Smith Nicholas Conrad (PRESIDENT AND CFO) sold $2.9M of stock, under a pre-arranged trading plan
SEC Form 4
Alto Neuroscience, Inc. is a US-listed company in the biotechnology industry. Its financial year ends in December.
Who’s trading
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
- Insiders0 buying, 1 selling0 purchases and 3 sales by directors and officers, last 12 monthsInsider trades
- Funds66 adding, 49 cuttingOf 33 active managers that changed their stake, 10 added; quarter to June 30, 2026Fund buyers and sellers
The Fundamentalytics view
Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 16% in the quarter to 2026-06-30, the 3rd beat in the last four quarters.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
Highlights
How we pick theseStrengths
Nothing in Alto Neuroscience, Inc.'s latest figures clears our strength thresholds.
Things to watch
- Share dilution. Diluted shares rose 26.8% in a year.
- Volatile shares. Over the past year the shares showed annualised volatility of 77% and a beta of 1.7 against the S&P 500.
- Heavily shorted. 15.5% of the shares available to trade are sold short (7.5 days of average volume to cover).
Latest results
- Earnings per share
- -$0.65 against an average estimate of -$0.77: beat by 16.0%
- Share reaction
- +12.2% in the first session after the results on August 12, 2026, against +0.9% for the S&P 500
- Next report
- November 11, 2026; average EPS estimate -$0.70
Price chart
- 1 day-1.8%
- 1 week+0.4%
- 1 month-10.5%
- This year+24.7%
- 1 year+56.4%
- S&P 500 this year+11.2%
Loading chart…
Third-party market data · may be delayed
At a glance
Profitability
- EPS (TTM, diluted)
- $-2.46
Growth
- Share count change
- +26.8%
Earnings
- Last results
- August 12, 2026
News & updates
Company announcements, filed results and changes that matter to shareholders.
- Insider trade
- Leadership
Alto Neuroscience, Inc. announced a director or officer change
SEC 8-KRead source ↗ - Results
Alto Neuroscience, Inc. reported results
SEC 8-KRead source ↗ - Agreement
Alto Neuroscience, Inc. entered a material agreement
SEC 8-KRead source ↗ - Results
Alto Neuroscience, Inc. reported results; disclosed a material event
SEC 8-KRead source ↗
No model value for Alto Neuroscience, Inc. at the moment. Current status: limited reported history: available models are shown without a Buy/Hold/Sell rating. Available reported financials are shown below.
Valuation models
We value Alto Neuroscience, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.5%: the 10-year Treasury yield (4.9%) plus a beta of 1.01 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | — | Does not apply: no positive earnings in the latest twelve months |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | — | Does not apply: the model gives no positive value |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | — | Does not apply: return on equity is not positive |
| Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. | — | Does not apply: revenue and margins don't support a positive value |
| Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. | — | Does not apply: no positive revenue in the latest twelve months |
| Combined value Weighted average of the models that apply: the primary model (price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. | — | No model applies: the filings don’t yet support a value. |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Alto Neuroscience, Inc. with Biotechnology in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Moat
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.
Forecasts and guidance
Next results: November 11, 2026, after the close. Analysts expect revenue of $0 and EPS of −$0.70 (range −$0.89 to −$0.60) for the quarter.
Analysts' consensus
| Fiscal year | EPS | Growth | Revenue | Growth |
|---|---|---|---|---|
| Current | −$2.92 | — | — | 0% |
| Next | −$3.19 | −9% | — | 0% |
How the EPS forecast has moved
The consensus EPS forecast for the current fiscal year is −7.1% on 90 days ago. In the last 30 days, 3 analysts raised Alto Neuroscience, Inc.'s forecast and 0 cut it.
Average of analysts' published estimates (third-party data).
View chart data
| Period | Current fiscal year | Next fiscal year |
|---|---|---|
| 90 days ago | −$3.15 | −$3.43 |
| 60 days ago | −$3.15 | −$3.29 |
| 30 days ago | −$2.92 | −$3.29 |
| 7 days ago | −$2.92 | −$3.29 |
| Now | −$2.92 | −$3.19 |
Earnings against estimates
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | −$0.77 | −$0.65 | +16.0% |
| Mar 2026 | −$0.51 | −$0.80 | −58.4% |
| Dec 2025 | −$0.51 | −$0.45 | +11.8% |
| Sept 2025 | −$0.64 | −$0.52 | +18.8% |
Adjusted EPS as companies report it, against the average analyst estimate.
Positioning
- Short interest
- 15.5% of tradable shares
- Days to cover
- 7.5 at average volume
- Short interest, 1 month
- +25% to October 15, 2026
- Held by institutions
- 89% of shares
- Held by insiders
- 4.2% of shares
- Employees
- 68 full time
Share-price performance
Market data may be delayedReturn and risk by year
| Calendar year | 2025 | 2026 to date |
|---|---|---|
| Return | ||
| ANRO | +321% | +25% |
| Industry peers (median) | −5% | −27% |
| S&P 500 | +18% | +11% |
| Months that ended higher | ||
| ANRO | 67% | 55% |
| S&P 500 | 75% | 46% |
| Largest fall from a high during the year | ||
| ANRO | −63% | −41% |
| S&P 500 | −19% | −9% |
Worst fall since February 2, 2024: 92% from February 5, 2024 to April 4, 2025. Getting back needed a 1111% gain, reached on March 9, 2026, 339 days after the low.
Price behaviour
- 52-week range
- $11.13 – $36.64
- From 52-week high
- −39.4%
- vs 50-day average
- −20.8%
- vs 200-day average
- −8.6%
- Volatility (1 year)
- 77%
- Beta vs S&P 500
- 1.74
Share price after results
- Next day
- 5 up, 7 down typical move ±6.5%
- After a week
- 5 up, 7 down typical move ±14.0%
- After a month
- 7 up, 5 down typical move ±18.0%
| Results released | Next day | S&P 500 next day | 5 days | 21 days |
|---|---|---|---|---|
| August 12, 2026 | +12.2% | +0.9% | +21.2% | +11.2% |
| July 13, 2026 | +5.0% | −0.4% | −2.2% | +8.7% |
| May 13, 2026 | −4.2% | +1.4% | −15.6% | −12.8% |
| March 16, 2026 | +0.4% | +1.3% | −10.1% | +14.4% |
| November 12, 2025 | −15.3% | −1.6% | +16.0% | +12.9% |
| August 13, 2025 | −1.9% | +0.4% | +7.9% | +22.3% |
| May 14, 2025 | +2.5% | +0.6% | +20.3% | +1.7% |
| March 20, 2025 | −5.4% | −0.3% | −13.9% | −17.1% |
| February 3, 2025 | −6.8% | 0.0% | −21.0% | −21.2% |
| November 12, 2024 | −6.4% | −0.3% | −7.4% | −20.9% |
| August 13, 2024 | +15.8% | +2.0% | +22.6% | +58.2% |
| May 14, 2024 | −1.8% | +1.7% | −9.9% | −14.7% |
Fundamentals
Dividends, buybacks and capital spending
- Diluted share count
- +26.8%
- year over year
Who owns it
Funds buying and selling- Reported value
- $778M
- Institutions reporting
- 114
- Shares held vs prior quarter
- ▲ 9.8%
- Positions opened / closed
- 27 / 22
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Alpha Wave Global, LP | $97.8M | 3.7M | 12.6% | 0.0% |
| Commodore Capital LP | $71.9M | 2.7M | 9.2% | 0.0% |
| Blackrock, Inc. | $56M | 2.1M | 7.2% | ▲ 218.4% |
| Perceptive Advisors LLC | $42.5M | 1.6M | 5.5% | ▼ 19.9% |
| Adage Capital Partners Gp, L.L.C. | $42.2M | 1.6M | 5.4% | ▲ 315.6% |
| Vanguard Capital Management LLC | $36.7M | 1.4M | 4.7% | ▲ 15.1% |
| Spruce Street Capital LP | $35.7M | 1.4M | 4.6% | ▲ 2.1% |
| Vivo Capital, LLC | $31.9M | 1.2M | 4.1% | ▲ 16.7% |
| Franklin Resources Inc | $26.7M | 1.0M | 3.4% | ▼ 8.0% |
| Armistice Capital, LLC | $22.8M | 864K | 2.9% | ▼ 5.3% |
| Affinity Asset Advisors, LLC | $22.4M | 850K | 2.9% | ▲ 70.0% |
| Vestal Point Capital, LP | $20.7M | 785K | 2.7% | ▼ 62.0% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Alto Neuroscience, Inc.'s complete shareholder register. Values are as reported by the filers .
Insider trading activity
Full insider history and chart Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $3.6M 3 trades by 1 insider · 100% under pre-set plans
Net ▼ $3.6M net selling
| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Smith Nicholas Conrad PRESIDENT AND CFO | September 30, 2026 | Sell pre-set plan | 886 | $26.87 | $23,807 |
| Smith Nicholas Conrad PRESIDENT AND CFO | September 30, 2026 | Sell pre-set plan | 23,170 | $25.78 | $597,290 |
| Smith Nicholas Conrad PRESIDENT AND CFO | September 29, 2026 | Sell pre-set plan | 110,830 | $26.58 | $2.9M |
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
Earnings dates and SEC filings
Results announcements
- August 12, 2026
- July 13, 2026
- May 13, 2026
- March 16, 2026
- November 12, 2025
- August 13, 2025
Recent SEC filings
- 8-K Current report
- 10-Q Quarterly report
- 8-K Current report
- 8-K Current report
- 8-K Current report
- 8-K Current report
- 8-K Current report
- 10-Q Quarterly report
Data status
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
Alto Neuroscience, Inc. in brief
- What does Alto Neuroscience, Inc. do?
- Alto Neuroscience, Inc. is a US-listed company in the biotechnology industry. Its financial year ends in December.
- What is Alto Neuroscience, Inc.'s stock ticker?
- Alto Neuroscience, Inc. trades under the ticker ANRO on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
- Who are Alto Neuroscience, Inc.'s largest institutional shareholders?
- By value reported in 13F filings for June 30, 2026, the largest reported holders are Alpha Wave Global, LP, Commodore Capital LP and Blackrock, Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
- Are insiders buying or selling Alto Neuroscience, Inc. stock?
- Over the last 12 months, Alto Neuroscience, Inc.'s directors and officers reported 0 open-market purchases and 3 sales on Form 4. The insider trading page charts every trade.
- When is Alto Neuroscience, Inc.'s next earnings date?
- Around November 11, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Alto Neuroscience, Inc. announces its own schedule.
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