Maplight Therapeutics (NASDAQ:MPLT) Sees Unusually-High Trading Volume Following Insider Buying Activity

Shares of Maplight Therapeutics, Inc. (NASDAQ:MPLT) saw unusually-strong trading volume on Tuesday following insider buying activity. Approximately 4,247,610 shares traded hands during trading, an increase of 982% from the previous session’s volume of 392,687 shares.The stock last traded at $11.8450 and had previously closed at $9.90.

Specifically, Director Troy Cox acquired 15,620 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was bought at an average cost of $9.52 per share, with a total value of $148,702.40. Following the transaction, the director owned 15,620 shares of the company’s stock, valued at $148,702.40. The trade was a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wolfe Research restated an “outperform” rating and set a $30.00 price objective on shares of Maplight Therapeutics in a research report on Monday. Stifel Nicolaus increased their price target on shares of Maplight Therapeutics from $28.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, June 1st. TD Cowen started coverage on shares of Maplight Therapeutics in a research report on Tuesday, April 7th. They issued a “buy” rating for the company. Needham & Company LLC boosted their target price on Maplight Therapeutics from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Finally, Canaccord Genuity Group reduced their price target on Maplight Therapeutics from $43.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday. Four analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $34.42.

Maplight Therapeutics Trading Down 7.1%

The firm has a 50 day moving average price of $31.28 and a 200-day moving average price of $24.99. The firm has a market cap of $594.69 million and a price-to-earnings ratio of -0.35.

Maplight Therapeutics (NASDAQ:MPLT) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($1.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.43). As a group, equities analysts expect that Maplight Therapeutics, Inc. will post -5.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Maplight Therapeutics

Institutional investors have recently made changes to their positions in the stock. Strs Ohio acquired a new stake in shares of Maplight Therapeutics during the fourth quarter valued at $53,000. Police & Firemen s Retirement System of New Jersey purchased a new position in Maplight Therapeutics in the 4th quarter valued at about $70,000. New York State Common Retirement Fund acquired a new stake in shares of Maplight Therapeutics during the 4th quarter worth about $93,000. MetLife Investment Management LLC acquired a new stake in shares of Maplight Therapeutics during the 4th quarter worth about $172,000. Finally, Walleye Capital LLC purchased a new stake in shares of Maplight Therapeutics during the fourth quarter worth about $205,000.

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.