Maplight Therapeutics (NASDAQ:MPLT) Insider Sells $126,660.52 in Stock

Maplight Therapeutics, Inc. (NASDAQ:MPLT) insider Erin Pennock Foff sold 4,438 shares of Maplight Therapeutics stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $28.54, for a total transaction of $126,660.52. Following the completion of the transaction, the insider directly owned 346,059 shares of the company’s stock, valued at $9,876,523.86. This trade represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 stock was sold at an average price of $28.76, for a total transaction of $691,735.52.
• On Tuesday, May 5th, Erin Pennock Foff sold 10,576 shares of Maplight Therapeutics stock. The stock was sold at an average price of $28.20, for a total transaction of $298,243.20.
• On Monday, May 4th, Erin Pennock Foff sold 15,652 shares of Maplight Therapeutics stock. The shares were sold at an average price of $27.96, for a total transaction of $437,629.92.

Maplight Therapeutics Stock Performance

Shares of MPLT opened at $30.67 on Thursday. The stock has a market cap of $1.31 billion and a price-to-earnings ratio of -0.77. The company’s fifty day moving average is $23.80. Maplight Therapeutics, Inc. has a 1-year low of $12.24 and a 1-year high of $33.28.

Maplight Therapeutics (NASDAQ:MPLT) last announced its earnings results on Thursday, March 26th. The company reported ($2.47) EPS for the quarter, missing analysts’ consensus estimates of ($1.05) by ($1.42). Research analysts expect that Maplight Therapeutics, Inc. will post -3.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MPLT has been the subject of a number of recent analyst reports. Wall Street Zen lowered shares of Maplight Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Weiss Ratings started coverage on shares of Maplight Therapeutics in a research report on Thursday, January 22nd. They set a “sell (e)” rating for the company. TD Cowen started coverage on shares of Maplight Therapeutics in a research report on Tuesday, April 7th. They set a “buy” rating for the company. Needham & Company LLC started coverage on shares of Maplight Therapeutics in a research report on Wednesday, April 8th. They set a “buy” rating and a $37.00 target price for the company. Finally, HC Wainwright started coverage on shares of Maplight Therapeutics in a research report on Monday, May 4th. They set a “buy” rating and a $45.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Maplight Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $34.43.

Institutional Investors Weigh In On Maplight Therapeutics

A number of hedge funds have recently bought and sold shares of MPLT. Strs Ohio purchased a new stake in shares of Maplight Therapeutics in the fourth quarter valued at $53,000. Blue Owl Capital Holdings LP purchased a new stake in shares of Maplight Therapeutics in the fourth quarter valued at $5,745,000. Geode Capital Management LLC purchased a new stake in shares of Maplight Therapeutics in the fourth quarter valued at $6,835,000. Seven Grand Managers LLC purchased a new position in Maplight Therapeutics in the 4th quarter worth about $1,756,000. Finally, Goldman Sachs Group Inc. purchased a new position in Maplight Therapeutics in the 4th quarter worth about $34,026,000.

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.