Insider Selling: Maplight Therapeutics (NASDAQ:MPLT) Director Sells 11,264 Shares of Stock

Maplight Therapeutics, Inc. (NASDAQ:MPLT) Director Robert Malenka sold 11,264 shares of the business’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $18.42, for a total transaction of $207,482.88. Following the sale, the director owned 325,795 shares of the company’s stock, valued at approximately $6,001,143.90. This represents a 3.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Maplight Therapeutics Stock Performance

Shares of MPLT stock traded down $0.28 on Tuesday, reaching $18.02. The stock had a trading volume of 97,940 shares, compared to its average volume of 185,529. Maplight Therapeutics, Inc. has a 1 year low of $12.24 and a 1 year high of $21.55. The firm has a market cap of $817.57 million and a PE ratio of -0.48. The stock’s 50 day simple moving average is $17.83.

Maplight Therapeutics (NASDAQ:MPLT) last posted its earnings results 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).

Hedge Funds Weigh In On Maplight Therapeutics

A number of hedge funds have recently made changes to their positions in MPLT. Walleye Capital LLC purchased a new stake in shares of Maplight Therapeutics during the fourth quarter worth about $205,000. MetLife Investment Management LLC bought a new position in Maplight Therapeutics in the 4th quarter worth approximately $172,000. New York State Common Retirement Fund purchased a new stake in Maplight Therapeutics during the 4th quarter valued at approximately $93,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Maplight Therapeutics during the 4th quarter valued at approximately $70,000. Finally, 5AM Venture Management LLC bought a new stake in shares of Maplight Therapeutics during the fourth quarter valued at approximately $16,687,000.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Jefferies Financial Group started coverage on shares of Maplight Therapeutics in a research report on Friday, November 21st. They set a “buy” rating and a $32.00 target price for the company. Morgan Stanley started coverage on shares of Maplight Therapeutics in a research note on Friday, November 21st. They set an “overweight” rating and a $34.00 price target on the stock. Wall Street Zen raised shares of Maplight Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, December 20th. Stifel Nicolaus assumed coverage on Maplight Therapeutics in a report on Friday, November 21st. They issued a “buy” rating and a $28.00 target price on the stock. Finally, Weiss Ratings started coverage on Maplight Therapeutics in a report on Thursday, January 22nd. They set a “sell (e)” rating for the company. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $31.00.

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.