Maplight Therapeutics, Inc.’s (NASDAQ:MPLT) Lock-Up Period Will End on April 27th
by Danessa Lincoln · The Markets DailyMaplight Therapeutics’ (NASDAQ:MPLT – Get Free Report) lock-up period will end on Monday, April 27th. Maplight Therapeutics had issued 14,750,000 shares in its initial public offering on October 27th. The total size of the offering was $250,750,000 based on an initial share price of $17.00. After the end of Maplight Therapeutics’ lock-up period, company insiders and major shareholders will be able to sell their shares of the company.
Analysts Set New Price Targets
A number of research firms have issued reports on MPLT. Weiss Ratings began coverage on shares of Maplight Therapeutics in a research report on Thursday, January 22nd. They issued a “sell (e)” rating for the company. Canaccord Genuity Group began coverage on Maplight Therapeutics in a report on Thursday, March 19th. They set a “buy” rating and a $35.00 price objective for the company. Wall Street Zen lowered Maplight Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Needham & Company LLC began coverage on Maplight Therapeutics in a report on Wednesday, April 8th. They set a “buy” rating and a $37.00 price objective for the company. Finally, TD Cowen began coverage on Maplight Therapeutics in a report on Tuesday, April 7th. They set a “buy” rating for the company. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.67.
Read Our Latest Research Report on MPLT
Maplight Therapeutics Trading Down 9.4%
Shares of NASDAQ:MPLT opened at $29.11 on Friday. Maplight Therapeutics has a 1 year low of $12.24 and a 1 year high of $33.28. The stock’s fifty day moving average price is $20.87. The stock has a market capitalization of $1.24 billion and a price-to-earnings ratio of -0.73.
Maplight Therapeutics (NASDAQ:MPLT – Get Free Report) last announced 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). On average, sell-side analysts anticipate that Maplight Therapeutics will post -3.87 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Maplight Therapeutics news, Director Timothy John Garnett bought 14,124 shares of the stock in a transaction on Tuesday, February 10th. The shares were purchased at an average cost of $17.89 per share, with a total value of $252,678.36. Following the completion of the transaction, the director directly owned 14,124 shares of the company’s stock, valued at $252,678.36. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert C. Malenka sold 21,262 shares of the stock in a transaction on Thursday, January 29th. The stock was 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. The SEC filing for this sale provides additional information. Over the last three months, insiders have acquired 39,124 shares of company stock valued at $693,846 and have sold 74,612 shares valued at $1,368,065.
Hedge Funds Weigh In On Maplight Therapeutics
Several hedge funds have recently bought and sold shares of the business. Fcpm Iii Services B.V. acquired a new position in Maplight Therapeutics during the fourth quarter worth $56,672,000. T. Rowe Price Investment Management Inc. acquired a new position in Maplight Therapeutics during the fourth quarter worth $49,154,000. Goldman Sachs Group Inc. acquired a new position in Maplight Therapeutics during the fourth quarter worth $34,026,000. Nan Fung Group Holdings Ltd acquired a new position in Maplight Therapeutics during the fourth quarter worth $17,060,000. Finally, 5AM Venture Management LLC acquired a new position in Maplight Therapeutics during the fourth quarter worth $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.