Maplight Therapeutics (NASDAQ:MPLT) Shares Gap Down – Should You Sell?

Maplight Therapeutics, Inc. (NASDAQ:MPLT)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $16.80, but opened at $16.04. Maplight Therapeutics shares last traded at $16.37, with a volume of 6,739 shares trading hands.

Analyst Upgrades and Downgrades

MPLT has been the subject of a number of recent analyst reports. Wall Street Zen raised Maplight Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, December 20th. Weiss Ratings began coverage on Maplight Therapeutics in a research report on Thursday, January 22nd. They issued a “sell (e)” rating on the stock. Leerink Partners initiated coverage on Maplight Therapeutics in a report on Friday, November 21st. They issued an “outperform” rating and a $30.00 price objective for the company. Morgan Stanley began coverage on shares of Maplight Therapeutics in a report on Friday, November 21st. They set an “overweight” rating and a $34.00 price target for the company. Finally, Zacks Research raised Maplight Therapeutics to a “hold” rating in a research report on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.00.

Maplight Therapeutics Trading Up 8.2%

The company’s 50-day moving average is $17.93. The stock has a market capitalization of $770.38 million and a P/E ratio of -0.46.

Maplight Therapeutics (NASDAQ:MPLT) last issued its earnings results on Thursday, December 4th. The company reported ($37.18) EPS for the quarter, missing the consensus estimate of ($1.86) by ($35.32).

Insider Activity

In other news, Director Robert C. Malenka sold 21,262 shares of the company’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $18.55, for a total transaction of $394,410.10. Following the transaction, the director owned 371,885 shares of the company’s stock, valued at $6,898,466.75. This represents a 5.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 41,438 shares of company stock valued at $762,687 over the last three months.

Institutional Investors Weigh In On Maplight Therapeutics

A hedge fund recently bought a new stake in Maplight Therapeutics stock. Strs Ohio purchased a new stake in shares of Maplight Therapeutics, Inc. (NASDAQ:MPLT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,000 shares of the company’s stock, valued at approximately $53,000.

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.