Maplight Therapeutics (NASDAQ:MPLT) Insider Anatol Kreitzer Sells 12,248 Shares of Company Stock

Maplight Therapeutics, Inc. (NASDAQ:MPLT) insider Anatol Kreitzer sold 12,248 shares of the stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $7.84, for a total value of $96,024.32. Following the sale, the insider owned 168,678 shares in the company, valued at approximately $1,322,435.52. This trade represents a 6.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Maplight Therapeutics Stock Down 4.0%

MPLT stock traded down $0.32 during midday trading on Friday, reaching $7.70. 359,069 shares of the company’s stock traded hands, compared to its average volume of 472,697. The company has a 50-day simple moving average of $11.33 and a two-hundred day simple moving average of $22.47. Maplight Therapeutics, Inc. has a 1-year low of $7.46 and a 1-year high of $40.43. The company has a market cap of $427.94 million and a price-to-earnings ratio of -0.18.

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MPLT. Wolfe Research reaffirmed an “outperform” rating and issued a $30.00 price target on shares of Maplight Therapeutics in a report on Monday, July 27th. BMO Capital Markets initiated coverage on shares of Maplight Therapeutics in a report on Monday, July 20th. They set an “outperform” rating and a $46.00 price objective on the stock. HC Wainwright decreased their price objective on shares of Maplight Therapeutics from $45.00 to $26.00 and set a “buy” rating on the stock in a report on Tuesday, July 28th. Wall Street Zen cut shares of Maplight Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 3rd. Finally, Benchmark reaffirmed 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 given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

Institutional Investors Weigh In On Maplight Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Legal & General Group Plc acquired a new position in shares of Maplight Therapeutics in the 2nd quarter valued at $37,000. Bank of New York Mellon Corp lifted its stake in Maplight Therapeutics by 10.1% in the first quarter. Bank of New York Mellon Corp now owns 39,465 shares of the company’s stock valued at $802,000 after buying an additional 3,608 shares during the period. Wellington Management Group LLP boosted its holdings in Maplight Therapeutics by 12.4% during the second quarter. Wellington Management Group LLP now owns 51,917 shares of the company’s stock worth $1,861,000 after buying an additional 5,709 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in Maplight Therapeutics during the second quarter worth about $252,000. Finally, Deutsche Bank AG acquired a new position in shares of Maplight Therapeutics during the 2nd quarter worth about $370,000.

Maplight Therapeutics Company Profile

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.