Maplight Therapeutics (NASDAQ:MPLT) Stock Price Down 5.4% – What’s Next?

Maplight Therapeutics, Inc. (NASDAQ:MPLT)’s stock price dropped 5.4% on Monday . The stock traded as low as $36.09 and last traded at $35.09. Approximately 11,594 shares changed hands during trading, a decline of 96% from the average daily volume of 277,231 shares. The stock had previously closed at $37.09.

Analyst Upgrades and Downgrades

Several brokerages have commented on MPLT. Benchmark reaffirmed a “buy” rating on shares of Maplight Therapeutics in a research report on Monday, June 22nd. TD Cowen started coverage on shares of Maplight Therapeutics in a research note on Tuesday, April 7th. They issued a “buy” rating on the stock. HC Wainwright reaffirmed a “buy” rating on shares of Maplight Therapeutics in a research report on Monday, June 22nd. Wall Street Zen cut shares of Maplight Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Finally, Lifesci Capital raised shares of Maplight Therapeutics to a “strong-buy” rating in a report on Thursday, May 14th. Four investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Maplight Therapeutics has a consensus rating of “Buy” and an average target price of $38.80.

Maplight Therapeutics Price Performance

The business has a 50 day moving average of $29.91 and a 200 day moving average of $23.10. The firm has a market capitalization of $1.51 billion and a price-to-earnings ratio of -0.86.

Maplight Therapeutics (NASDAQ:MPLT) last issued its earnings results on Thursday, May 14th. The company reported ($1.34) earnings per share for the quarter, missing the consensus estimate of ($0.91) by ($0.43). On average, sell-side analysts forecast that Maplight Therapeutics, Inc. will post -5.13 EPS for the current fiscal year.

Insider Activity

In other Maplight Therapeutics news, insider Erin Pennock Foff sold 24,052 shares of Maplight Therapeutics stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $28.76, for a total transaction of $691,735.52. Following the completion of the transaction, the insider directly owned 350,497 shares of the company’s stock, valued at approximately $10,080,293.72. This trade represents a 6.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jonathan Gillis sold 51,900 shares of the stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $29.74, for a total transaction of $1,543,506.00. Following the sale, the insider owned 199,154 shares of the company’s stock, valued at $5,922,839.96. This trade represents a 20.67% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 495,244 shares of company stock valued at $14,079,461. 3.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Maplight Therapeutics

A number of institutional investors have recently modified their holdings of MPLT. Janus Henderson Group PLC bought a new position in Maplight Therapeutics in the 1st quarter worth approximately $1,113,000. ADAR1 Capital Management LLC bought a new position in Maplight Therapeutics during the first quarter worth about $7,622,000. Bank of New York Mellon Corp grew its holdings in 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 purchasing an additional 3,608 shares during the period. T. Rowe Price Investment Management Inc. bought a new stake in shares of Maplight Therapeutics in the 4th quarter valued at $49,168,000. Finally, Invesco Ltd. acquired a new position in Maplight Therapeutics in the fourth quarter valued at about $228,000.

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.