Maplight Therapeutics (NASDAQ:MPLT) Stock Price Down 6.4% – What’s Next?

Maplight Therapeutics, Inc. (NASDAQ:MPLT)’s stock price was down 6.4% during trading on Friday . The stock traded as low as $12.30 and last traded at $12.43. 102,568 shares traded hands during trading, a decline of 77% from the average daily volume of 453,138 shares. The stock had previously closed at $13.28.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. BMO Capital Markets began coverage on Maplight Therapeutics in a research report on Monday, July 20th. They set an “outperform” rating and a $46.00 price target on the stock. Wolfe Research reaffirmed an “outperform” rating and set a $30.00 target price on shares of Maplight Therapeutics in a research note on Monday, July 27th. HC Wainwright lowered their target price on Maplight Therapeutics from $45.00 to $26.00 and set a “buy” rating on the stock in a report on Tuesday, July 28th. UBS Group boosted their price target on shares of Maplight Therapeutics from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Finally, Stifel Nicolaus raised their price objective on shares of Maplight Therapeutics from $28.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Four research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Maplight Therapeutics presently has an average rating of “Buy” and an average target price of $34.42.

Maplight Therapeutics Trading Down 7.6%

The stock has a 50-day simple moving average of $29.35 and a 200 day simple moving average of $24.77. The stock has a market capitalization of $523.16 million and a price-to-earnings ratio of -0.30.

Maplight Therapeutics (NASDAQ:MPLT) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($1.34) EPS for the quarter, missing the consensus estimate of ($0.91) by ($0.43). Sell-side analysts expect that Maplight Therapeutics, Inc. will post -5.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider James Woodruff Lillie sold 22,082 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $12.54, for a total transaction of $276,908.28. Following the completion of the sale, the insider owned 202,380 shares in the company, valued at approximately $2,537,845.20. This represents a 9.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Christopher A. Kroeger sold 118,235 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $27.19, for a total value of $3,214,809.65. Following the transaction, the chief executive officer directly owned 1,394,094 shares in the company, valued at approximately $37,905,415.86. This represents a 7.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 154,297 shares of company stock valued at $3,912,656 over the last quarter. Insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Maplight Therapeutics

A number of institutional investors have recently modified their holdings of the company. Strs Ohio acquired a new position in Maplight Therapeutics in the 4th quarter valued at $53,000. Bank of New York Mellon Corp boosted its holdings in Maplight Therapeutics by 10.1% during the first quarter. Bank of New York Mellon Corp now owns 39,465 shares of the company’s stock valued at $802,000 after acquiring an additional 3,608 shares during the period. Police & Firemen s Retirement System of New Jersey bought a new stake in Maplight Therapeutics during the fourth quarter valued at about $70,000. New York State Common Retirement Fund acquired a new stake in shares of Maplight Therapeutics in the fourth quarter valued at about $93,000. Finally, MetLife Investment Management LLC bought a new position in shares of Maplight Therapeutics in the fourth quarter worth about $172,000.

Maplight Therapeutics Company Profile

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.