Alto Neuroscience (ANRO) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Alto Neuroscience

NYSE•Healthcare•Biotechnology

$31.90-2.17(-0.06%)Market open

Market Cap

$1.36B

P/B

6.2x

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.

How this company scores

AverageMetricSide Score: 41/100

Strongest: Balance Sheet & Red Flags (21/25); weakest: Cash & Earnings Quality (6/25).

Profitability8/25

Growth6/25

Balance Sheet & Red Flags21/25

Cash & Earnings Quality6/25

Strengths

Long cash runwayLow leverageImproving leverageNet cash position

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/B · 6.2x5y range 0.4x – 6.2x

Currently above its 10-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 8 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $1.36B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $0
Q. Revenue: $0
TTM EBITDA: $-87.58M
TTM Op. Income: $-88.27M
Q. Op. Income: $-29.13M
TTM Net Income: $-84.24M
Q. Net Income: $-27.64M
EPS: $-0.65
Shares Out.: $42.81M

$0 in TTM revenue was flat at zero YoY, reaching $0 last quarter. TTM EBITDA of $-87.58M and TTM operating income of $-88.27M show growth is flowing through to the bottom line. However, net income is negative at $84.24M — growth is not yet reaching the bottom line.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: N/A
Op. Margin: -2912900000.0%
Net Margin: -2763800000.0%

Op. margin of -2912900000.0% is down 1044700000.0% YoY — costs are rising relative to revenue. Net margin at -2763800000.0% Across the last 8 quarters, operating margin has fallen for 3 consecutive quarters — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: N/A
P/B Ratio: 6.2x

P/S of 0.0x and P/B of 6.2x.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $254.07M
Cash: $243.73M
Long-Term Debt: $12.42M
Book Value: $219.25M
D/E Ratio: 0.1
Debt/EBITDA: N/A

With $254.07M in assets and $12.42M in long-term debt, D/E is 0.1and book value is $219.25M — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 3 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-19.76M
TTM Free Cash Flow: $-68.84M
FCF Margin: N/A
FCF / Net Income: 0.8

TTM FCF of $-68.84M on $-19.76M in operating cash flow. The FCF / Net Income ratio of 0.8x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has fallen for 2 consecutive quarters — a weakening trend.