Maplight Therapeutics (NASDAQ:MPLT) Shares Down 5.5% – Here’s What Happened

Maplight Therapeutics, Inc. (NASDAQ:MPLT) shares fell 5.5% during trading on Monday . The company traded as low as $29.00 and last traded at $29.0040. 31,078 shares changed hands during trading, a decline of 86% from the average session volume of 229,330 shares. The stock had previously closed at $30.70.

Analyst Ratings Changes

MPLT has been the subject of a number of research analyst reports. Wall Street Zen cut Maplight Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Weiss Ratings started coverage on shares of Maplight Therapeutics in a research note on Thursday, January 22nd. They issued a “sell (e)” rating on the stock. TD Cowen initiated coverage on shares of Maplight Therapeutics in a report on Tuesday, April 7th. They set a “buy” rating for the company. HC Wainwright assumed coverage on shares of Maplight Therapeutics in a research report on Monday. They set a “buy” rating and a $45.00 target price for the company. Finally, Canaccord Genuity Group started coverage on shares of Maplight Therapeutics in a research report on Thursday, March 19th. They issued a “buy” rating and a $35.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $34.43.

Maplight Therapeutics Price Performance

The company has a fifty day simple moving average of $22.19. The company has a market capitalization of $1.21 billion and a P/E ratio of -0.72.

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

Insider Activity

In other Maplight Therapeutics news, insider Jonathan Gillis sold 17,935 shares of Maplight Therapeutics stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $30.35, for a total value of $544,327.25. Following the completion of the sale, the insider directly owned 181,219 shares of the company’s stock, valued at approximately $5,499,996.65. The trade was a 9.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director George Pavlov purchased 9,920 shares of the business’s stock in a transaction on Friday, February 20th. The stock was acquired at an average price of $17.86 per share, with a total value of $177,171.20. Following the completion of the acquisition, the director directly owned 25,000 shares in the company, valued at $446,500. The trade was a 65.78% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have acquired 39,124 shares of company stock valued at $693,846 and have sold 148,432 shares valued at $4,040,446.

Hedge Funds Weigh In On Maplight Therapeutics

Several institutional investors have recently added to or reduced their stakes in MPLT. Strs Ohio purchased a new position in Maplight Therapeutics during the fourth quarter worth about $53,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Maplight Therapeutics in the 4th quarter valued at about $70,000. New York State Common Retirement Fund acquired a new position in shares of Maplight Therapeutics during the 4th quarter valued at about $93,000. MetLife Investment Management LLC purchased a new position in shares of Maplight Therapeutics during the 4th quarter worth about $172,000. Finally, Walleye Capital LLC purchased a new position in shares of Maplight Therapeutics during the 4th quarter worth about $205,000.

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.