Maplight Therapeutics (NASDAQ:MPLT) Shares Gap Down – Should You Sell?

Maplight Therapeutics, Inc. (NASDAQ:MPLT) gapped down before the market opened on Tuesday . The stock had previously closed at $30.05, but opened at $28.34. Maplight Therapeutics shares last traded at $27.6550, with a volume of 13,722 shares traded.

Analysts Set New Price Targets

Several equities analysts have issued reports on MPLT shares. TD Cowen initiated coverage on Maplight Therapeutics in a research note on Tuesday, April 7th. They issued a “buy” rating on the stock. Needham & Company LLC assumed coverage on shares of Maplight Therapeutics in a research report on Wednesday, April 8th. They set a “buy” rating and a $37.00 price target for the company. Weiss Ratings initiated coverage on shares of Maplight Therapeutics in a research report on Thursday, January 22nd. They issued a “sell (e)” rating on the stock. Canaccord Genuity Group started coverage on shares of 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, Wall Street Zen downgraded shares of Maplight Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $32.67.

Maplight Therapeutics Stock Up 16.3%

The firm has a market cap of $1.36 billion and a P/E ratio of -0.81. The business’s 50 day moving average price is $20.63.

Maplight Therapeutics (NASDAQ:MPLT) last announced its quarterly earnings data on Thursday, March 26th. The company reported ($2.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.05) by ($1.42). Equities research analysts forecast that Maplight Therapeutics, Inc. will post -3.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Maplight Therapeutics news, Director Robert C. Malenka sold 11,264 shares of Maplight Therapeutics stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $18.42, for a total transaction of $207,482.88. Following the completion of the transaction, the director owned 325,795 shares in the company, valued at approximately $6,001,143.90. This trade represents a 3.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director George Pavlov acquired 9,920 shares of the firm’s stock in a transaction dated Friday, February 20th. The stock was bought at an average cost of $17.86 per share, with a total value of $177,171.20. Following the acquisition, the director owned 25,000 shares in the company, valued at approximately $446,500. This trade represents a 65.78% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders bought 39,124 shares of company stock valued at $693,846 and sold 74,612 shares valued at $1,368,065.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MPLT. Strs Ohio purchased a new stake in Maplight Therapeutics in the 4th quarter worth approximately $53,000. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Maplight Therapeutics during the 4th quarter valued at approximately $70,000. New York State Common Retirement Fund acquired a new stake in Maplight Therapeutics during 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 stake in shares of Maplight Therapeutics during the 4th quarter worth about $205,000.

Maplight Therapeutics Company Profile

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.