Maplight Therapeutics (NASDAQ:MPLT) Trading Down 5.4% – Should You Sell?

Shares of Maplight Therapeutics, Inc. (NASDAQ:MPLT) were down 5.4% on Wednesday . The stock traded as low as $35.52 and last traded at $35.8810. Approximately 13,574 shares changed hands during trading, a decline of 95% from the average daily volume of 291,457 shares. The stock had previously closed at $37.91.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. UBS Group initiated coverage on shares of Maplight Therapeutics in a research note on Tuesday, May 26th. They issued a “buy” rating and a $48.00 price target on the stock. Raymond James Financial started coverage on shares of Maplight Therapeutics in a report on Wednesday, June 24th. They issued a “strong-buy” rating and a $46.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Maplight Therapeutics in a research note on Monday. Wolfe Research upgraded Maplight Therapeutics to a “strong-buy” rating in a research report on Friday, July 10th. Finally, Craig Hallum dropped their price objective on Maplight Therapeutics from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, June 23rd. Five analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Maplight Therapeutics presently has an average rating of “Buy” and a consensus price target of $39.10.

Maplight Therapeutics Stock Down 0.3%

The company’s 50-day moving average price is $31.33 and its 200-day moving average price is $24.28. The firm has a market cap of $1.59 billion and a price-to-earnings ratio of -0.91.

Maplight Therapeutics (NASDAQ:MPLT) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($1.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.91) by ($0.43). On average, sell-side analysts predict that Maplight Therapeutics, Inc. will post -5.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Maplight Therapeutics news, insider Jonathan Gillis sold 51,900 shares of the business’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $29.74, for a total value of $1,543,506.00. Following the completion of the transaction, the insider owned 199,154 shares in the company, valued at $5,922,839.96. The trade was a 20.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Erin Pennock Foff sold 24,052 shares of the stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $28.76, for a total value of $691,735.52. Following the completion of the sale, the insider owned 350,497 shares in the company, valued at approximately $10,080,293.72. The trade was a 6.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 495,244 shares of company stock worth $14,079,461 over the last three months. 3.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Maplight Therapeutics

Several large investors have recently bought and sold shares of MPLT. Strs Ohio purchased a new position in shares of Maplight Therapeutics in the 4th quarter valued at about $53,000. Bank of New York Mellon Corp increased its stake in shares of Maplight Therapeutics by 10.1% during the first quarter. Bank of New York Mellon Corp now owns 39,465 shares of the company’s stock worth $802,000 after buying an additional 3,608 shares during the period. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Maplight Therapeutics during the fourth quarter worth approximately $70,000. New York State Common Retirement Fund acquired a new stake in Maplight Therapeutics in the fourth quarter valued at approximately $93,000. Finally, MetLife Investment Management LLC acquired a new stake in Maplight Therapeutics in the fourth quarter valued at approximately $172,000.

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.