Maplight Therapeutics (NASDAQ:MPLT) Stock Price Up 5.6% – What’s Next?

Shares of Maplight Therapeutics, Inc. (NASDAQ:MPLT) traded up 5.6% during trading on Thursday . The company traded as high as $19.19 and last traded at $19.1550. 30,911 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 189,700 shares. The stock had previously closed at $18.14.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MPLT. Wall Street Zen lowered shares of Maplight Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Weiss Ratings initiated coverage on shares of Maplight Therapeutics in a report on Thursday, January 22nd. They issued a “sell (e)” rating for the company. Finally, Canaccord Genuity Group started coverage on shares of Maplight Therapeutics in a research report on Thursday, March 19th. They set a “buy” rating and a $35.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Maplight Therapeutics has an average rating of “Moderate Buy” and an average price target of $31.80.

Maplight Therapeutics Stock Performance

The firm has a market capitalization of $863.99 million and a PE ratio of -0.51. The firm’s fifty day moving average price is $17.82.

Insider Buying and Selling

In related news, Director Timothy John Garnett bought 14,124 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were acquired at an average cost of $17.89 per share, with a total value of $252,678.36. Following the completion of the purchase, the director directly owned 14,124 shares of the company’s stock, valued at $252,678.36. This trade represents a ? increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director George Pavlov bought 10,658 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were bought at an average price of $17.48 per share, with a total value of $186,301.84. Following the completion of the transaction, the director owned 10,658 shares of the company’s stock, valued at $186,301.84. The trade was a ? increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have purchased 39,124 shares of company stock worth $693,846 and have sold 74,612 shares worth $1,368,065.

Institutional Trading of Maplight Therapeutics

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