Alto Neuroscience Inc. Common Stock (ANRO)

FairStock Score: 25/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I am looking for durable earnings power, honest accounting, and a margin of safety. Alto Neuroscience is a clinical-stage biopharmaceutical company with 68 employees, testing ALTO-100 in Phase 2b for bipolar depression and ALTO-300 in Phase 2b for major depressive disorder. The filed figures show no revenue. In fiscal 2025, net income was -$63.2 million, or -$2.19 per diluted share; fiscal 2024 lost -$61.4 million, or -$2.50 per share; fiscal 2023 lost -$36.3 million, or -$9.73 per share. More recently, fiscal Q1 2026 lost -$26.2 million, and fiscal Q2 2026 lost -$27.6 million. Trailing free cash flow is -$68.8 million, a -7.9% FCF yield on the $866.9 million market cap as of 2026-10-13. FairStock calculations show P/E -9.65, P/B 3.53, ROE -49.17%, ROCE -26.79%, D/E 0.11, Piotroski 0/9, and Altman Z-score 14.62. The low debt ratio is helpful, but cash burn is the central issue. The competitive moat is unproven; intellectual property and trial data are the only potential moat, and Phase 2 failures can erase value. The FairStock Score is 25/100. The Lynch category is none because the company lost money in each of the last three years. A 52-week range of $5.71 to $37.48 shows speculation. I see no margin of safety in current earnings because there are none. This is a venture-style bet, not a Graham-style bargain.

In plain English: Alto Neuroscience is a small healthcare company testing new medicines for depression and bipolar disorder. It has no product sales yet and has lost money in each of the last three years, so the business looks weak today. At the $22.09 close on 2026-10-13, the price is not supported by current profits or cash flow, so it looks expensive relative to today's numbers.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer