Maplight Therapeutics (NASDAQ:MPLT) Shares Gap Down – Time to Sell?

Maplight Therapeutics, Inc. (NASDAQ:MPLT)’s share price gapped down prior to trading on Monday . The stock had previously closed at $12.17, but opened at $11.06. Maplight Therapeutics shares last traded at $12.3950, with a volume of 150,226 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Stifel Nicolaus boosted their target price on shares of Maplight Therapeutics from $28.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Raymond James Financial started coverage on shares of Maplight Therapeutics in a research note on Wednesday, June 24th. They issued a “strong-buy” rating and a $46.00 price objective for the company. HC Wainwright lowered their target price on shares of Maplight Therapeutics from $45.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, July 28th. BMO Capital Markets assumed coverage on shares of Maplight Therapeutics in a report on Monday, July 20th. They issued an “outperform” rating and a $46.00 target price for the company. Finally, UBS Group downgraded shares of Maplight Therapeutics from a “buy” rating to a “neutral” rating and set a $13.00 price target for the company. in a research report on Monday. Four research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Maplight Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.17.

Maplight Therapeutics Stock Up 1.2%

The company has a market cap of $524.95 million and a price-to-earnings ratio of -0.30. The company has a fifty day simple moving average of $29.00 and a two-hundred day simple moving average of $24.74.

Maplight Therapeutics (NASDAQ:MPLT) last released its quarterly earnings results on Thursday, May 14th. The company reported ($1.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.91) by ($0.43). On average, research analysts predict that Maplight Therapeutics, Inc. will post -5.22 EPS for the current year.

Insider Buying and Selling at Maplight Therapeutics

In other Maplight Therapeutics news, insider James Woodruff Lillie sold 22,082 shares of Maplight Therapeutics stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $12.54, for a total transaction of $276,908.28. Following the completion of the transaction, the insider owned 202,380 shares in the company, valued at approximately $2,537,845.20. The trade was a 9.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Troy Cox purchased 15,620 shares of Maplight Therapeutics stock in a transaction on Tuesday, July 28th. The stock was acquired at an average cost of $9.52 per share, for a total transaction of $148,702.40. Following the acquisition, the director directly owned 15,620 shares of the company’s stock, valued at approximately $148,702.40. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 3.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Maplight Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Strs Ohio acquired a new stake in Maplight Therapeutics during the 4th quarter valued at $53,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Maplight Therapeutics during the fourth quarter valued at $70,000. New York State Common Retirement Fund purchased a new stake in Maplight Therapeutics during the 4th quarter worth about $93,000. MetLife Investment Management LLC acquired a new position in Maplight Therapeutics in the 4th quarter valued at about $172,000. Finally, Deutsche Bank AG acquired a new position in Maplight Therapeutics in the 2nd quarter valued at about $370,000.

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.