Insider Selling: Maplight Therapeutics (NASDAQ:MPLT) CEO Sells 34,411 Shares of Stock

Maplight Therapeutics, Inc. (NASDAQ:MPLT) CEO Christopher Kroeger sold 34,411 shares of Maplight Therapeutics stock in a transaction on Friday, May 8th. The shares were sold at an average price of $27.69, for a total value of $952,840.59. Following the completion of the transaction, the chief executive officer owned 1,526,309 shares in the company, valued at approximately $42,263,496.21. The trade was a 2.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Maplight Therapeutics Price Performance

Shares of MPLT traded up $2.69 during midday trading on Monday, hitting $30.09. The company’s stock had a trading volume of 288,241 shares, compared to its average volume of 312,441. Maplight Therapeutics, Inc. has a one year low of $12.24 and a one year high of $33.28. The company’s fifty day moving average price is $23.27. The company has a market cap of $1.28 billion and a PE ratio of -0.76.

Maplight Therapeutics (NASDAQ:MPLT) last issued its quarterly earnings results on Thursday, March 26th. The company reported ($2.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.05) by ($1.42). As a group, equities analysts forecast that Maplight Therapeutics, Inc. will post -3.96 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MPLT shares. Weiss Ratings started coverage on Maplight Therapeutics in a research note on Thursday, January 22nd. They issued a “sell (e)” rating on the stock. Needham & Company LLC started coverage on Maplight Therapeutics in a research note on Wednesday, April 8th. They issued a “buy” rating and a $37.00 price target on the stock. Wall Street Zen lowered Maplight Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. TD Cowen assumed coverage on Maplight Therapeutics in a research note on Tuesday, April 7th. They issued a “buy” rating on the stock. Finally, Canaccord Genuity Group assumed coverage on Maplight Therapeutics in a research report on Thursday, March 19th. They set a “buy” rating and a $35.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.43.

Institutional Investors Weigh In On Maplight Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in MPLT. Strs Ohio acquired a new position in shares of Maplight Therapeutics in the fourth quarter worth approximately $53,000. Blue Owl Capital Holdings LP acquired a new position in shares of Maplight Therapeutics in the fourth quarter worth approximately $5,745,000. Geode Capital Management LLC acquired a new position in shares of Maplight Therapeutics in the fourth quarter worth approximately $6,835,000. Seven Grand Managers LLC acquired a new position in shares of Maplight Therapeutics in the fourth quarter worth approximately $1,756,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Maplight Therapeutics in the fourth quarter worth approximately $34,026,000.

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.