Maplight Therapeutics (NASDAQ:MPLT) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Maplight Therapeutics (NASDAQ:MPLT) from a hold rating to a sell rating in a research report released on Saturday morning.

A number of other analysts have also weighed in on MPLT. Canaccord Genuity Group assumed coverage on shares of Maplight Therapeutics in a research note on Thursday, March 19th. They issued a “buy” rating and a $35.00 price target for the company. Weiss Ratings initiated coverage on shares of Maplight Therapeutics in a research note on Thursday, January 22nd. They set a “sell (e)” rating on the stock. Morgan Stanley started coverage on Maplight Therapeutics in a report on Friday, November 21st. They set an “overweight” rating and a $34.00 target price on the stock. Jefferies Financial Group began coverage on Maplight Therapeutics in a research report on Friday, November 21st. They issued a “buy” rating and a $32.00 target price for the company. Finally, Leerink Partners started coverage on Maplight Therapeutics in a research note on Friday, November 21st. They set an “outperform” rating and a $30.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Maplight Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $31.80.

Maplight Therapeutics Stock Down 2.7%

Shares of MPLT opened at $17.08 on Friday. The company has a market cap of $774.92 million and a price-to-earnings ratio of -0.46. The firm has a 50-day moving average of $17.84. Maplight Therapeutics has a 52-week low of $12.24 and a 52-week high of $21.55.

Insider Activity

In other Maplight Therapeutics news, Director Timothy John Garnett bought 14,124 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was acquired at an average cost of $17.89 per share, with a total value of $252,678.36. Following the completion of the purchase, the director directly owned 14,124 shares in the company, valued at approximately $252,678.36. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert C. Malenka sold 21,262 shares of the stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $18.55, for a total transaction of $394,410.10. Following the sale, the director directly owned 371,885 shares of the company’s stock, valued at approximately $6,898,466.75. This represents a 5.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders acquired 39,124 shares of company stock worth $693,846 and sold 74,612 shares worth $1,368,065.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MPLT. Strs Ohio acquired a new stake in shares of Maplight Therapeutics during the 4th quarter valued at $53,000. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Maplight Therapeutics during the 4th quarter worth $70,000. New York State Common Retirement Fund acquired a new position in shares of Maplight Therapeutics in the 4th quarter worth $93,000. MetLife Investment Management LLC acquired a new stake in shares of Maplight Therapeutics during the fourth quarter worth $172,000. Finally, Walleye Capital LLC acquired a new stake in shares of Maplight Therapeutics during the fourth quarter worth $205,000.

Maplight Therapeutics Company Profile

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.