Alto Neuroscience(US:ANRO) Prnewswireยท2025-07-23 15:14Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Alto Neuroscience, Inc. due to allegations of misleading statements regarding the effectiveness of its drug ALTO-100 for treating major depressive disorder (MDD) [2][4]. Group 1: Legal Investigation and Class Action - Investors who suffered losses exceeding $50,000 in Alto are encouraged to contact Faruqi & Faruqi to discuss their legal options [1]. - A federal securities class action has been filed against Alto, with a deadline of September 19, 2025, for investors to seek the role of lead plaintiff [2]. - The lead plaintiff is defined as the investor with the largest financial interest who directs the litigation on behalf of the class [7]. Group 2: Allegations Against Alto - The complaint alleges that Alto and its executives violated federal securities laws by making false statements and failing to disclose critical information about ALTO-100's effectiveness [4]. - Specifically, it is claimed that ALTO-100 was less effective in treating MDD than represented, leading to overstated clinical and commercial prospects [4]. Group 3: Stock Performance Impact - Following the announcement of ALTO-100's Phase 2b trial results, which did not meet its primary endpoint, Alto's stock price fell by $10.17 per share, or 69.99%, closing at $4.36 on October 23, 2024 [5]. - Analysts reacted by adjusting their price targets, with Jeffries reducing its target for Alto from $33 to $17, citing concerns over the company's biomarker approach [6].