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 transaction of $96,024.32. Following the transaction, the insider owned 168,678 shares in the company, valued at approximately $1,322,435.52. The trade was a 6.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Maplight Therapeutics Stock Down 4.0%

Shares of MPLT traded down $0.32 during mid-day trading on Friday, hitting $7.70. 359,069 shares of the company’s stock were exchanged, compared to its average volume of 479,482. Maplight Therapeutics, Inc. has a 52 week low of $7.46 and a 52 week high of $40.43. The stock’s 50-day simple moving average is $11.24 and its 200-day simple moving average is $22.37. The firm has a market cap of $427.97 million and a price-to-earnings ratio of -0.18.

Maplight Therapeutics (NASDAQ:MPLT) last released its quarterly earnings results on Thursday, August 13th. The company reported ($1.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.40) by $0.08. Analysts forecast that Maplight Therapeutics, Inc. will post -5.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MPLT. Wellington Management Group LLP raised its position in Maplight Therapeutics by 12.4% during the second quarter. Wellington Management Group LLP now owns 51,917 shares of the company’s stock valued at $1,861,000 after purchasing an additional 5,709 shares in the last quarter. Bank of America Corp DE bought a new stake in Maplight Therapeutics during the second quarter worth $1,952,000. Freestone Grove Partners LP acquired a new stake in shares of Maplight Therapeutics in the 2nd quarter valued at $6,054,000. 5AM Venture Management LLC acquired a new stake in shares of Maplight Therapeutics in the 2nd quarter valued at $34,048,394. Finally, ADAR1 Capital Management LLC bought a new position in shares of Maplight Therapeutics in the 2nd quarter valued at $950,000.

Key Maplight Therapeutics News

Here are the key news stories impacting Maplight Therapeutics this week:

• Positive Sentiment: MapLight Therapeutics is described as technically oversold after falling 29.2% over four weeks, potentially creating conditions for a rebound. Wall Street analysts have also been revising earnings estimates higher, providing a possible catalyst for a trend reversal. Down 29.2% in 4 Weeks, Here’s Why You Should You Buy the Dip in MapLight Therapeutics
• Neutral Sentiment: CEO Christopher Kroeger sold 73,691 shares for approximately $595,423, while CFO Jonathan Gillis sold 10,167 shares for approximately $82,149. Both executives retained substantial holdings, and the filings said the sales covered tax obligations tied to equity vesting. CEO Form 4 Filing CFO Form 4 Filing
• Negative Sentiment: Additional insiders Erin Pennock Foff, James Lillie and Anatol Kreitzer sold a combined 39,116 shares for roughly $313,118. Although these were also tax-withholding transactions, the cluster of insider selling can weigh on sentiment and add perceived supply pressure. Erin Pennock Foff Form 4 Filing James Lillie Form 4 Filing Anatol Kreitzer Form 4 Filing

Analysts Set New Price Targets

MPLT has been the subject of several analyst reports. BMO Capital Markets assumed coverage on Maplight Therapeutics in a report on Monday, July 20th. They issued an “outperform” rating and a $46.00 price objective for the company. Wall Street Zen lowered Maplight Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, October 3rd. Morgan Stanley reissued an “equal weight” rating and set a $21.00 target price (down from $34.00) on shares of Maplight Therapeutics in a report on Tuesday, July 28th. Canaccord Genuity Group set a $21.00 price target on Maplight Therapeutics in a research report on Friday, August 14th. Finally, Needham & Company LLC dropped their price target on Maplight Therapeutics from $45.00 to $43.00 and set a “buy” rating for the company in a research note on Monday, August 31st. 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

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.