Vigil Neuroscience, Inc. (NASDAQ:VIGL) Short Interest Up 314.3% in July

Key Points

• Vigil Neuroscience experienced a drastic rise in short interest, increasing by 314.3% from June to July, totaling 447,400 shares shorted.
• Several analysts have downgraded their ratings for Vigil Neuroscience, with price targets now set at $8.00 and a consensus rating of "Hold."
• Institutional investors control approximately 83.64% of Vigil Neuroscience's stock, with significant increases in holdings by firms like BVF Inc. and Aberdeen Group.

Vigil Neuroscience, Inc. (NASDAQ:VIGL - Get Free Report) was the recipient of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 447,400 shares, agrowthof314.3% from the June 30th total of 108,000 shares. Based on an average trading volume of 1,420,000 shares, the days-to-cover ratio is presently 0.3 days. Currently,1.4% of the company's stock are sold short. Currently,1.4% of the company's stock are sold short. Based on an average trading volume of 1,420,000 shares, the days-to-cover ratio is presently 0.3 days.

Analyst Upgrades and Downgrades

VIGL has been the subject of a number of research analyst reports. HC Wainwright lowered shares of Vigil Neuroscience from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $14.00 to $8.00 in a research report on Tuesday, May 27th. William Blair cut Vigil Neuroscience from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 22nd. JMP Securities restated a "market perform" rating on shares of Vigil Neuroscience in a report on Thursday, May 22nd. Citizens Jmp lowered shares of Vigil Neuroscience from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Citigroup downgraded shares of Vigil Neuroscience to a "market perform" rating in a report on Thursday, May 22nd. Ten investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Vigil Neuroscience has a consensus rating of "Hold" and a consensus target price of $10.80.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC boosted its stake in Vigil Neuroscience by 53.0% during the fourth quarter. Cubist Systematic Strategies LLC now owns 24,120 shares of the company's stock worth $41,000 after buying an additional 8,358 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Vigil Neuroscience in the fourth quarter valued at about $193,000. Barclays PLC raised its position in Vigil Neuroscience by 43.6% in the fourth quarter. Barclays PLC now owns 64,049 shares of the company's stock worth $109,000 after purchasing an additional 19,436 shares in the last quarter. Jane Street Group LLC acquired a new position in Vigil Neuroscience in the fourth quarter worth about $83,000. Finally, Millennium Management LLC lifted its stake in Vigil Neuroscience by 23.3% during the fourth quarter. Millennium Management LLC now owns 343,814 shares of the company's stock worth $584,000 after purchasing an additional 65,058 shares during the period. 83.64% of the stock is currently owned by institutional investors and hedge funds.

Vigil Neuroscience Stock Performance

Shares of VIGL traded up $0.02 during trading hours on Wednesday, reaching $8.07. 5,506,700 shares of the company traded hands, compared to its average volume of 1,089,775. The stock's fifty day moving average is $7.98 and its 200 day moving average is $4.35. Vigil Neuroscience has a 1-year low of $1.31 and a 1-year high of $8.10. The stock has a market cap of $384.86 million, a P/E ratio of -3.94 and a beta of 3.33.

Vigil Neuroscience (NASDAQ:VIGL - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.49) EPS for the quarter, beating the consensus estimate of ($0.53) by $0.04. On average, equities research analysts predict that Vigil Neuroscience will post -2.07 EPS for the current year.

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.