Maplight Therapeutics, Inc.’s Lock-Up Period Set To End on April 27th (NASDAQ:MPLT)

Maplight Therapeutics’ (NASDAQ:MPLT) lock-up period will end on Monday, April 27th. Maplight Therapeutics had issued 14,750,000 shares in its initial public offering on October 27th. The total size of the offering was $250,750,000 based on an initial share price of $17.00. After the expiration of Maplight Therapeutics’ lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Analysts Set New Price Targets

A number of research analysts have commented on MPLT shares. Canaccord Genuity Group started coverage on Maplight Therapeutics in a research note on Thursday, March 19th. They issued a “buy” rating and a $35.00 target price on the stock. Weiss Ratings began coverage on Maplight Therapeutics in a report on Thursday, January 22nd. They set a “sell (e)” rating 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 shares of Maplight Therapeutics in a research note on Wednesday, April 8th. They issued a “buy” rating and a $37.00 target price for the company. Finally, TD Cowen began coverage on shares of Maplight Therapeutics in a research note on Tuesday, April 7th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.67.

Maplight Therapeutics Stock Performance

Shares of NASDAQ:MPLT opened at $27.62 on Wednesday. The company has a market cap of $1.17 billion and a P/E ratio of -0.70. The firm’s 50 day simple moving average is $20.35. Maplight Therapeutics has a twelve month low of $12.24 and a twelve month high of $31.13.

Maplight Therapeutics (NASDAQ:MPLT) last issued its quarterly earnings results on Thursday, March 26th. The company reported ($2.47) EPS for the quarter, missing the consensus estimate of ($1.05) by ($1.42). On average, research analysts predict that Maplight Therapeutics will post -3.87 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Robert C. Malenka sold 21,262 shares of the company’s stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $18.55, for a total transaction of $394,410.10. Following the completion of the transaction, the director directly owned 371,885 shares in the company, valued at $6,898,466.75. This represents a 5.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director George Pavlov purchased 10,658 shares of Maplight Therapeutics stock in a transaction on Wednesday, February 18th. The stock was bought at an average cost of $17.48 per share, with a total value of $186,301.84. Following the completion of the acquisition, the director owned 10,658 shares in the company, valued at approximately $186,301.84. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have purchased 39,124 shares of company stock valued at $693,846 and have sold 74,612 shares valued at $1,368,065.

Hedge Funds Weigh In On Maplight Therapeutics

Several large investors have recently added to or reduced their stakes in the company. Strs Ohio acquired a new stake in shares of Maplight Therapeutics during the 4th quarter worth approximately $53,000. Police & Firemen s Retirement System of New Jersey bought a new position in Maplight Therapeutics in the fourth quarter worth $70,000. New York State Common Retirement Fund bought a new position in Maplight Therapeutics in the fourth quarter worth $93,000. MetLife Investment Management LLC acquired a new stake in Maplight Therapeutics during the fourth quarter worth $172,000. Finally, Walleye Capital LLC bought a new stake in Maplight Therapeutics in the 4th quarter valued at $205,000.

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.