Maplight Therapeutics (NASDAQ:MPLT) Issues Earnings Results

Maplight Therapeutics (NASDAQ:MPLT) released its quarterly earnings results on Thursday. The company reported ($1.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.43), FiscalAI reports.

Maplight Therapeutics Stock Down 1.9%

Shares of Maplight Therapeutics stock traded down $0.56 during mid-day trading on Friday, hitting $28.73. 176,870 shares of the stock were exchanged, compared to its average volume of 315,265. Maplight Therapeutics has a 12 month low of $12.24 and a 12 month high of $33.28. The firm’s 50-day moving average is $24.24.

Insider Activity at Maplight Therapeutics

In related news, insider James Woodruff Lillie sold 24,811 shares of Maplight Therapeutics stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $28.76, for a total value of $713,564.36. Following the sale, the insider owned 243,450 shares of the company’s stock, valued at approximately $7,001,622. The trade was a 9.25% decrease in their position. The transaction 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. Also, insider Erin Pennock Foff sold 4,438 shares of Maplight Therapeutics stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $28.54, for a total transaction of $126,660.52. Following the completion of the sale, the insider directly owned 346,059 shares in the company, valued at $9,876,523.86. This trade represents a 1.27% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders purchased 25,000 shares of company stock worth $441,168 and sold 391,204 shares worth $11,125,068. 3.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Maplight Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Strs Ohio bought a new stake in shares of Maplight Therapeutics in the 4th quarter worth approximately $53,000. Bank of New York Mellon Corp raised its holdings in 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 valued at $802,000 after acquiring an additional 3,608 shares during the period. Police & Firemen s Retirement System of New Jersey bought a new stake in Maplight Therapeutics during the 4th quarter valued at $70,000. New York State Common Retirement Fund bought a new stake in Maplight Therapeutics during the 4th quarter valued at $93,000. Finally, MetLife Investment Management LLC bought a new stake in Maplight Therapeutics during the 4th quarter valued at $172,000.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on MPLT shares. Wall Street Zen downgraded Maplight Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. TD Cowen initiated coverage on Maplight Therapeutics in a research note on Tuesday, April 7th. They set a “buy” rating for the company. Needham & Company LLC initiated coverage on shares of Maplight Therapeutics in a research report on Wednesday, April 8th. They set a “buy” rating and a $37.00 target price on the stock. Weiss Ratings initiated coverage on shares of Maplight Therapeutics in a research report on Thursday, January 22nd. They set a “sell (e)” rating on the stock. Finally, Canaccord Genuity Group initiated coverage on shares of Maplight Therapeutics in a research report on Thursday, March 19th. They set a “buy” rating and a $35.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.43.

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.