Maplight Therapeutics (NASDAQ:MPLT) Cut to Strong Sell at Wall Street Zen

Wall Street Zen cut shares of Maplight Therapeutics (NASDAQ:MPLT) from a sell rating to a strong sell rating in a research note published on Sunday morning,Wall Street Zen reports.

A number of other brokerages have also issued reports on MPLT. Weiss Ratings lowered shares of Maplight Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 23rd. Craig Hallum reissued a “buy” rating and issued a $25.00 target price on shares of Maplight Therapeutics in a report on Tuesday, July 28th. BMO Capital Markets initiated coverage on shares of Maplight Therapeutics in a report on Monday, July 20th. They issued an “outperform” rating and a $46.00 target price on the stock. Canaccord Genuity Group set a $21.00 target price on shares of Maplight Therapeutics in a research report on Friday, August 14th. Finally, HC Wainwright cut their target price on shares of Maplight Therapeutics from $45.00 to $26.00 and set a “buy” rating for the company in a research note on Tuesday, July 28th. Four equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $29.50.

Maplight Therapeutics Trading Up 2.2%

NASDAQ:MPLT opened at $7.44 on Friday. Maplight Therapeutics has a 12-month low of $6.06 and a 12-month high of $40.43. The stock has a 50-day moving average price of $9.70 and a 200 day moving average price of $20.02.

Maplight Therapeutics (NASDAQ:MPLT) last issued its earnings results on Thursday, August 13th. The company reported ($1.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.40) by $0.08. On average, equities research analysts anticipate that Maplight Therapeutics will post -5.01 earnings per share for the current year.

Insider Activity at Maplight Therapeutics

In other Maplight Therapeutics news, CFO Jonathan Gillis sold 10,167 shares of the firm’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $8.08, for a total transaction of $82,149.36. Following the completion of the transaction, the chief financial officer owned 142,315 shares in the company, valued at $1,149,905.20. This trade represents a 6.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Anatol Kreitzer sold 12,248 shares of Maplight Therapeutics stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $7.84, for a total value of $96,024.32. Following the completion of the sale, the insider directly owned 168,678 shares in the company, valued at approximately $1,322,435.52. The trade was a 6.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 122,974 shares of company stock valued at $990,690 in the last 90 days. 3.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Global Retirement Partners LLC raised its stake in Maplight Therapeutics by 5,244.4% during the third quarter. Global Retirement Partners LLC now owns 3,367 shares of the company’s stock valued at $34,000 after purchasing an additional 3,304 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Maplight Therapeutics by 12.4% in the 2nd quarter. Wellington Management Group LLP now owns 51,917 shares of the company’s stock worth $1,861,000 after buying an additional 5,709 shares in the last quarter. Bank of America Corp DE purchased a new position in shares of Maplight Therapeutics in the 2nd quarter worth $1,952,000. Freestone Grove Partners LP purchased a new position in shares of Maplight Therapeutics in the 2nd quarter worth $6,054,000. Finally, 5AM Venture Management LLC bought a new stake in shares of Maplight Therapeutics in the 2nd quarter worth about $34,048,394.

About Maplight Therapeutics

MapLight Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing treatments for neuropsychiatric and neurological disorders. The company’s research is centered on therapies designed to address underlying dysfunction in brain circuits and improve symptoms associated with serious conditions affecting the central nervous system. MapLight is advancing a pipeline of investigational drug candidates through preclinical and clinical development. Its programs are intended to target significant unmet needs in areas such as schizophrenia and other neuropsychiatric conditions.