Maplight Therapeutics (NASDAQ:MPLT) Stock Price Down 5.4% – Here’s Why

Maplight Therapeutics, Inc. (NASDAQ:MPLT) fell 5.4% on Monday . The stock traded as low as $36.09 and last traded at $35.09. Approximately 11,594 shares changed hands during trading, a decline of 96% from the average daily volume of 277,231 shares. The stock had previously closed at $37.09.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MPLT. Craig Hallum lowered their target price on Maplight Therapeutics from $43.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday, June 23rd. Canaccord Genuity Group started coverage on Maplight Therapeutics in a report on Thursday, March 19th. They set a “buy” rating and a $35.00 price target on the stock. Lifesci Capital raised Maplight Therapeutics to a “strong-buy” rating in a research note on Thursday, May 14th. UBS Group began coverage on shares of Maplight Therapeutics in a report on Tuesday, May 26th. They issued a “buy” rating and a $48.00 price objective for the company. Finally, Needham & Company LLC lifted their target price on shares of Maplight Therapeutics from $37.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Four analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $38.80.

Maplight Therapeutics Trading Up 5.8%

The business has a 50-day simple moving average of $30.18 and a 200 day simple moving average of $23.33. The stock has a market cap of $1.58 billion and a P/E ratio of -0.90.

Maplight Therapeutics (NASDAQ:MPLT) last posted 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). As a group, equities analysts expect that Maplight Therapeutics, Inc. will post -5.13 earnings per share for the current year.

Insider Activity

In other news, CFO Vishwas Setia sold 10,564 shares of the stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $28.24, for a total transaction of $298,327.36. Following the completion of the sale, the chief financial officer directly owned 356,256 shares in the company, valued at $10,060,669.44. This represents a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 shares were sold at an average price of $28.76, for a total transaction of $713,564.36. Following the completion of the transaction, the insider owned 243,450 shares in the company, valued at approximately $7,001,622. The trade was a 9.25% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 495,244 shares of company stock valued at $14,079,461. Company insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Maplight Therapeutics

Large investors have recently added to or reduced their stakes in the business. 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. acquired a new position in shares of Maplight Therapeutics during the 4th quarter valued at $49,168,000. Goldman Sachs Group Inc. bought a new position in Maplight Therapeutics during the fourth quarter worth $34,026,000. Nan Fung Group Holdings Ltd bought a new position in Maplight Therapeutics during the fourth quarter worth $17,060,000. Finally, 5AM Venture Management LLC acquired a new stake in Maplight Therapeutics in the fourth quarter worth $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.