Insider Selling: Maplight Therapeutics (NASDAQ:MPLT) Director Sells 6,612 Shares of Stock

Maplight Therapeutics, Inc. (NASDAQ:MPLT) Director Robert Malenka sold 6,612 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $18.11, for a total value of $119,743.32. Following the transaction, the director owned 365,273 shares of the company’s stock, valued at approximately $6,615,094.03. This represents a 1.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Maplight Therapeutics Stock Down 4.8%

NASDAQ:MPLT traded down $0.89 during trading hours on Friday, hitting $17.69. The company had a trading volume of 259,632 shares, compared to its average volume of 186,272. The company’s 50-day simple moving average is $17.62. The firm has a market cap of $802.60 million and a P/E ratio of -0.48. Maplight Therapeutics, Inc. has a 52 week low of $12.24 and a 52 week high of $21.55.

Maplight Therapeutics (NASDAQ:MPLT) last posted its earnings results on Thursday, December 4th. The company reported ($37.18) EPS for the quarter, missing the consensus estimate of ($1.86) by ($35.32).

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MPLT. Leerink Partners assumed coverage on Maplight Therapeutics in a report on Friday, November 21st. They set an “outperform” rating and a $30.00 target price on the stock. Morgan Stanley assumed coverage on Maplight Therapeutics in a research note on Friday, November 21st. They issued an “overweight” rating and a $34.00 price target on the stock. Jefferies Financial Group started coverage on Maplight Therapeutics in a report on Friday, November 21st. They issued a “buy” rating and a $32.00 price objective for the company. Wall Street Zen upgraded shares of Maplight Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, December 20th. Finally, Zacks Research raised shares of Maplight Therapeutics to a “hold” rating in a research report on Monday, November 24th. One equities research 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus 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.