Shares of Maplight Therapeutics, Inc. (NASDAQ:MPLT – Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $12.17, but opened at $11.06. Maplight Therapeutics shares last traded at $12.3950, with a volume of 150,226 shares trading hands.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the stock. Wolfe Research reiterated an “outperform” rating and set a $30.00 target price on shares of Maplight Therapeutics in a report on Monday, July 27th. Jefferies Financial Group restated a “buy” rating on shares of Maplight Therapeutics in a report on Monday, July 27th. Wall Street Zen cut Maplight Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 1st. Morgan Stanley reiterated an “equal weight” rating and issued a $21.00 price objective (down from $34.00) on shares of Maplight Therapeutics in a research report on Tuesday, July 28th. Finally, Craig Hallum reissued a “buy” rating and set a $25.00 target price on shares of Maplight Therapeutics in a research note on Tuesday, July 28th. Four analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Maplight Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.17.
View Our Latest Analysis on MPLT
Maplight Therapeutics Trading Down 1.6%
Maplight Therapeutics (NASDAQ:MPLT – Get Free Report) last released its quarterly earnings results on Thursday, May 14th. The company reported ($1.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.43). As a group, analysts expect that Maplight Therapeutics, Inc. will post -5.22 earnings per share for the current year.
Insider Transactions at Maplight Therapeutics
In other news, CEO Christopher A. Kroeger sold 118,235 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $27.19, for a total value of $3,214,809.65. Following the completion of the transaction, the chief executive officer owned 1,394,094 shares in the company, valued at $37,905,415.86. This trade represents a 7.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Troy Cox purchased 15,620 shares of Maplight Therapeutics stock in a transaction that occurred on Tuesday, July 28th. The stock was purchased at an average cost of $9.52 per share, for a total transaction of $148,702.40. Following the completion of the purchase, the director owned 15,620 shares of the company’s stock, valued at $148,702.40. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 3.80% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the business. Strs Ohio purchased a new position in Maplight Therapeutics during the 4th quarter valued at about $53,000. Bank of New York Mellon Corp grew its holdings in Maplight Therapeutics by 10.1% in the first quarter. Bank of New York Mellon Corp now owns 39,465 shares of the company’s stock worth $802,000 after purchasing an additional 3,608 shares during the period. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Maplight Therapeutics during the fourth quarter valued at approximately $70,000. New York State Common Retirement Fund purchased a new position in shares of Maplight Therapeutics during the fourth quarter valued at approximately $93,000. Finally, MetLife Investment Management LLC purchased a new position in shares of Maplight Therapeutics during the fourth quarter valued at approximately $172,000.
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.
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