Alto Neuroscience(US:ANRO) Prnewswireยท2025-09-06 13:33Core 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 - The firm is reminding investors of the September 19, 2025 deadline to seek the role of lead plaintiff in a federal securities class action against Alto [2]. - The complaint alleges that Alto and its executives violated federal securities laws by making false statements about ALTO-100's effectiveness and overstating the company's business prospects [4][5]. Group 2: Financial Impact - Following the announcement that ALTO-100 did not meet its primary endpoint in a Phase 2b trial, 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 cutting their price target for Alto from $33 to $17, raising concerns about the company's overall approach to CNS disorders and psychiatry [6]. Group 3: Class Action Details - The lead plaintiff in the class action will be the investor with the largest financial interest who is typical of class members [7]. - Faruqi & Faruqi encourages anyone with information regarding Alto's conduct to contact the firm, including whistleblowers and former employees [7].