Alto Neuroscience(US:ANRO) GlobeNewswire News Roomยท2025-08-01 14:12Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Alto Neuroscience, Inc. due to allegations of violations of federal securities laws related to misleading statements about the effectiveness of its drug ALTO-100 for treating major depressive disorder (MDD) [4][6]. Group 1: Legal Investigation and Class Action - The firm is encouraging investors who suffered losses exceeding $50,000 in Alto to contact them 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 [4]. - The complaint alleges that Alto and its executives made false statements regarding ALTO-100's effectiveness and overstated the company's business and financial prospects [6]. Group 2: Stock Performance and Market Reaction - On October 22, 2024, Alto announced that ALTO-100 did not meet its primary endpoint in a Phase 2b trial, leading to a significant stock price drop of $10.17 per share, or 69.99%, closing at $4.36 per share on October 23, 2024 [7]. - Following the announcement, analysts, including Jeffries, reduced their price target for Alto from $33 to $17, expressing concerns about the company's biomarker approach to CNS disorders and psychiatry [8].