Maplight Therapeutics (NASDAQ:MPLT) Rating Increased to Sell at Wall Street Zen

Wall Street Zen upgraded shares of Maplight Therapeutics (NASDAQ:MPLT) from a strong sell rating to a sell rating in a research note published on Saturday.

Several other research firms have also weighed in on MPLT. HC Wainwright reduced their price objective on Maplight Therapeutics from $45.00 to $26.00 and set a “buy” rating on the stock in a research note 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. Lifesci Capital upgraded shares of Maplight Therapeutics to a “strong-buy” rating in a research note on Thursday, May 14th. UBS Group lowered shares of Maplight Therapeutics from a “buy” rating to a “neutral” rating and decreased their price target for the company from $52.00 to $13.00 in a report on Monday, August 10th. Finally, Canaccord Genuity Group set a $21.00 price objective on shares of Maplight Therapeutics in a research report on Friday. Four investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Maplight Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $29.67.

Maplight Therapeutics Price Performance

NASDAQ MPLT opened at $11.75 on Friday. The business has a fifty day moving average price of $27.31 and a two-hundred day moving average price of $24.49. Maplight Therapeutics has a fifty-two week low of $9.10 and a fifty-two week high of $40.43. The stock has a market capitalization of $500.79 million and a PE ratio of -0.28.

Maplight Therapeutics (NASDAQ:MPLT) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($1.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.40) by $0.08. As a group, sell-side analysts expect that Maplight Therapeutics will post -5.22 earnings per share for the current year.

Insider Activity

In other news, CEO Christopher A. Kroeger sold 118,235 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $27.19, for a total transaction of $3,214,809.65. Following the sale, the chief executive officer directly owned 1,394,094 shares in the company, valued at approximately $37,905,415.86. The trade was a 7.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James Woodruff Lillie sold 22,082 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $12.54, for a total value of $276,908.28. Following the completion of the transaction, the insider directly owned 202,380 shares of the company’s stock, valued at $2,537,845.20. This represents a 9.84% 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. Insiders own 3.80% of the company’s stock.

Institutional Trading of Maplight Therapeutics

Institutional investors have recently modified their holdings of the business. Freestone Grove Partners LP acquired a new stake in Maplight Therapeutics in the second quarter valued at $6,054,000. 5AM Venture Management LLC acquired a new position in Maplight Therapeutics during the 2nd quarter worth about $34,048,394,000. ADAR1 Capital Management LLC acquired a new position in Maplight Therapeutics during the 2nd quarter worth about $950,000. Legal & General Group Plc bought a new stake in shares of Maplight Therapeutics in the 2nd quarter valued at about $37,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Maplight Therapeutics in the second quarter valued at about $252,000.

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.