Maplight Therapeutics (NASDAQ:MPLT) Stock: Insider Erin Pennock Foff Sells 15,355 Shares

Maplight Therapeutics, Inc. (NASDAQ:MPLT) insider Erin Pennock Foff sold 15,355 shares of Maplight Therapeutics stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $8.08, for a total transaction of $124,068.40. Following the sale, the insider owned 296,906 shares of the company’s stock, valued at approximately $2,399,000.48. This trade represents a 4.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Maplight Therapeutics Stock Performance

Shares of MPLT opened at $7.70 on Friday. The company has a market capitalization of $427.97 million and a price-to-earnings ratio of -0.18. The company’s 50 day simple moving average is $11.24 and its 200 day simple moving average is $22.37. Maplight Therapeutics, Inc. has a 1 year low of $7.46 and a 1 year high of $40.43.

Maplight Therapeutics (NASDAQ:MPLT) last announced its earnings results on Thursday, August 13th. The company reported ($1.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.40) by $0.08. Equities analysts expect that Maplight Therapeutics, Inc. will post -5.01 EPS for the current fiscal year.

Analyst Ratings Changes

MPLT has been the topic of several analyst reports. UBS Group cut Maplight Therapeutics from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $52.00 to $13.00 in a report on Monday, August 10th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Maplight Therapeutics in a research report on Monday, July 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Maplight Therapeutics in a research note on Friday, October 9th. Craig Hallum reiterated a “buy” rating and issued a $25.00 target price on shares of Maplight Therapeutics in a research note on Tuesday, July 28th. Finally, Guggenheim assumed coverage on Maplight Therapeutics in a research report on Monday, October 5th. They set a “neutral” rating on the stock. Four analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Maplight Therapeutics has an average rating of “Moderate Buy” and an average price target of $29.50.

Institutional Investors Weigh In On Maplight Therapeutics

Several hedge funds have recently modified their holdings of MPLT. BlackRock Inc. purchased a new stake in Maplight Therapeutics in the second quarter valued at approximately $36,741,000. Nan Fung Group Holdings Ltd purchased a new position in Maplight Therapeutics during the second quarter worth approximately $34,809,708. 5AM Venture Management LLC purchased a new position in Maplight Therapeutics during the fourth quarter worth approximately $16,687,000. Blue Owl Capital Holdings LP purchased a new position in Maplight Therapeutics during the second quarter worth approximately $26,161,000. Finally, ADAR1 Capital Management LLC acquired a new position in shares of Maplight Therapeutics in the 1st quarter valued at $7,622,000.

Trending Headlines about Maplight Therapeutics

Here are the key news stories impacting Maplight Therapeutics this week:

• Positive Sentiment: MapLight Therapeutics is described as technically oversold after falling 29.2% over four weeks, potentially creating conditions for a rebound. Wall Street analysts have also been revising earnings estimates higher, providing a possible catalyst for a trend reversal. Down 29.2% in 4 Weeks, Here’s Why You Should You Buy the Dip in MapLight Therapeutics
• Neutral Sentiment: CEO Christopher Kroeger sold 73,691 shares for approximately $595,423, while CFO Jonathan Gillis sold 10,167 shares for approximately $82,149. Both executives retained substantial holdings, and the filings said the sales covered tax obligations tied to equity vesting. CEO Form 4 Filing CFO Form 4 Filing
• Negative Sentiment: Additional insiders Erin Pennock Foff, James Lillie and Anatol Kreitzer sold a combined 39,116 shares for roughly $313,118. Although these were also tax-withholding transactions, the cluster of insider selling can weigh on sentiment and add perceived supply pressure. Erin Pennock Foff Form 4 Filing James Lillie Form 4 Filing Anatol Kreitzer Form 4 Filing

Maplight Therapeutics Company Profile

MapLight Therapeutics is a clinical-stage biopharmaceutical company developing medicines for neuropsychiatric and neurological disorders. The company focuses on conditions for which existing treatments may provide limited benefits or cause significant side effects.

MapLight uses a neuroscience-focused drug discovery and development approach to identify therapies intended to address the underlying biology of central nervous system disorders. Its pipeline includes investigational small-molecule treatments being studied for conditions such as schizophrenia and other serious mental health disorders.

The company conducts research and clinical development in the United States.