Christopher Kroeger Sells 118,235 Shares of Maplight Therapeutics (NASDAQ:MPLT) Stock

Maplight Therapeutics, Inc. (NASDAQ:MPLT – Get Free Report) CEO Christopher Kroeger sold 118,235 shares of the business’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 transaction of $3,214,809.65. Following the sale, the chief executive officer directly owned 1,394,094 shares in the company, valued at approximately $37,905,415.86. This represents a 7.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Maplight Therapeutics Stock Performance

Shares of MPLT stock traded down $2.23 during trading hours on Monday, hitting $26.50. The company’s stock had a trading volume of 535,023 shares, compared to its average volume of 312,724. The stock has a 50 day simple moving average of $24.41. The stock has a market cap of $1.13 billion and a PE ratio of -0.67. Maplight Therapeutics, Inc. has a 12-month low of $12.24 and a 12-month high of $33.28.

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Maplight Therapeutics (NASDAQ:MPLT – Get Free Report) last posted its 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). Research analysts expect that Maplight Therapeutics, Inc. will post -4.04 EPS for the current year.

Analysts Set New Price Targets

MPLT has been the subject of a number of research analyst reports. Wall Street Zen cut shares of Maplight Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Canaccord Genuity Group assumed coverage on shares of Maplight Therapeutics in a report on Thursday, March 19th. They issued a “buy” rating and a $35.00 price objective for the company. HC Wainwright initiated coverage on shares of Maplight Therapeutics in a report on Monday, May 4th. They issued a “buy” rating and a $45.00 price objective for the company. Needham & Company LLC initiated coverage on shares of Maplight Therapeutics in a research note on Wednesday, April 8th. They set a “buy” rating and a $37.00 target price for the company. Finally, Weiss Ratings initiated coverage on shares of Maplight Therapeutics in a research report on Thursday, January 22nd. They set a “sell (e)” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Maplight Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $34.43.

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Institutional Investors Weigh In On Maplight Therapeutics

A number of hedge funds have recently added to or reduced their stakes in MPLT. Strs Ohio purchased a new position in Maplight Therapeutics in the fourth quarter valued at $53,000. Police & Firemen s Retirement System of New Jersey purchased a new position in Maplight Therapeutics in the fourth quarter valued at $70,000. New York State Common Retirement Fund purchased a new position in Maplight Therapeutics in the fourth quarter valued at $93,000. MetLife Investment Management LLC purchased a new position in Maplight Therapeutics in the fourth quarter valued at $172,000. Finally, Walleye Capital LLC purchased a new position in Maplight Therapeutics in the fourth quarter valued at $205,000.

Maplight Therapeutics Company Profile

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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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