Maplight Therapeutics (NASDAQ:MPLT) Stock Price Up 8.9% – Here’s What Happened

Maplight Therapeutics, Inc. (NASDAQ:MPLT)’s share price traded up 8.9% during trading on Monday . The company traded as high as $21.51 and last traded at $20.7650. 79,093 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 170,182 shares. The stock had previously closed at $19.07.

Analyst Ratings Changes

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

Maplight Therapeutics Trading Down 0.4%

The company’s fifty day moving average is $17.81. The company has a market cap of $861.58 million and a P/E ratio of -0.51.

Insider Buying and Selling

In other Maplight Therapeutics news, Director Robert C. Malenka sold 21,262 shares of the firm’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $18.55, for a total value of $394,410.10. Following the completion of the transaction, the director directly owned 371,885 shares in the company, valued at $6,898,466.75. This trade represents a 5.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy John Garnett bought 14,124 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was purchased at an average cost of $17.89 per share, for a total transaction of $252,678.36. Following the completion of the acquisition, the director owned 14,124 shares in the company, valued at $252,678.36. This trade represents a ? increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders purchased 39,124 shares of company stock valued at $693,846 and sold 74,612 shares valued at $1,368,065.

Hedge Funds Weigh In On Maplight Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Fcpm Iii Services B.V. bought a new stake in shares of Maplight Therapeutics during the 4th quarter worth about $56,672,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of Maplight Therapeutics in the 4th quarter worth approximately $49,154,000. Goldman Sachs Group Inc. purchased a new position in shares of Maplight Therapeutics during the 4th quarter valued at $34,026,000. Nan Fung Group Holdings Ltd bought a new position in Maplight Therapeutics during the fourth quarter worth about $17,060,000. Finally, 5AM Venture Management LLC purchased a new position in Maplight Therapeutics in the 4th quarter valued at approximately $16,687,000.

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.