ANRO
HealthcareAlto Neuroscience, Inc. · Biotechnology · $740M
What is Alto Neuroscience, Inc.?
Alto Neuroscience is a clinical-stage biopharmaceutical company focused on developing novel treatments for psychiatric conditions, including major depressive disorder and schizophrenia-related cognitive impairment. Incorporated in 2019 and headquartered in Los Altos, California, the company combines drug development with an AI-enabled biomarker platform.
Alto Neuroscience develops small-molecule drug candidates targeting psychiatric disorders, with a primary focus on major depressive disorder, post-traumatic stress disorder, and cognitive impairment associated with schizophrenia. The company's approach pairs its pipeline of investigational compounds with an AI-enabled biomarker platform designed to identify which patients are most likely to respond to each treatment. Revenue is not yet generated from product sales — the company is pre-commercial and funds operations through capital raises.
Alto Neuroscience was incorporated in 2019 and is based in Los Altos, California.
- ALTO-100: investigational treatment for major depressive disorder and PTSD
- ALTO-300: melatonergic and serotonergic small molecule for MDD
- ALTO-101: phosphodiesterase 4 inhibitor for schizophrenia-related cognitive impairment
- ALTO-203 and ALTO-202: novel small molecules targeting MDD subtypes
- AI-enabled biomarker platform for patient stratification in psychiatric trials
Is ANRO a Good Stock to Buy?
UQS Score rates ANRO as Poor overall, reflecting the early-stage nature of the business across nearly every dimension evaluated.
Among the five pillars, Risk is the least concerning — a common profile for clinical-stage biotechs where balance sheet management and trial structure can partially offset broader uncertainty. Valuation is rated Elevated, which in this context reflects the speculative premium the market assigns to pipeline potential rather than current earnings power.
Quality, Moat, and Growth all register as Weak, consistent with a pre-revenue company that has no approved products, no established competitive advantages, and no near-term path to organic revenue growth.
Pro members can view the full pillar breakdown and underlying financial metrics to understand exactly where ANRO stands relative to other clinical-stage healthcare names. Sign up free →
Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does ANRO pay dividends?
No — Alto Neuroscience, Inc. does not currently pay a dividend.
Alto Neuroscience does not pay a dividend. As a clinical-stage company with no approved products and no commercial revenue, capital is directed entirely toward research, clinical trials, and operations. Income-focused investors should not expect a dividend from ANRO in the foreseeable future given its current development stage.
When does ANRO report earnings?
Alto Neuroscience reports financial results on a quarterly cadence, standard for US-listed equities.
As a pre-revenue clinical-stage company, quarterly reports focus primarily on cash runway, operating expenses, and clinical trial progress rather than revenue or profitability metrics. Pipeline milestones and trial readouts tend to be the most market-moving disclosures.
For the most recent quarter's results and pipeline updates, visit Alto Neuroscience's investor relations page directly.
ANRO Price History
+66.0% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Alto Neuroscience, Inc.?
Based on Alto Neuroscience, Inc.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
ANRO Long-term Outlook
The fundamental outlook for ANRO is shaped almost entirely by binary clinical trial outcomes rather than traditional financial growth drivers. With Growth and Quality both rated Weak, there is no near-term revenue trajectory to model in a conventional sense. The Risk pillar landing at Neutral suggests the company is not in immediate financial distress, but the Elevated Valuation rating indicates the market is pricing in meaningful pipeline optionality — a dynamic that can reverse quickly on negative trial data.
Growth drivers
- Positive clinical readouts from the ALTO-100 or ALTO-300 programs in major depressive disorder
- Expansion of the AI biomarker platform as a differentiating tool for patient selection in psychiatric trials
- Potential partnership or licensing deals that could validate pipeline assets and extend cash runway
Key risks
- Clinical trial failure in any lead program could significantly impair the company's value
- Elevated Valuation relative to current fundamentals leaves limited margin of safety for setbacks
- Ongoing cash consumption with no commercial revenue creates dilution risk over time
ANRO vs Peers
Alto Neuroscience operates in a competitive clinical-stage biopharma landscape alongside other small-cap companies developing treatments in overlapping therapeutic areas.
Theravance focuses on organ-selective medicines and has a more advanced commercial and royalty-generating profile compared to Alto's purely pre-revenue pipeline.
LB Pharmaceuticals is also a clinical-stage psychiatry-focused developer, making it one of the most direct pipeline comparables to Alto Neuroscience.
MannKind has progressed beyond the clinical stage with approved products, giving it a commercial revenue base that Alto has not yet achieved.
Frequently Asked Questions
What does Alto Neuroscience do?
Alto Neuroscience is a clinical-stage biopharmaceutical company developing small-molecule drug candidates for psychiatric conditions, primarily major depressive disorder, PTSD, and cognitive impairment associated with schizophrenia. The company also operates an AI-enabled biomarker platform designed to match patients with the treatments most likely to benefit them.
Does ANRO pay dividends?
No, ANRO does not pay a dividend. As a pre-revenue clinical-stage company, all available capital is deployed toward research and clinical development. A dividend is not expected until the company reaches a significantly more mature commercial stage.
When does ANRO report earnings?
Alto Neuroscience reports on a quarterly cadence, consistent with US-listed equities. Because the company is pre-commercial, reports center on operating expenses and trial progress rather than revenue. Check Alto Neuroscience's investor relations page for the latest schedule.
Is ANRO a good stock to buy?
UQS Score rates ANRO as Poor overall, driven by Weak ratings across Quality, Moat, and Growth pillars. This reflects the realities of a pre-revenue clinical-stage business. Whether it suits a particular investor depends on their risk tolerance and view on the pipeline. The full pillar breakdown is available to Pro members.
Is ANRO overvalued?
The UQS Valuation pillar for ANRO is rated Elevated. For a clinical-stage biotech with no revenue, this typically reflects speculative market pricing around pipeline potential. Elevated valuation in this context means the stock carries limited fundamental margin of safety if trial results disappoint.
How does ANRO compare to its competitors?
Relative to peers like LB Pharmaceuticals, ANRO is similarly early-stage and psychiatry-focused. Compared to MannKind, which has approved products, Alto is at an earlier development stage. Theravance has a royalty-generating profile that Alto has not yet reached. UQS Score pillar comparisons across these names are available to Pro members.
What is ANRO's market cap bracket?
ANRO is classified as a small-cap stock. This is typical for clinical-stage biopharmaceutical companies that have not yet generated commercial revenue and are valued primarily on pipeline potential and cash runway.
Who founded Alto Neuroscience?
Alto Neuroscience was incorporated in 2019. For detailed founding history and leadership background, the company's official website and SEC filings are the most reliable sources.
Is ANRO a long-term quality investment?
As a long-term quality indicator, UQS Score currently rates ANRO as Poor. The Weak Quality and Moat scores reflect the absence of revenue, durable competitive advantages, or proven products. Long-term quality potential depends almost entirely on clinical outcomes that remain uncertain at this stage.
What is the main competitive advantage of Alto Neuroscience?
Alto Neuroscience's stated differentiation is its AI-enabled biomarker platform, which aims to identify patients most likely to respond to its drug candidates. If validated, this precision psychiatry approach could reduce trial failure rates — though it remains unproven commercially and is reflected in the current Weak Moat rating.
What sector does ANRO belong to?
ANRO operates in the Healthcare sector, specifically within clinical-stage biopharmaceuticals. Its focus on psychiatry — including depression, PTSD, and schizophrenia — places it in a niche that has historically seen both high failure rates and significant unmet medical need.
Is ANRO a growth stock or value stock?
Based on UQS pillar ratings, ANRO does not fit neatly into either category. The Growth pillar is rated Weak given the absence of revenue, while the Valuation pillar is Elevated — suggesting the market is pricing in future potential rather than current fundamentals. It is best characterized as a speculative clinical-stage name.
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Pro Analysis
ANRO — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 16, 2026 | 18.5 | 16.6 | 13.0 | 7.2 | 64.7 | 0.0 | +6.8 |
| May 14, 2026 | 11.7 | 0.0 | 13.0 | 7.2 | 47.1 | 0.0 | -0.8 |
| Apr 22, 2026 | 12.5 | 0.0 | 13.0 | 7.2 | 52.0 | 0.0 | -0.3 |
| Apr 2, 2026 | 12.8 | 0.0 | 13.0 | 8.9 | 52.0 | 0.0 | — |
ANRO — Pillar Breakdown
Quality
— 16.6/100 (25%)Alto Neuroscience, Inc. currently shows below-average quality metrics, suggesting challenges with profitability.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Free cash flow relative to market value.
Growth
— 7.2/100 (20%)Alto Neuroscience, Inc. faces growth headwinds with declining or stagnant revenue trends.
Revenue trajectory over the last twelve months.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Risk
— 64.7/100 (15%)Alto Neuroscience, Inc. maintains a reasonable risk profile with manageable debt levels.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 0.0/100 (15%)Alto Neuroscience, Inc. appears expensively valued relative to its fundamentals and growth prospects.
Moat
— 13/100 (25%)Alto Neuroscience, Inc. operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for ANRO.
Score Composition
Financial Data
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How is the ANRO UQS Score Calculated?
The UQS (Unified Quality Score) for Alto Neuroscience, Inc. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Alto Neuroscience, Inc.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Alto Neuroscience, Inc. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.