechnology company that utilizes an AI-driven, biomarker-based platform to develop precision medicines for psychiatric disorders. Its primary strength lies in its potential to improve success rates in drug development by identifying patient subgroups most likely to respond to therapy. The main investment opportunity is the potential for its lead candidates, such as ALTO-100, to disrupt the psychiatric market. However, the company faces significant risks including clinical trial uncertainty, high cash burn, and intense competition from established pharmaceutical firms. This stock is best suited for growth-oriented investors who can tolerate significant volatility associated with binary clinical data outcomes.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Investor Fit

Investor styleFitWhy
Growth investorMixed fitThe company offers high growth potential linked to clinical breakthroughs but lacks current commercial revenue.
Momentum investorWeak fitMomentum is highly dependent on binary clinical trial news events which create significant short-term price volatility.
Value investorWeak fitValuation is speculative and based on long-term drug development potential rather than current cash flows or assets.
Dividend investorWeak fitThe company is a loss-making biotech reinvesting all cash, making it unsuitable for income-focused investors.
Low-risk investorWeak fitThe high failure rate of clinical-stage biotech makes this stock inappropriate for low-risk portfolios.

Risk Profile

Risk factorLevelWhy it matters
Price volatilityHighClinical trial results can cause massive swings in stock price.
Valuation riskHighValuations are based on speculative long-term success rather than current earnings.
Competition risk (Psychiatric drug developers)Medium / highLarge incumbents with deep pockets compete for the same market share.
Business qualityMediumThe company is in an early, pre-commercial phase of development.
Dividend incomeLow / noneNo dividend payments exist or are expected in the near term.
Execution riskHighThe complexity of clinical development and regulatory approval is a major hurdle.

Price Behavior

Strong Uptrend
PRICE PATH

Strong Uptrend

The stock has maintained a strong upward price trend across the last three quarters.

Choppy
PRICE STABILITY

Choppy

The stock has experienced frequent reversals and pronounced short-term price swings.

Analysis of Past Performance

Type Stock
Historic Profit 5.81%
Avg. Invested days 34
Today’s Advisory PASS
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 3.0
Stock Returns Performance Upturn Returns Performance icon 2.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 09/25/2026

Upturn Scorecard

Upturn Star Rating

★★★★★
ANRO receives a 3-star rating, supported by solid analyst coverage. The rating is constrained by weak unit economics, soft quantitative characteristics, and weak price momentum.

Company Fundamentals

★★★★★
ANRO has moderate overall fundamentals (3 stars), with moderate financial health, moderate growth momentum, and solid ownership. In FY2025 versus FY2024, growth and ownership metrics are mixed: slightly negative earnings growth (-2.9%), soft cash generation (FCF margin 0.0%), slightly negative revenue growth (+0.0%).

Financial Health Rating

★★★★★
ANRO's financial health is supported by strong efficiency, including operating-expense and cost-of-revenue discipline (opex 0.0% of revenue). Profitability is weak (1 stars), which helps explain the 3-star overall score.

Growth Momentum Score

★★★★★
ANRO's growth profile is soft, with the least-weak measure being revenue growth at +0.0% FY2025 versus FY2024. By comparison, while earnings growth (-2.9%, slightly negative) and free-cash-flow growth (-4.6%, slightly negative) hold the profile back, so recent growth is not broad-based across the business.

Ownership

★★★★★
Institutional ownership is 87.1% and approximately 75.6% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership of 4.07% provides only moderate management-shareholder alignment.

Top 5 Institutional Investors

Alpha Wave Global LP 9.45%
COMMODORE CAPITAL LP 6.94%
Vestal Point Capital LP 5.26%
Perceptive Advisors LLC 4.10%
Adage Capital Partners Gp LLC 4.08%

Unit Economics (Per $1K Revenue)

★★★★★
ANRO generates approximately $-0 of gross profit, $-0 of operating income, and $-0 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Strong margins, cash conversion, and capital efficiency support the rating.

Economic Dimensions

★★★★★
Effective Tax Rate: 0.00%

Quantitative Style Profile

★★★★★
ANRO has a liquid profile. Weak momentum is the primary drawback.

Style Classification

Quality Focused

Small / Mid Cap RiskShort Squeeze RiskHighly Liquid / Institution-Friendly

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 1.07B USD
Price to earnings Ratio -
1Y Target Price 38.38
Price to earnings Ratio -
1Y Target Price 38.38
Volume (30-day avg) 545.4K shares
Beta 1.16
52 Weeks Range 3.91 - 37.48
Updated Date 09/25/2026
52 Weeks Range 3.91 - 37.48
Updated Date 09/25/2026
Dividends yield (FY) -
Basic EPS (TTM) -2.29

How Company Makes Money

Business areaWhat it includesRetail investor read
Clinical Research and DevelopmentCurrently, the company does not generate commercial revenue and funds operations through capital raises.The company is a clinical-stage research entity, not a commercial product seller, so revenue is not currently a metric.
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Valuation

Trailing PE -
Forward PE -
Enterprise Value 858.72M
Price to Sales(TTM) -
Enterprise Value 858.72M
Price to Sales(TTM) -
Enterprise Value to Revenue -
Enterprise Value to EBITDA -
Shares Outstanding 39.24M
Shares Floating 29.65M
Shares Outstanding 39.24M
Shares Floating 29.65M
Percent Insiders 4.07
Percent Institutions 87.05

Icon representing Upturn AI-generated SWOT analysis summary Upturn AI Summary

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Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About Alto Neuroscience, Inc.

Exchange NYSE
Headquarters Mountain View, CA, United States
IPO Launch date 2024-02-02
Founder, CEO & Chairman of the Board Dr. Amit Etkin M.D., Ph.D.
Sector Healthcare
Industry Biotechnology
Full time employees 68
Full time employees 68

Alto Neuroscience, Inc. operates as a clinical-stage biopharmaceutical company in the United States. The company's product pipeline includes ALTO-100, which is in Phase 2b clinical trial for the treatment of patients with bipolar depression (BPD). It also develops ALTO-300, a small molecule melatonergic agonist and serotonergic antagonist with antidepressant properties, which is in Phase 2b clinical trial to treat patients with major depressive disorder (MDD); ALTO-101, a novel small molecule phosphodiesterase 4 inhibitor that is in Phase 2 proof-of-concept (POC) trial for the treatment of cognitive impairment associated with schizophrenia; ALTO-203, a novel small-molecule histamine H3 receptor inverse agonist, which is in Phase 2 POC trial to treat patients with MDD and higher levels of anhedonia; ALTO-202, an investigational orally bioavailable antagonist of the GluN2B subunit of the NMDA receptor that is in Phase 1 clinical trial for the treatment of MDD; and ALTO-208, a fixed-dose combination of pramipexole and aprepitant, an antiemetic, neurokinin-1 (NK-1) receptor antagonist for patients with Parkinson's disease for patients with Parkinson's disease. The company was incorporated in 2019 and is headquartered in Mountain View, California.