Maplight Therapeutics (NASDAQ:MPLT) Trading Down 6.9% – Time to Sell?
by Scott Moore · The Cerbat GemMaplight Therapeutics, Inc. (NASDAQ:MPLT – Get Free Report) fell 6.9% during trading on Friday . The stock traded as low as $27.79 and last traded at $27.3910. 147,620 shares were traded during trading, a decline of 29% from the average session volume of 206,496 shares. The stock had previously closed at $29.41.
Analyst Upgrades and Downgrades
Several brokerages have commented on MPLT. Weiss Ratings began coverage on Maplight Therapeutics in a research note on Thursday, January 22nd. They set a “sell (e)” rating for the company. TD Cowen began coverage on Maplight Therapeutics in a research note on Tuesday. They set a “buy” rating for the company. Canaccord Genuity Group began coverage on Maplight Therapeutics in a research note on Thursday, March 19th. They set a “buy” rating and a $35.00 target price for the company. Needham & Company LLC began coverage on Maplight Therapeutics in a research note on Wednesday. They set a “buy” rating and a $37.00 target price for the company. Finally, Wall Street Zen downgraded Maplight Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.67.
Maplight Therapeutics Trading Down 7.9%
The company’s 50 day moving average is $18.67. The stock has a market capitalization of $1.15 billion and a P/E ratio of -0.68.
Maplight Therapeutics (NASDAQ:MPLT – Get Free Report) last released 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).
Insider Buying and Selling at Maplight Therapeutics
In other news, Director George Pavlov bought 9,920 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was acquired at an average price of $17.86 per share, with a total value of $177,171.20. Following the transaction, the director owned 25,000 shares of the company’s stock, valued at $446,500. This trade represents a 65.78% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy John Garnett bought 14,124 shares of the firm’s 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 transaction, the director directly owned 14,124 shares in the company, valued at approximately $252,678.36. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders bought 39,124 shares of company stock valued at $693,846 and sold 74,612 shares valued at $1,368,065.
Institutional Trading of Maplight Therapeutics
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MPLT. Fcpm Iii Services B.V. acquired a new stake in Maplight Therapeutics during the 4th quarter valued at approximately $56,672,000. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Maplight Therapeutics during the 4th quarter worth approximately $49,154,000. Goldman Sachs Group Inc. acquired a new stake in shares of Maplight Therapeutics during the 4th quarter worth approximately $34,026,000. Nan Fung Group Holdings Ltd acquired a new stake in shares of Maplight Therapeutics during the 4th quarter worth approximately $17,060,000. Finally, 5AM Venture Management LLC acquired a new stake in shares of Maplight Therapeutics during the 4th quarter worth approximately $16,687,000.
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.