Maplight Therapeutics (NASDAQ:MPLT) Shares Down 10% – Should You Sell?

Maplight Therapeutics, Inc. (NASDAQ:MPLT)’s share price fell 10% during mid-day trading on Monday . The company traded as low as $26.20 and last traded at $25.8550. 257,648 shares changed hands during trading, an increase of 10% from the average session volume of 233,663 shares. The stock had previously closed at $28.73.

Wall Street Analyst Weigh In

MPLT has been the subject of a number of recent analyst reports. HC Wainwright initiated coverage on shares of Maplight Therapeutics in a research report on Monday, May 4th. They issued a “buy” rating and a $45.00 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. Needham & Company LLC started coverage on Maplight Therapeutics in a report on Wednesday, April 8th. They issued a “buy” rating and a $37.00 price target for the company. Wall Street Zen lowered Maplight Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Finally, Lifesci Capital upgraded Maplight Therapeutics to a “strong-buy” rating in a research report on Thursday. Two investment 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, Maplight Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $34.43.

Maplight Therapeutics Stock Performance

The business has a fifty day moving average price of $24.24. The company has a market capitalization of $1.13 billion and a PE ratio of -0.67.

Maplight Therapeutics (NASDAQ:MPLT) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($1.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.43). On average, equities analysts expect that Maplight Therapeutics, Inc. will post -4.04 EPS for the current fiscal year.

Insider Transactions at Maplight Therapeutics

In related news, insider Jonathan Gillis sold 51,900 shares of Maplight Therapeutics stock in a transaction on Monday, April 27th. The stock was sold at an average price of $29.74, for a total transaction of $1,543,506.00. Following the completion of the transaction, the insider directly owned 199,154 shares of the company’s stock, valued at approximately $5,922,839.96. The trade was a 20.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 business’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 sale, the insider 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. 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 bought 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.

Hedge Funds Weigh In On Maplight Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Maplight Therapeutics in the fourth quarter valued at about $70,000. State Street Corp purchased a new position in shares of Maplight Therapeutics during the 4th quarter worth approximately $4,031,000. Wells Fargo & Company MN acquired a new position in shares of Maplight Therapeutics during the 4th quarter worth approximately $328,000. MetLife Investment Management LLC acquired a new position in shares of Maplight Therapeutics during the 4th quarter worth approximately $172,000. Finally, New York State Common Retirement Fund purchased a new stake in Maplight Therapeutics in the 4th quarter valued at approximately $93,000.

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.