Insider Selling: Maplight Therapeutics (NASDAQ:MPLT) Director Sells 6,622 Shares of Stock

Maplight Therapeutics, Inc. (NASDAQ:MPLT) Director Robert Malenka sold 6,622 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $18.12, for a total value of $119,990.64. Following the transaction, the director directly owned 351,611 shares of the company’s stock, valued at $6,371,191.32. This represents a 1.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Maplight Therapeutics Stock Performance

Shares of NASDAQ:MPLT traded down $0.55 during midday trading on Thursday, reaching $17.22. The company had a trading volume of 129,264 shares, compared to its average volume of 191,375. Maplight Therapeutics, Inc. has a 1-year low of $12.24 and a 1-year high of $21.55. The firm has a market capitalization of $781.27 million and a PE ratio of -0.46. The company’s 50 day moving average is $18.20.

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

Wall Street Analysts Forecast Growth

MPLT has been the subject of several recent research reports. Leerink Partners assumed coverage on Maplight Therapeutics in a research note on Friday, November 21st. They issued an “outperform” rating and a $30.00 price target for the company. Weiss Ratings began coverage on shares of Maplight Therapeutics in a research note on Thursday, January 22nd. They issued a “sell (e)” rating on the stock. Jefferies Financial Group started coverage on shares of Maplight Therapeutics in a research note on Friday, November 21st. They issued a “buy” rating and a $32.00 price objective for the company. Stifel Nicolaus initiated coverage on shares of Maplight Therapeutics in a research report on Friday, November 21st. They set a “buy” rating and a $28.00 target price on the stock. Finally, Wall Street Zen upgraded shares of Maplight Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, December 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Maplight Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $31.00.

Institutional Investors Weigh In On Maplight Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Strs Ohio bought a new stake in shares of Maplight Therapeutics during the fourth quarter worth $53,000. New York State Common Retirement Fund acquired a new stake in shares of Maplight Therapeutics during the 4th quarter valued at $93,000. MetLife Investment Management LLC acquired a new position in Maplight Therapeutics in the 4th quarter worth about $172,000. Deutsche Bank AG bought a new position in Maplight Therapeutics in the fourth quarter valued at about $210,000. Finally, Nuveen LLC acquired a new stake in shares of Maplight Therapeutics during the fourth quarter valued at about $355,000.

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.