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Securities law

Securities Class Action Filed Against Alto Neuroscience, Inc.

Strategic Insights

— 2 min read

Investors who purchased or acquired Alto common stock in the initial public offering conducted on or about February 2, 2024, or between February 2, 2024, and October 22, 2024, may be able to seek compensation for their losses through a federal securities class action lawsuit. Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Alto Neuroscience, Inc. and reminds investors of the September 19, 2025 deadline to seek the role of lead plaintiff.

The complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that ALTO-100 was less effective in treating major depressive disorder (MDD) than defendants had led investors to believe. On October 22, 2024, Alto issued a press release announcing topline results from the Phase 2b trial evaluating ALTO-100 as a treatment for MDD, which stated that "ALTO-100 in patients with [MDD] did not meet its primary endpoint, assessed by a change from baseline in Montgomery-Åsberg Depression Rating Scale (MADRS), compared to placebo." This news caused Alto's stock price to fall by $10.17 per share, or 69.99%, to close at $4.36 per share on October 23, 2024.

Key Takeaways:

  • The securities class action lawsuit alleges that Alto and its executives made false and/or misleading statements about the effectiveness of ALTO-100 in treating MDD.
  • The complaint claims that Alto's business and/or financial prospects were overstated due to the Company's alleged misrepresentations.
  • The lead plaintiff in the class action lawsuit is the investor with the largest financial interest in the relief sought by the class.
  • Any member of the putative class can move the Court to serve as lead plaintiff through counsel of their choice.

Statistics:

  • $10.17: the amount by which Alto's stock price fell per share on October 23, 2024.
  • 69.99%: the percentage by which Alto's stock price fell on October 23, 2024.
  • $4.36: the closing price of Alto's stock on October 23, 2024.
  • October 22, 2024: the date when Alto issued a press release announcing topline results from the Phase 2b trial evaluating ALTO-100 as a treatment for MDD.
  • October 23, 2024: the date when Alto's stock price fell after the Company's press release.

Sources:

  • Newsfile Corp. - September 8, 2025
  • Faruqi & Faruqi, LLP - www.faruqilaw.com
  • New York, New York--(Newsfile Corp. - September 8, 2025) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Alto Neuroscience, Inc. ("Alto" or the "Company") (NYSE: ANRO) and reminds investors of the September 19, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

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