Insider Selling: Maplight Therapeutics (NASDAQ:MPLT) CEO Sells 118,235 Shares of Stock

Maplight Therapeutics, Inc. (NASDAQ:MPLT) CEO Christopher Kroeger sold 118,235 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $27.19, for a total transaction of $3,214,809.65. Following the completion of the transaction, the chief executive officer owned 1,394,094 shares in the company, valued at $37,905,415.86. The trade was a 7.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Maplight Therapeutics Trading Down 7.8%

Shares of NASDAQ:MPLT traded down $2.23 on Monday, reaching $26.50. The company’s stock had a trading volume of 535,023 shares, compared to its average volume of 312,724. Maplight Therapeutics, Inc. has a 52-week low of $12.24 and a 52-week high of $33.28. The company has a market cap of $1.13 billion and a P/E ratio of -0.67. The business has a 50-day moving average price of $24.41.

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

Analyst Ratings Changes

A number of research firms recently commented on MPLT. Wall Street Zen cut shares of Maplight Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. TD Cowen initiated coverage on shares of Maplight Therapeutics in a report on Tuesday, April 7th. They set a “buy” rating for the company. Lifesci Capital upgraded shares of Maplight Therapeutics to a “strong-buy” rating in a report on Thursday. Canaccord Genuity Group initiated coverage on shares of Maplight Therapeutics in a report on Thursday, March 19th. They set a “buy” rating and a $35.00 price objective for the company. Finally, Weiss Ratings initiated coverage on shares of Maplight Therapeutics in a report on Thursday, January 22nd. They set a “sell (e)” rating for the company. Two equities research analysts have 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $34.43.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Fcpm Iii Services B.V. bought a new position in shares of Maplight Therapeutics during the 4th quarter worth approximately $56,672,000. T. Rowe Price Investment Management Inc. bought a new position in shares of Maplight Therapeutics during the 4th quarter worth approximately $49,154,000. Goldman Sachs Group Inc. bought a new position in shares of Maplight Therapeutics during the 4th quarter worth approximately $34,026,000. Nan Fung Group Holdings Ltd purchased a new stake in Maplight Therapeutics during the 4th quarter worth approximately $17,060,000. Finally, 5AM Venture Management LLC purchased a new stake in Maplight Therapeutics during the 4th quarter worth approximately $16,687,000.

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.