Maplight Therapeutics (NASDAQ:MPLT) Stock: Insider Christopher Kroeger Sells 73,691 Shares

Maplight Therapeutics, Inc. (NASDAQ:MPLT) CEO Christopher Kroeger sold 73,691 shares of the firm’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $8.08, for a total transaction of $595,423.28. Following the sale, the chief executive officer directly owned 1,195,909 shares of the company’s stock, valued at approximately $9,662,944.72. The trade was a 5.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Maplight Therapeutics Price Performance

Shares of NASDAQ:MPLT traded down $0.32 during trading on Friday, reaching $7.70. The stock had a trading volume of 359,069 shares, compared to its average volume of 472,697. The stock has a market capitalization of $427.94 million and a PE ratio of -0.18. Maplight Therapeutics, Inc. has a 52 week low of $7.46 and a 52 week high of $40.43. The business’s 50-day moving average price is $11.33 and its 200 day moving average price is $22.47.

Maplight Therapeutics (NASDAQ:MPLT) last released its quarterly earnings results on Thursday, August 13th. The company reported ($1.32) EPS for the quarter, topping analysts’ consensus estimates of ($1.40) by $0.08. Analysts forecast that Maplight Therapeutics, Inc. will post -5.01 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on MPLT. Weiss Ratings restated a “sell (d-)” rating on shares of Maplight Therapeutics in a report on Friday, October 9th. Wolfe Research restated an “outperform” rating and issued a $30.00 target price on shares of Maplight Therapeutics in a research note on Monday, July 27th. Craig Hallum reaffirmed a “buy” rating and issued a $25.00 price target on shares of Maplight Therapeutics in a report on Tuesday, July 28th. HC Wainwright reduced their price target on shares of Maplight Therapeutics from $45.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, July 28th. Finally, Raymond James Financial set a $31.00 price objective on shares of Maplight Therapeutics in a report on Friday, August 14th. Four equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Maplight Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $29.50.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP lifted its holdings in Maplight Therapeutics by 12.4% during the 2nd quarter. Wellington Management Group LLP now owns 51,917 shares of the company’s stock worth $1,861,000 after buying an additional 5,709 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of Maplight Therapeutics during the second quarter worth $1,952,000. Freestone Grove Partners LP bought a new stake in shares of Maplight Therapeutics during the second quarter worth $6,054,000. 5AM Venture Management LLC acquired a new position in shares of Maplight Therapeutics during the second quarter valued at $34,048,394. Finally, ADAR1 Capital Management LLC acquired a new position in shares of Maplight Therapeutics during the second quarter valued at $950,000.

Maplight Therapeutics Company Profile

MapLight Therapeutics is a clinical-stage biopharmaceutical company developing medicines for neuropsychiatric and neurological disorders. The company focuses on conditions for which existing treatments may provide limited benefits or cause significant side effects.

MapLight uses a neuroscience-focused drug discovery and development approach to identify therapies intended to address the underlying biology of central nervous system disorders. Its pipeline includes investigational small-molecule treatments being studied for conditions such as schizophrenia and other serious mental health disorders.

The company conducts research and clinical development in the United States.