Maplight Therapeutics (NASDAQ:MPLT) CEO Sells $3,214,809.65 in Stock

Maplight Therapeutics, Inc. (NASDAQ:MPLT) CEO Christopher Kroeger sold 118,235 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer owned 1,394,094 shares in the company, valued at $37,905,415.86. The trade was a 7.82% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Maplight Therapeutics Stock Up 2.7%

Shares of MPLT stock opened at $27.81 on Thursday. The company has a fifty day moving average price of $24.74. The stock has a market cap of $1.19 billion and a price-to-earnings ratio of -0.68. Maplight Therapeutics, Inc. has a fifty-two week low of $12.24 and a fifty-two week high of $33.28.

Maplight Therapeutics (NASDAQ:MPLT) last issued its earnings results on Thursday, May 14th. The company reported ($1.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.43). As a group, equities research analysts predict that Maplight Therapeutics, Inc. will post -4.45 earnings per share for the current year.

Institutional Trading of Maplight Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC acquired a new stake in shares of Maplight Therapeutics during the 1st quarter worth about $1,113,000. ADAR1 Capital Management LLC acquired a new stake in shares of Maplight Therapeutics during the 1st quarter worth about $7,622,000. Bank of New York Mellon Corp increased its position in shares of Maplight Therapeutics by 10.1% during the 1st quarter. Bank of New York Mellon Corp now owns 39,465 shares of the company’s stock worth $802,000 after purchasing an additional 3,608 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Maplight Therapeutics during the 4th quarter worth about $49,168,000. Finally, Invesco Ltd. acquired a new stake in shares of Maplight Therapeutics during the 4th quarter worth about $228,000.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Lifesci Capital raised Maplight Therapeutics to a “strong-buy” rating in a research note on Thursday, May 14th. Wall Street Zen downgraded Maplight Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. HC Wainwright assumed coverage on Maplight Therapeutics in a research note on Monday, May 4th. They issued a “buy” rating and a $45.00 target price for the company. Needham & Company LLC assumed coverage on Maplight Therapeutics in a research note on Wednesday, April 8th. They issued a “buy” rating and a $37.00 target price for the company. Finally, Weiss Ratings assumed coverage on Maplight Therapeutics in a research note on Thursday, January 22nd. They issued a “sell (e)” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $34.43.

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.