Maplight Therapeutics (NASDAQ:MPLT) Insider Erin Pennock Foff Sells 10,576 Shares

Maplight Therapeutics, Inc. (NASDAQ:MPLT) insider Erin Pennock Foff sold 10,576 shares of Maplight Therapeutics stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $28.20, for a total transaction of $298,243.20. Following the completion of the transaction, the insider directly owned 374,549 shares of the company’s stock, valued at $10,562,281.80. This trade represents a 2.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Erin Pennock Foff also recently made the following trade(s):

• On Wednesday, May 6th, Erin Pennock Foff sold 24,052 shares of Maplight Therapeutics stock. The stock was sold at an average price of $28.76, for a total transaction of $691,735.52.
• On Monday, May 4th, Erin Pennock Foff sold 15,652 shares of Maplight Therapeutics stock. The stock was sold at an average price of $27.96, for a total transaction of $437,629.92.

Maplight Therapeutics Price Performance

Shares of Maplight Therapeutics stock opened at $29.04 on Thursday. The stock has a market capitalization of $1.24 billion and a PE ratio of -0.73. Maplight Therapeutics, Inc. has a 52-week low of $12.24 and a 52-week high of $33.28. The business has a 50-day moving average price of $22.60.

Maplight Therapeutics (NASDAQ:MPLT) last issued its earnings results on Thursday, March 26th. The company reported ($2.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.05) by ($1.42). On average, research analysts forecast that Maplight Therapeutics, Inc. will post -3.96 earnings per share for the current fiscal year.

Key Maplight Therapeutics News

Here are the key news stories impacting Maplight Therapeutics this week:

• Positive Sentiment: HC Wainwright opened/updated coverage and issued detailed quarterly and FY estimates alongside a Buy rating and a $45 price target (implies ~55% upside from the recent price); the report provides a near?term analyst catalyst and a bullish valuation anchor. HC Wainwright coverage (MarketBeat)
• Positive Sentiment: Needham reaffirmed its Buy rating on MPLT, reinforcing sell?side support that can sustain buying interest. Needham reaffirmation (The Globe and Mail)
• Neutral Sentiment: Morningstar quote/coverage appears in the tape (useful for tracking consensus/third?party data) but contains no new fundamental update by itself. Morningstar MPLT quote
• Negative Sentiment: Significant insider selling reported May 4–6: CEO Christopher Kroeger sold multiple blocks (~23,701 shares on May 6 and earlier sales), CFO Vishwas Setia, and insiders James W. Lillie and Erin P. Foff also sold material stakes. These transactions reduce insider holdings and may add near?term supply pressure, though each sale was made under pre?arranged Rule 10b5?1 plans (which weakens the signal that sales reflect new negative company information). See CEO Form 4 filing. CEO Form 4 (SEC)
• Negative Sentiment: Additional insider Form 4 filings for James W. Lillie and Erin P. Foff confirm multi?day sales at similar prices (May 4–6). Investors should monitor total sold vs. remaining insider ownership and trading volume to gauge impact. James W. Lillie Form 4 (SEC)

Analysts Set New Price Targets

A number of analysts have recently commented on MPLT shares. TD Cowen started coverage on shares of Maplight Therapeutics in a research note on Tuesday, April 7th. They issued a “buy” rating for the company. Weiss Ratings started coverage on shares of Maplight Therapeutics in a research note on Thursday, January 22nd. They issued a “sell (e)” rating for the company. Canaccord Genuity Group started 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. Needham & Company LLC started coverage on shares of Maplight Therapeutics in a research note on Wednesday, April 8th. They issued a “buy” rating and a $37.00 price target for the company. Finally, HC Wainwright started coverage on shares of Maplight Therapeutics in a research note on Monday. They issued a “buy” rating and a $45.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.43.

Institutional Trading of Maplight Therapeutics

Large investors have recently added to or reduced their stakes in the business. Strs Ohio bought a new stake in Maplight Therapeutics during the fourth quarter valued at approximately $53,000. Police & Firemen s Retirement System of New Jersey bought a new stake in Maplight Therapeutics during the fourth quarter valued at approximately $70,000. New York State Common Retirement Fund bought a new stake in Maplight Therapeutics during the fourth quarter valued at approximately $93,000. MetLife Investment Management LLC bought a new stake in Maplight Therapeutics during the fourth quarter valued at approximately $172,000. Finally, Walleye Capital LLC bought a new stake in Maplight Therapeutics during the fourth quarter valued at approximately $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.