Maplight Therapeutics (NASDAQ:MPLT) Stock: Insider Jonathan Gillis Sells 10,167 Shares

Maplight Therapeutics, Inc. (NASDAQ:MPLT) CFO Jonathan Gillis sold 10,167 shares of the stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $8.08, for a total value of $82,149.36. Following the completion of the sale, the chief financial officer owned 142,315 shares of the company’s stock, valued at approximately $1,149,905.20. This represents a 6.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Maplight Therapeutics Price Performance

Shares of MPLT opened at $7.70 on Friday. Maplight Therapeutics, Inc. has a 12 month low of $7.46 and a 12 month high of $40.43. The stock’s 50-day moving average is $11.24 and its two-hundred day moving average is $22.37. The stock has a market cap of $427.97 million and a PE ratio of -0.18.

Maplight Therapeutics (NASDAQ:MPLT) last posted its earnings results on Thursday, August 13th. The company reported ($1.32) EPS for the quarter, topping analysts’ consensus estimates of ($1.40) by $0.08. On average, research analysts anticipate that Maplight Therapeutics, Inc. will post -5.01 earnings per share for the current year.

Trending Headlines about Maplight Therapeutics

Here are the key news stories impacting Maplight Therapeutics this week:

• Positive Sentiment: MapLight Therapeutics is described as technically oversold after falling 29.2% over four weeks, potentially creating conditions for a rebound. Wall Street analysts have also been revising earnings estimates higher, providing a possible catalyst for a trend reversal. Down 29.2% in 4 Weeks, Here’s Why You Should You Buy the Dip in MapLight Therapeutics
• Neutral Sentiment: CEO Christopher Kroeger sold 73,691 shares for approximately $595,423, while CFO Jonathan Gillis sold 10,167 shares for approximately $82,149. Both executives retained substantial holdings, and the filings said the sales covered tax obligations tied to equity vesting. CEO Form 4 Filing CFO Form 4 Filing
• Negative Sentiment: Additional insiders Erin Pennock Foff, James Lillie and Anatol Kreitzer sold a combined 39,116 shares for roughly $313,118. Although these were also tax-withholding transactions, the cluster of insider selling can weigh on sentiment and add perceived supply pressure. Erin Pennock Foff Form 4 Filing James Lillie Form 4 Filing Anatol Kreitzer Form 4 Filing

Institutional Investors Weigh In On Maplight Therapeutics

Several large investors have recently added to or reduced their stakes in MPLT. BlackRock Inc. bought a new stake in Maplight Therapeutics in the second quarter valued at $36,741,000. Nan Fung Group Holdings Ltd acquired a new position in shares of Maplight Therapeutics during the second quarter valued at $34,809,708. 5AM Venture Management LLC acquired a new position in shares of Maplight Therapeutics during the second quarter valued at $34,048,394. Blue Owl Capital Holdings LP bought a new position in shares of Maplight Therapeutics during the second quarter worth about $26,161,000. Finally, ADAR1 Capital Management LLC bought a new position in shares of Maplight Therapeutics during the first quarter worth about $7,622,000.

Analysts Set New Price Targets

Several analysts have weighed in on MPLT shares. Canaccord Genuity Group set a $21.00 target price on shares of Maplight Therapeutics in a research note on Friday, August 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Maplight Therapeutics in a report on Friday, October 9th. Morgan Stanley reaffirmed an “equal weight” rating and set a $21.00 price objective (down from $34.00) on shares of Maplight Therapeutics in a research report on Tuesday, July 28th. HC Wainwright dropped their price objective on shares of Maplight Therapeutics from $45.00 to $26.00 and set a “buy” rating on the stock in a research note on Tuesday, July 28th. Finally, Benchmark reiterated 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, nine have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Maplight Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $29.50.

About Maplight Therapeutics

MapLight Therapeutics is a clinical-stage biopharmaceutical company developing medicines for neuropsychiatric and neurological disorders. The company focuses on conditions for which existing treatments may provide limited benefits or cause significant side effects.

MapLight uses a neuroscience-focused drug discovery and development approach to identify therapies intended to address the underlying biology of central nervous system disorders. Its pipeline includes investigational small-molecule treatments being studied for conditions such as schizophrenia and other serious mental health disorders.

The company conducts research and clinical development in the United States.