Maplight Therapeutics (NASDAQ:MPLT) Shares Gap Up After Insider Buying Activity

Shares of Maplight Therapeutics, Inc. (NASDAQ:MPLT) gapped up prior to trading on Monday after an insider bought additional shares in the company. The stock had previously closed at $17.88, but opened at $18.87. Maplight Therapeutics shares last traded at $19.93, with a volume of 101,257 shares changing hands.

Specifically, Director George Pavlov acquired 9,920 shares of the firm’s stock in a transaction on Friday, February 20th. The shares were purchased at an average cost of $17.86 per share, with a total value of $177,171.20. Following the acquisition, the director directly owned 25,000 shares in the company, valued at $446,500. This represents a 65.78% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director George Pavlov bought 4,422 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were purchased at an average cost of $17.57 per share, with a total value of $77,694.54. Following the acquisition, the director directly owned 15,080 shares of the company’s stock, valued at approximately $264,955.60. This represents a 41.49% increase in their position. The disclosure for this purchase is available in the SEC filing. In other Maplight Therapeutics news, Director George Pavlov purchased 10,658 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were acquired at an average cost of $17.48 per share, for a total transaction of $186,301.84. Following the completion of the purchase, the director owned 10,658 shares of the company’s stock, valued at approximately $186,301.84. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Ratings Changes

A number of research analysts have issued reports on MPLT shares. Wall Street Zen upgraded shares of Maplight Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, December 20th. Weiss Ratings initiated coverage on Maplight Therapeutics in a research report on Thursday, January 22nd. They set a “sell (e)” rating for the company. Zacks Research raised Maplight Therapeutics to a “hold” rating in a research note on Monday, November 24th. Leerink Partners assumed coverage on shares of Maplight Therapeutics in a report on Friday, November 21st. They issued an “outperform” rating and a $30.00 target price on the stock. Finally, Morgan Stanley initiated coverage on shares of Maplight Therapeutics in a research report on Friday, November 21st. They set an “overweight” rating and a $34.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Maplight Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $31.00.

Maplight Therapeutics Trading Up 10.3%

The stock has a market capitalization of $894.70 million and a P/E ratio of -0.53. The company’s 50 day moving average is $17.93.

Maplight Therapeutics (NASDAQ:MPLT) last posted its quarterly earnings data on Thursday, December 4th. The company reported ($37.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.86) by ($35.32).

Institutional Trading of Maplight Therapeutics

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