Maplight Therapeutics (NASDAQ:MPLT) Insider Sells 15,355 Shares of Stock

by · The Cerbat Gem

Maplight Therapeutics, Inc. (NASDAQ:MPLT – Get Free Report) insider Erin Pennock Foff sold 15,355 shares of the business’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $8.08, for a total transaction of $124,068.40. Following the completion of the transaction, the insider owned 296,906 shares of the company’s stock, valued at approximately $2,399,000.48. This trade represents a 4.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Maplight Therapeutics Stock Performance

Shares of Maplight Therapeutics stock traded down $0.32 during trading hours on Friday, reaching $7.70. 359,069 shares of the company were exchanged, compared to its average volume of 472,697. The firm has a market cap of $427.94 million and a PE ratio of -0.18. Maplight Therapeutics, Inc. has a 1 year low of $7.46 and a 1 year high of $40.43. The stock’s fifty day moving average is $11.33 and its 200 day moving average is $22.47.

Maplight Therapeutics (NASDAQ:MPLT – Get Free Report) last released its earnings results on Thursday, August 13th. The company reported ($1.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.40) by $0.08. Research analysts expect that Maplight Therapeutics, Inc. will post -5.01 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MPLT. Guggenheim began coverage on Maplight Therapeutics in a research note on Monday, October 5th. They issued a “neutral” rating for the company. Craig Hallum restated a “buy” rating and set a $25.00 target price on shares of Maplight Therapeutics in a research note on Tuesday, July 28th. Canaccord Genuity Group set a $21.00 target price on shares of Maplight Therapeutics in a research note on Friday, August 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Maplight Therapeutics in a report on Friday, October 9th. Finally, Benchmark reiterated a “buy” rating on shares of Maplight Therapeutics in a research note on Monday, June 22nd. Four analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

Check Out Our Latest Analysis on Maplight Therapeutics

Institutional Trading of Maplight Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Maplight Therapeutics during the 2nd quarter worth about $36,741,000. Nan Fung Group Holdings Ltd acquired a new stake in shares of Maplight Therapeutics during the 2nd quarter worth about $34,809,708. 5AM Venture Management LLC acquired a new stake in shares of Maplight Therapeutics during the 4th quarter worth about $16,687,000. Blue Owl Capital Holdings LP purchased a new stake in Maplight Therapeutics during the second quarter worth approximately $26,161,000. Finally, ADAR1 Capital Management LLC purchased a new stake in Maplight Therapeutics during the first quarter worth approximately $7,622,000.

About Maplight Therapeutics

(Get Free Report)

MapLight Therapeutics is a clinical-stage biopharmaceutical company developing medicines for neuropsychiatric and neurological disorders. The company focuses on conditions for which existing treatments may provide limited benefits or cause significant side effects.

MapLight uses a neuroscience-focused drug discovery and development approach to identify therapies intended to address the underlying biology of central nervous system disorders. Its pipeline includes investigational small-molecule treatments being studied for conditions such as schizophrenia and other serious mental health disorders.

The company conducts research and clinical development in the United States.

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