Vigil Neuroscience (NASDAQ:VIGL) Cut to “Hold” at Wedbush

Vigil Neuroscience (NASDAQ:VIGL) was downgraded by equities researchers at Wedbush from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday, Marketbeat.com reports. They presently have a $8.00 target price on the stock, down from their prior target price of $13.00. Wedbush’s price target indicates a potential upside of 1.52% from the company’s previous close.

VIGL has been the subject of a number of other reports. Guggenheim reaffirmed a “buy” rating on shares of Vigil Neuroscience in a research report on Friday, January 24th. HC Wainwright reduced their price objective on shares of Vigil Neuroscience from $17.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, March 14th. Finally, William Blair downgraded shares of Vigil Neuroscience from an “outperform” rating to a “market perform” rating in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $13.00.

Vigil Neuroscience Price Performance

NASDAQ:VIGL opened at $7.88 on Thursday. The firm has a 50-day moving average of $2.07 and a 200-day moving average of $2.27. The company has a market cap of $367.78 million, a PE ratio of -3.83 and a beta of 1.90. Vigil Neuroscience has a one year low of $1.31 and a one year high of $7.95.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC boosted its stake in Vigil Neuroscience by 53.0% in the fourth quarter. Cubist Systematic Strategies LLC now owns 24,120 shares of the company’s stock valued at $41,000 after acquiring an additional 8,358 shares during the last quarter. Northern Trust Corp boosted its stake in Vigil Neuroscience by 29.0% in the fourth quarter. Northern Trust Corp now owns 64,737 shares of the company’s stock valued at $110,000 after acquiring an additional 14,572 shares during the last quarter. Barclays PLC boosted its stake in Vigil Neuroscience by 43.6% in the fourth quarter. Barclays PLC now owns 64,049 shares of the company’s stock valued at $109,000 after acquiring an additional 19,436 shares during the last quarter. Two Sigma Investments LP boosted its stake in Vigil Neuroscience by 44.0% in the fourth quarter. Two Sigma Investments LP now owns 136,920 shares of the company’s stock valued at $233,000 after acquiring an additional 41,836 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in Vigil Neuroscience in the fourth quarter valued at about $83,000. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

About Vigil Neuroscience

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.