Insider Selling: Maplight Therapeutics (NASDAQ:MPLT) Insider Sells 17,935 Shares of Stock

Maplight Therapeutics, Inc. (NASDAQ:MPLT) insider Jonathan Gillis sold 17,935 shares of the company’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $30.35, for a total transaction of $544,327.25. Following the sale, the insider directly owned 181,219 shares of the company’s stock, valued at approximately $5,499,996.65. This trade represents a 9.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jonathan Gillis also recently made the following trade(s):

• On Monday, April 27th, Jonathan Gillis sold 51,900 shares of Maplight Therapeutics stock. The stock was sold at an average price of $29.74, for a total transaction of $1,543,506.00.

Maplight Therapeutics Stock Performance

Maplight Therapeutics stock traded down $0.02 during trading on Wednesday, reaching $30.29. 201,211 shares of the company’s stock were exchanged, compared to its average volume of 232,290. The business’s 50-day simple moving average is $21.65. Maplight Therapeutics, Inc. has a 52-week low of $12.24 and a 52-week high of $33.28. The company has a market cap of $1.29 billion and a price-to-earnings ratio of -0.76.

Maplight Therapeutics (NASDAQ:MPLT) last announced its quarterly earnings results on Thursday, March 26th. The company reported ($2.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.05) by ($1.42). As a group, research analysts anticipate that Maplight Therapeutics, Inc. will post -3.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Maplight Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. acquired a new position in Maplight Therapeutics in the 4th quarter worth $49,168,000. Invesco Ltd. acquired a new position in Maplight Therapeutics in the 4th quarter worth $228,000. Vestal Point Capital LP acquired a new position in Maplight Therapeutics in the 4th quarter worth $6,763,000. Tudor Investment Corp ET AL acquired a new position in Maplight Therapeutics in the 4th quarter worth $840,000. Finally, Orbimed Advisors LLC acquired a new position in Maplight Therapeutics in the 4th quarter worth $952,000.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MPLT shares. Weiss Ratings started coverage on shares of Maplight Therapeutics in a research report on Thursday, January 22nd. They set a “sell (e)” rating for the company. Canaccord Genuity Group started coverage on shares of Maplight Therapeutics in a research report on Thursday, March 19th. They set a “buy” rating and a $35.00 price target for the company. TD Cowen started coverage on shares of Maplight Therapeutics in a research report on Tuesday, April 7th. They set a “buy” rating for the company. Wall Street Zen lowered shares of Maplight Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Finally, Needham & Company LLC started coverage on shares of Maplight Therapeutics in a report on Wednesday, April 8th. They issued a “buy” rating and a $37.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Maplight Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.67.

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.