Vigil Neuroscience, Inc. (NASDAQ:VIGL) Sees Large Drop in Short Interest

Vigil Neuroscience, Inc. (NASDAQ:VIGL) was the recipient of a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 419,400 shares, a decrease of 25.6% from the February 28th total of 564,000 shares. Based on an average daily volume of 1,010,000 shares, the days-to-cover ratio is currently 0.4 days. Currently, 1.9% of the shares of the company are short sold.

Vigil Neuroscience Stock Up 1.1 %

Shares of NASDAQ:VIGL opened at $1.91 on Friday. Vigil Neuroscience has a 52 week low of $1.49 and a 52 week high of $6.06. The company has a 50-day moving average price of $2.35 and a 200 day moving average price of $2.67. The company has a market cap of $89.14 million, a P/E ratio of -0.93 and a beta of 1.82.

Vigil Neuroscience (NASDAQ:VIGL) last posted its quarterly earnings results on Thursday, March 13th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.08). Analysts expect that Vigil Neuroscience will post -2.07 EPS for the current year.

Hedge Funds Weigh In On Vigil Neuroscience

A number of institutional investors and hedge funds have recently made changes to their positions in VIGL. Walleye Capital LLC boosted its holdings in Vigil Neuroscience by 334.4% during the third quarter. Walleye Capital LLC now owns 119,792 shares of the company’s stock worth $407,000 after buying an additional 92,217 shares in the last quarter. Verition Fund Management LLC purchased a new stake in shares of Vigil Neuroscience during the 3rd quarter worth approximately $442,000. Point72 Asset Management L.P. grew its holdings in shares of Vigil Neuroscience by 7.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,600,000 shares of the company’s stock worth $5,440,000 after acquiring an additional 115,000 shares during the period. Geode Capital Management LLC increased its stake in Vigil Neuroscience by 41.9% in the 3rd quarter. Geode Capital Management LLC now owns 226,083 shares of the company’s stock valued at $769,000 after purchasing an additional 66,712 shares in the last quarter. Finally, abrdn plc raised its holdings in Vigil Neuroscience by 124.9% during the fourth quarter. abrdn plc now owns 528,472 shares of the company’s stock worth $898,000 after purchasing an additional 293,461 shares during the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on VIGL shares. Guggenheim reissued a “buy” rating on shares of Vigil Neuroscience in a research report on Friday, January 24th. HC Wainwright lowered their price target on Vigil Neuroscience from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, March 14th. William Blair started coverage on Vigil Neuroscience in a research note on Wednesday, December 4th. They set an “outperform” rating for the company. Finally, Wedbush lowered their target price on Vigil Neuroscience from $24.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, March 14th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $16.25.

Vigil Neuroscience Company Profile

Vigil Neuroscience, Inc, a clinical-stage biotechnology company, focuses on developing treatments for rare and common neurodegenerative diseases by restoring the vigilance of microglia, the sentinel immune cells of the brain. Its lead candidate is VGL101(Iluzanebart), a human monoclonal antibody agonist targeting human triggering receptor expressed on myeloid cells 2 and is in a Phase 2 trial in patients with adult-onset leukoencephalopathy with axonal spheroids and pigmented glia (ALSP), a rare and fatal neurodegenerative disease.