Maplight Therapeutics, Inc. (NASDAQ:MPLT – Get Free Report) insider Erin Pennock Foff sold 24,052 shares of Maplight Therapeutics stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $28.76, for a total value of $691,735.52. Following the sale, the insider directly owned 350,497 shares of the company’s stock, valued at approximately $10,080,293.72. This trade represents a 6.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Erin Pennock Foff also recently made the following trade(s):
- On Tuesday, May 5th, Erin Pennock Foff sold 10,576 shares of Maplight Therapeutics stock. The shares were sold at an average price of $28.20, for a total value of $298,243.20.
- On Monday, May 4th, Erin Pennock Foff sold 15,652 shares of Maplight Therapeutics stock. The shares were sold at an average price of $27.96, for a total value of $437,629.92.
Maplight Therapeutics Stock Performance
NASDAQ MPLT opened at $27.40 on Friday. Maplight Therapeutics, Inc. has a 1-year low of $12.24 and a 1-year high of $33.28. The firm has a 50-day moving average of $22.83. The company has a market cap of $1.17 billion and a price-to-earnings ratio of -0.69.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position in shares of Maplight Therapeutics by 10.1% in the 1st quarter. Bank of New York Mellon Corp now owns 39,465 shares of the company’s stock worth $802,000 after acquiring an additional 3,608 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new position in shares of Maplight Therapeutics in the 4th quarter worth approximately $49,168,000. Invesco Ltd. bought a new position in shares of Maplight Therapeutics in the 4th quarter worth approximately $228,000. Vestal Point Capital LP bought a new position in shares of Maplight Therapeutics in the 4th quarter worth approximately $6,763,000. Finally, Tudor Investment Corp ET AL bought a new position in shares of Maplight Therapeutics in the 4th quarter worth approximately $840,000.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on MPLT shares. Weiss Ratings started coverage on Maplight Therapeutics in a research note on Thursday, January 22nd. They issued a “sell (e)” rating for the company. Canaccord Genuity Group started coverage on Maplight Therapeutics in a research note on Thursday, March 19th. They issued a “buy” rating and a $35.00 target price for the company. TD Cowen started coverage on Maplight Therapeutics in a research note on Tuesday, April 7th. They issued a “buy” rating for the company. HC Wainwright started coverage on Maplight Therapeutics in a research note on Monday. They issued a “buy” rating and a $45.00 target price for the company. Finally, Needham & Company LLC started coverage on Maplight Therapeutics in a research report on Wednesday, April 8th. They set a “buy” rating and a $37.00 price target for the company. One investment analyst has 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $34.43.
Get Our Latest Research Report on Maplight Therapeutics
Key Headlines Impacting Maplight Therapeutics
Here are the key news stories impacting Maplight Therapeutics this week:
- Positive Sentiment: MapLight Therapeutics announced that management will participate in upcoming investor conferences, which can help keep the company visible to potential investors and may provide a near-term catalyst. MapLight Therapeutics to Participate in Upcoming Investor Conferences
- Positive Sentiment: Needham reiterated a Buy rating on MPLT, reinforcing Wall Street support for the stock and helping offset some of the recent negative sentiment. Needham Reaffirms Buy Rating
- Positive Sentiment: Recent analyst coverage elsewhere in the tape remained constructive, including Buy ratings and higher price targets, which supports the longer-term bullish case for MapLight Therapeutics. Analyst coverage summary
- Neutral Sentiment: The company’s recent earnings history remains mixed, with a prior quarterly loss wider than expected; this is still part of the backdrop but not the main driver of today’s move. MPLT earnings summary
- Negative Sentiment: Multiple insiders, including CEO Christopher Kroeger, CFO Vishwas Setia, and insiders James Woodruff Lillie and Erin Pennock Foff, sold shares over May 4–6. Although the sales were made under pre-arranged Rule 10b5-1 plans, the cluster of transactions can weigh on sentiment and suggest near-term selling pressure. CEO Form 4 filing
- Negative Sentiment: The repeated insider sales may be contributing to the stock’s decline today, as investors often view sustained insider selling as a cautionary signal even when it is pre-planned. Insider sale filing
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.
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