Maplight Therapeutics (NASDAQ:MPLT) Releases Quarterly Earnings Results, Misses Expectations By $0.43 EPS

Maplight Therapeutics (NASDAQ:MPLTGet Free Report) released its quarterly earnings data on Thursday. The company reported ($1.34) earnings per share for the quarter, missing the consensus estimate of ($0.91) by ($0.43), FiscalAI reports.

Maplight Therapeutics Stock Down 1.9%

Shares of Maplight Therapeutics stock traded down $0.56 during midday trading on Friday, hitting $28.73. The company’s stock had a trading volume of 176,870 shares, compared to its average volume of 315,265. The company’s 50-day simple moving average is $24.24. Maplight Therapeutics has a 1-year low of $12.24 and a 1-year high of $33.28.

Insiders Place Their Bets

In other news, CFO Vishwas Setia sold 10,564 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $28.24, for a total value of $298,327.36. Following the completion of the sale, the chief financial officer owned 356,256 shares of the company’s stock, valued at $10,060,669.44. This trade represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James Woodruff Lillie sold 24,811 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $28.76, for a total value of $713,564.36. Following the completion of the sale, the insider directly owned 243,450 shares of the company’s stock, valued at approximately $7,001,622. This trade represents a 9.25% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders acquired 25,000 shares of company stock worth $441,168 and sold 391,204 shares worth $11,125,068. Company insiders own 3.80% of the company’s stock.

Institutional Trading of Maplight Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Fcpm Iii Services B.V. purchased a new stake in shares of Maplight Therapeutics during the fourth quarter worth $56,672,000. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Maplight Therapeutics during the fourth quarter worth $49,154,000. Goldman Sachs Group Inc. purchased a new stake in shares of Maplight Therapeutics during the fourth quarter worth $34,026,000. Nan Fung Group Holdings Ltd purchased a new stake in shares of Maplight Therapeutics during the fourth quarter worth $17,060,000. Finally, 5AM Venture Management LLC purchased a new stake in shares of Maplight Therapeutics during the fourth quarter worth $16,687,000.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Needham & Company LLC assumed coverage on Maplight Therapeutics in a research note on Wednesday, April 8th. They set a “buy” rating and a $37.00 price objective for the company. Weiss Ratings assumed coverage on Maplight Therapeutics in a research note on Thursday, January 22nd. They set a “sell (e)” rating for the company. TD Cowen assumed coverage on Maplight Therapeutics in a research note on Tuesday, April 7th. They set a “buy” rating for the company. Canaccord Genuity Group assumed coverage on Maplight Therapeutics in a research note on Thursday, March 19th. They set a “buy” rating and a $35.00 price objective for the company. Finally, HC Wainwright began coverage on Maplight Therapeutics in a research note on Monday, May 4th. They set a “buy” rating and a $45.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Maplight Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $34.43.

Read Our Latest Research Report on MPLT

Maplight Therapeutics Company Profile

(Get Free Report)

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.

Further Reading

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