Maplight Therapeutics (NASDAQ:MPLT) Stock Price Up 8.9% – Here’s Why
by Mitch Edgeman · The Markets DailyMaplight Therapeutics, Inc. (NASDAQ:MPLT – Get Free Report) shares traded up 8.9% on Monday . The company traded as high as $21.51 and last traded at $20.7650. 79,093 shares were traded during mid-day trading, a decline of 54% from the average session volume of 170,182 shares. The stock had previously closed at $19.07.
Analysts Set New Price Targets
Several research firms recently commented on MPLT. Wall Street Zen upgraded shares of Maplight Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, December 20th. Morgan Stanley started coverage on shares of Maplight Therapeutics in a research report on Friday, November 21st. They issued an “overweight” rating and a $34.00 target price for the company. Leerink Partners assumed coverage on shares of Maplight Therapeutics in a research note on Friday, November 21st. They set an “outperform” rating and a $30.00 target price for the company. Weiss Ratings started coverage on shares of Maplight Therapeutics in a report on Thursday, January 22nd. They set a “sell (e)” rating on the stock. Finally, Stifel Nicolaus started coverage on Maplight Therapeutics in a report on Friday, November 21st. They set a “buy” rating and a $28.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.
View Our Latest Report on Maplight Therapeutics
Maplight Therapeutics Stock Down 5.3%
The company has a market cap of $767.66 million and a PE ratio of -0.45. The business has a fifty day moving average of $17.86.
Insider Transactions at Maplight Therapeutics
In other news, Director George Pavlov purchased 10,658 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were purchased at an average cost of $17.48 per share, for a total transaction of $186,301.84. Following the completion of the purchase, the director directly owned 10,658 shares of the company’s stock, valued at approximately $186,301.84. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy John Garnett bought 14,124 shares of Maplight Therapeutics stock in a transaction that occurred on Tuesday, February 10th. The stock was purchased at an average cost of $17.89 per share, with a total value of $252,678.36. Following the completion of the transaction, the director owned 14,124 shares of the company’s stock, valued at $252,678.36. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have acquired 39,124 shares of company stock worth $693,846 and have sold 74,612 shares worth $1,368,065.
Hedge Funds Weigh In On Maplight Therapeutics
A number of institutional investors have recently modified their holdings of MPLT. Fcpm Iii Services B.V. bought a new position in shares of Maplight Therapeutics in the 4th quarter worth $56,672,000. T. Rowe Price Investment Management Inc. acquired a new stake in Maplight Therapeutics during the 4th quarter worth approximately $49,154,000. Goldman Sachs Group Inc. bought a new position in Maplight Therapeutics in the fourth quarter valued at approximately $34,026,000. Nan Fung Group Holdings Ltd acquired a new position in shares of Maplight Therapeutics in the fourth quarter valued at approximately $17,060,000. Finally, 5AM Venture Management LLC bought a new stake in shares of Maplight Therapeutics during the fourth quarter worth $16,687,000.
About Maplight Therapeutics
We are a clinical-stage biopharmaceutical company focused on improving the lives of patients suffering from debilitating central nervous system, or CNS, disorders. We were founded by globally recognized leaders in psychiatry and neuroscience research to address the lack of circuit-specific pharmacotherapies available for patients. Our discovery platform holds the potential to fill this void by identifying neural circuits causally linked to disease and targeting those circuits for therapeutic modulation.