Maplight Therapeutics, Inc. (NASDAQ:MPLT – Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $27.40, but opened at $29.45. Maplight Therapeutics shares last traded at $29.55, with a volume of 5,411 shares traded.
Analysts Set New Price Targets
A number of research firms recently weighed in on MPLT. Weiss Ratings started coverage on Maplight Therapeutics in a report on Thursday, January 22nd. They set a “sell (e)” rating for the company. TD Cowen initiated coverage on Maplight Therapeutics in a report on Tuesday, April 7th. They set a “buy” rating on the stock. Needham & Company LLC initiated coverage on Maplight Therapeutics in a report on Wednesday, April 8th. They issued a “buy” rating and a $37.00 price target for the company. Wall Street Zen downgraded shares of Maplight Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Finally, Canaccord Genuity Group assumed coverage on shares of Maplight Therapeutics in a report on Thursday, March 19th. They set a “buy” rating and a $35.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Maplight Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $34.43.
Read Our Latest Stock Report on Maplight Therapeutics
Maplight Therapeutics Stock Performance
Maplight Therapeutics (NASDAQ:MPLT – Get Free Report) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($1.34) earnings per share (EPS) 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 -3.96 EPS for the current year.
Insider Transactions at Maplight Therapeutics
In related news, insider Anatol Kreitzer sold 45,422 shares of the company’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $29.66, for a total value of $1,347,216.52. Following the completion of the transaction, the insider directly owned 211,190 shares of the company’s stock, valued at approximately $6,263,895.40. This represents a 17.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Erin Pennock Foff sold 24,052 shares of the company’s 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. The trade was a 6.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders acquired 25,000 shares of company stock worth $441,168 and sold 403,320 shares worth $11,345,701. 3.80% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Maplight Therapeutics
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Baker BROS. Advisors LP bought a new stake in Maplight Therapeutics during the 4th quarter worth about $6,406,000. 5AM Venture Management LLC bought a new stake in Maplight Therapeutics during the 4th quarter worth about $16,687,000. Fcpm Iii Services B.V. bought a new stake in Maplight Therapeutics during the 4th quarter worth about $56,672,000. Walleye Capital LLC bought a new stake in Maplight Therapeutics during the 4th quarter worth about $205,000. Finally, Police & Firemen s Retirement System of New Jersey bought a new stake in Maplight Therapeutics during the 4th quarter worth about $70,000.
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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