Maplight Therapeutics (NASDAQ:MPLT) Shares Gap Down – Here’s Why
by Renee Jackson · The Cerbat GemMaplight Therapeutics, Inc. (NASDAQ:MPLT – Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $30.05, but opened at $28.34. Maplight Therapeutics shares last traded at $27.6550, with a volume of 13,722 shares traded.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on MPLT shares. TD Cowen started coverage on shares of Maplight Therapeutics in a report on Tuesday, April 7th. They issued a “buy” rating on the stock. Weiss Ratings assumed coverage on shares of Maplight Therapeutics in a report on Thursday, January 22nd. They set a “sell (e)” rating on the stock. Needham & Company LLC assumed coverage on shares of Maplight Therapeutics in a report on Wednesday, April 8th. They set a “buy” rating and a $37.00 price target on the stock. Wall Street Zen lowered shares of Maplight Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Finally, Canaccord Genuity Group assumed coverage on shares of Maplight Therapeutics in a report on Thursday, March 19th. They set a “buy” rating and a $35.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.67.
Get Our Latest Report on Maplight Therapeutics
Maplight Therapeutics Price Performance
The business’s 50-day moving average is $20.15. The company has a market capitalization of $1.18 billion and a PE ratio of -0.70.
Maplight Therapeutics (NASDAQ:MPLT – Get Free Report) last announced its quarterly earnings data on Thursday, March 26th. The company reported ($2.47) EPS for the quarter, missing analysts’ consensus estimates of ($1.05) by ($1.42). As a group, sell-side analysts forecast that Maplight Therapeutics, Inc. will post -3.87 earnings per share for the current fiscal year.
Insider Activity at Maplight Therapeutics
In related news, Director George Pavlov acquired 10,658 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were purchased at an average cost of $17.48 per share, with a total value of $186,301.84. Following the completion of the transaction, the director owned 10,658 shares of the company’s stock, valued at approximately $186,301.84. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert C. Malenka sold 21,262 shares of the business’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $18.55, for a total transaction of $394,410.10. Following the transaction, the director directly owned 371,885 shares in the company, valued at $6,898,466.75. The trade was a 5.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have purchased 39,124 shares of company stock valued at $693,846 and have sold 74,612 shares valued at $1,368,065.
Institutional Trading of Maplight Therapeutics
Large investors have recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. bought a new stake in Maplight Therapeutics in the fourth quarter worth approximately $49,168,000. Goldman Sachs Group Inc. bought a new stake in Maplight Therapeutics in the fourth quarter worth approximately $34,026,000. Perceptive Advisors LLC bought a new stake in Maplight Therapeutics in the fourth quarter worth approximately $9,661,000. Vestal Point Capital LP bought a new stake in Maplight Therapeutics in the fourth quarter worth approximately $6,763,000. Finally, Jain Global LLC bought a new stake in Maplight Therapeutics in the fourth quarter worth approximately $5,756,000.
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.