Lazard Asset Management LLC cut its holdings in shares of Maplight Therapeutics, Inc. (NASDAQ:MPLT – Free Report) by 31.6% in the first quarter, HoldingsChannel reports. The fund owned 142,016 shares of the company’s stock after selling 65,478 shares during the quarter. Lazard Asset Management LLC’s holdings in Maplight Therapeutics were worth $2,887,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Strs Ohio acquired a new stake in shares of Maplight Therapeutics during the fourth quarter worth approximately $53,000. Bank of New York Mellon Corp grew its position in Maplight Therapeutics by 10.1% during the first quarter. Bank of New York Mellon Corp now owns 39,465 shares of the company’s stock valued at $802,000 after purchasing an additional 3,608 shares in the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new position in Maplight Therapeutics in the 4th quarter valued at approximately $70,000. New York State Common Retirement Fund purchased a new stake in Maplight Therapeutics in the 4th quarter worth approximately $93,000. Finally, MetLife Investment Management LLC acquired a new stake in shares of Maplight Therapeutics during the 4th quarter valued at $172,000.
Maplight Therapeutics Price Performance
NASDAQ MPLT opened at $13.02 on Friday. Maplight Therapeutics, Inc. has a fifty-two week low of $9.10 and a fifty-two week high of $40.43. The stock’s 50-day moving average is $30.66 and its two-hundred day moving average is $24.88. The firm has a market cap of $554.89 million and a P/E ratio of -0.32.
Insider Activity
In other news, insider James Woodruff Lillie sold 24,811 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were 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 in the company, valued at approximately $7,001,622. The trade was a 9.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vishwas Setia sold 10,564 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $28.24, for a total transaction of $298,327.36. Following the sale, the chief financial officer directly owned 356,256 shares of the company’s stock, valued at approximately $10,060,669.44. This represents a 2.88% 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. Over the last ninety days, insiders have sold 379,987 shares of company stock valued at $10,644,411. Insiders own 3.80% of the company’s stock.
Analyst Ratings Changes
MPLT has been the topic of a number of research reports. Wall Street Zen downgraded shares of Maplight Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday. TD Cowen assumed coverage on Maplight Therapeutics in a research note on Tuesday, April 7th. They issued a “buy” rating on the stock. Needham & Company LLC upped their target price on Maplight Therapeutics from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. BMO Capital Markets started coverage on Maplight Therapeutics in a report on Monday, July 20th. They set an “outperform” rating and a $46.00 price target for the company. Finally, Benchmark reissued a “buy” rating on shares of Maplight Therapeutics in a research note on Monday, June 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Maplight Therapeutics presently has an average rating of “Buy” and a consensus target price of $34.42.
Check Out Our Latest Stock Report on Maplight Therapeutics
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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