Maplight Therapeutics (NASDAQ:MPLT) Insider Erin Pennock Foff Sells 15,652 Shares

Maplight Therapeutics, Inc. (NASDAQ:MPLT) insider Erin Pennock Foff sold 15,652 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $27.96, for a total value of $437,629.92. Following the sale, the insider directly owned 385,125 shares of the company’s stock, valued at approximately $10,768,095. This trade represents a 3.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Erin Pennock Foff also recently made the following trade(s):

• On Wednesday, May 6th, Erin Pennock Foff sold 24,052 shares of Maplight Therapeutics stock. The shares were sold at an average price of $28.76, for a total value of $691,735.52.
• On Tuesday, May 5th, Erin Pennock Foff sold 10,576 shares of Maplight Therapeutics stock. The shares were sold at an average price of $28.20, for a total value of $298,243.20.

Maplight Therapeutics Stock Performance

NASDAQ:MPLT opened at $29.04 on Thursday. The stock has a market capitalization of $1.24 billion and a price-to-earnings ratio of -0.73. Maplight Therapeutics, Inc. has a fifty-two week low of $12.24 and a fifty-two week high of $33.28. The company’s 50 day moving average is $22.60.

Maplight Therapeutics (NASDAQ:MPLT) last released its quarterly earnings data on Thursday, March 26th. The company reported ($2.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.05) by ($1.42). As a group, equities research analysts forecast that Maplight Therapeutics, Inc. will post -3.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Maplight Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its holdings in shares of Maplight Therapeutics by 10.1% during the first quarter. Bank of New York Mellon Corp now owns 39,465 shares of the company’s stock valued at $802,000 after acquiring an additional 3,608 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new position in shares of Maplight Therapeutics during the fourth quarter valued at $49,168,000. Invesco Ltd. bought a new position in shares of Maplight Therapeutics during the fourth quarter valued at $228,000. Vestal Point Capital LP bought a new position in shares of Maplight Therapeutics during the fourth quarter valued at $6,763,000. Finally, Tudor Investment Corp ET AL bought a new position in shares of Maplight Therapeutics during the fourth quarter valued at $840,000.

Trending Headlines about Maplight Therapeutics

Here are the key news stories impacting Maplight Therapeutics this week:

• Positive Sentiment: HC Wainwright opened/updated coverage and issued detailed quarterly and FY estimates alongside a Buy rating and a $45 price target (implies ~55% upside from the recent price); the report provides a near?term analyst catalyst and a bullish valuation anchor. HC Wainwright coverage (MarketBeat)
• Positive Sentiment: Needham reaffirmed its Buy rating on MPLT, reinforcing sell?side support that can sustain buying interest. Needham reaffirmation (The Globe and Mail)
• Neutral Sentiment: Morningstar quote/coverage appears in the tape (useful for tracking consensus/third?party data) but contains no new fundamental update by itself. Morningstar MPLT quote
• Negative Sentiment: Significant insider selling reported May 4–6: CEO Christopher Kroeger sold multiple blocks (~23,701 shares on May 6 and earlier sales), CFO Vishwas Setia, and insiders James W. Lillie and Erin P. Foff also sold material stakes. These transactions reduce insider holdings and may add near?term supply pressure, though each sale was made under pre?arranged Rule 10b5?1 plans (which weakens the signal that sales reflect new negative company information). See CEO Form 4 filing. CEO Form 4 (SEC)
• Negative Sentiment: Additional insider Form 4 filings for James W. Lillie and Erin P. Foff confirm multi?day sales at similar prices (May 4–6). Investors should monitor total sold vs. remaining insider ownership and trading volume to gauge impact. James W. Lillie Form 4 (SEC)

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. HC Wainwright assumed coverage on Maplight Therapeutics in a report on Monday. They issued a “buy” rating and a $45.00 price objective for the company. Wall Street Zen downgraded Maplight Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Needham & Company LLC assumed coverage on Maplight Therapeutics in a report on Wednesday, April 8th. They issued a “buy” rating and a $37.00 price objective for the company. Weiss Ratings assumed coverage on Maplight Therapeutics in a report on Thursday, January 22nd. They issued a “sell (e)” rating for the company. Finally, TD Cowen assumed coverage on Maplight Therapeutics in a report on Tuesday, April 7th. They issued a “buy” rating for the company. One analyst has rated the stock with a Strong Buy rating, seven 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.43.

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.