Insider Selling: Maplight Therapeutics (NASDAQ:MPLT) CEO Sells $420,937.80 in Stock

Maplight Therapeutics, Inc. (NASDAQ:MPLT) CEO Christopher Kroeger sold 13,980 shares of Maplight Therapeutics stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $30.11, for a total value of $420,937.80. Following the sale, the chief executive officer directly owned 1,512,329 shares of the company’s stock, valued at approximately $45,536,226.19. This represents a 0.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Maplight Therapeutics Trading Up 1.2%

Shares of MPLT stock opened at $30.67 on Thursday. The firm has a market cap of $1.31 billion and a PE ratio of -0.77. The company has a 50-day moving average of $23.80. Maplight Therapeutics, Inc. has a 52-week low of $12.24 and a 52-week high of $33.28.

Maplight Therapeutics (NASDAQ:MPLT) last issued its quarterly earnings data 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, research analysts expect that Maplight Therapeutics, Inc. will post -3.96 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Canaccord Genuity Group assumed coverage on Maplight Therapeutics in a research note on Thursday, March 19th. They issued a “buy” rating and a $35.00 price target for the company. TD Cowen began coverage on Maplight Therapeutics in a report on Tuesday, April 7th. They set a “buy” rating on the stock. Needham & Company LLC began coverage on Maplight Therapeutics in a report on Wednesday, April 8th. They issued a “buy” rating and a $37.00 price objective on the stock. HC Wainwright started coverage on Maplight Therapeutics in a report on Monday, May 4th. They issued a “buy” rating and a $45.00 price objective on the stock. Finally, Weiss Ratings started coverage on Maplight Therapeutics in a research note on Thursday, January 22nd. They set a “sell (e)” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.43.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Fcpm Iii Services B.V. acquired a new stake in shares of Maplight Therapeutics during the fourth quarter worth about $56,672,000. T. Rowe Price Investment Management Inc. acquired a new stake in Maplight Therapeutics in the fourth quarter valued at about $49,154,000. Goldman Sachs Group Inc. acquired a new stake in Maplight Therapeutics in the fourth quarter valued at about $34,026,000. Nan Fung Group Holdings Ltd purchased a new position in Maplight Therapeutics in the fourth quarter valued at about $17,060,000. Finally, 5AM Venture Management LLC acquired a new stake in Maplight Therapeutics in the fourth quarter valued at $16,687,000.

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.