Maplight Therapeutics (NASDAQ:MPLT) Trading Down 5.4% – Here’s What Happened

Maplight Therapeutics, Inc. (NASDAQ:MPLT)’s stock price dropped 5.4% during trading on Wednesday . The stock traded as low as $35.52 and last traded at $35.8810. 13,574 shares changed hands during trading, a decline of 95% from the average daily volume of 291,457 shares. The stock had previously closed at $37.91.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. TD Cowen initiated coverage on Maplight Therapeutics in a report on Tuesday, April 7th. They set a “buy” rating for the company. Stifel Nicolaus boosted their price target on shares of Maplight Therapeutics from $28.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Lifesci Capital raised shares of Maplight Therapeutics to a “strong-buy” rating in a research note on Thursday, May 14th. Wall Street Zen lowered shares of Maplight Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Finally, UBS Group assumed coverage on Maplight Therapeutics in a report on Tuesday, May 26th. They set a “buy” rating and a $48.00 target price on the stock. Five analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $39.10.

Maplight Therapeutics Stock Performance

The company’s 50-day moving average price is $31.00 and its 200 day moving average price is $24.01. The stock has a market cap of $1.56 billion and a PE ratio of -0.89.

Maplight Therapeutics (NASDAQ:MPLT) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($1.34) EPS for the quarter, missing the consensus estimate of ($0.91) by ($0.43). On average, sell-side analysts anticipate that Maplight Therapeutics, Inc. will post -5.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Maplight Therapeutics news, CEO Christopher A. Kroeger sold 118,235 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $27.19, for a total value of $3,214,809.65. Following the completion of 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 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, insider James Woodruff Lillie sold 24,811 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $28.76, for a total transaction of $713,564.36. Following the completion of the transaction, the insider directly owned 243,450 shares of the company’s stock, valued at $7,001,622. This trade represents a 9.25% decrease in their position. 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. Insiders sold 495,244 shares of company stock valued at $14,079,461 over the last quarter. Company insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Maplight Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sanofi acquired a new stake in Maplight Therapeutics during the fourth quarter valued at $16,020,000. 5AM Venture Management LLC purchased a new position in Maplight Therapeutics during the fourth quarter worth approximately $16,687,000. Nan Fung Group Holdings Ltd acquired a new position in shares of Maplight Therapeutics during the 4th quarter worth approximately $17,060,000. Fcpm Iii Services B.V. acquired a new stake in Maplight Therapeutics in the 4th quarter valued at $56,672,000. Finally, Baker BROS. Advisors LP acquired a new position in Maplight Therapeutics during the fourth quarter worth $6,406,000.

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.