Maplight Therapeutics (NASDAQ:MPLT) Stock Bumped Up to Sell by 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 report sent to investors on Saturday,Wall Street Zen reports.

MPLT has been the topic of several other research reports. Guggenheim began coverage on Maplight Therapeutics in a report on Monday, October 5th. They set a “neutral” rating on the stock. Craig Hallum reiterated a “buy” rating and set a $25.00 price target on shares of Maplight Therapeutics in a report on Tuesday, July 28th. Morgan Stanley lowered shares of Maplight Therapeutics from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $34.00 to $21.00 in a research report on Tuesday, July 28th. UBS Group cut shares of Maplight Therapeutics from a “buy” rating to a “neutral” rating and reduced their target price for the company from $52.00 to $13.00 in a research note on Monday, August 10th. Finally, Weiss Ratings downgraded shares of Maplight Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 23rd. Four analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Maplight Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $29.50.

Maplight Therapeutics Stock Performance

MPLT opened at $7.58 on Friday. Maplight Therapeutics has a one year low of $7.44 and a one year high of $40.43. The stock’s fifty day moving average is $10.45 and its 200-day moving average is $20.40. The company has a market capitalization of $421.27 million and a PE ratio of -0.18.

Maplight Therapeutics (NASDAQ:MPLT) last announced its earnings results on Thursday, August 13th. The company reported ($1.32) earnings per share for the quarter, beating the consensus estimate of ($1.40) by $0.08. On average, equities research analysts forecast that Maplight Therapeutics will post -5.01 EPS for the current fiscal year.

Insider Buying and Selling at Maplight Therapeutics

In related news, CFO Jonathan Gillis sold 10,167 shares of the business’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 value of $82,149.36. Following the completion of the sale, the chief financial officer directly owned 142,315 shares in the company, valued at approximately $1,149,905.20. The trade was a 6.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider James Lillie sold 22,082 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $12.54, for a total value of $276,908.28. Following the sale, the insider directly owned 202,380 shares of the company’s stock, valued at $2,537,845.20. The trade was 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 have sold a total of 145,056 shares of company stock worth $1,267,599 in the last 90 days. Company insiders own 3.80% of the company’s stock.

Institutional Trading of Maplight Therapeutics

Several large investors have recently modified their holdings of MPLT. BlackRock Inc. acquired a new position in shares of Maplight Therapeutics during the 2nd quarter worth about $36,741,000. Nan Fung Group Holdings Ltd bought a new stake in Maplight Therapeutics during the 2nd quarter valued at approximately $34,809,708. 5AM Venture Management LLC acquired a new stake in Maplight Therapeutics in the 2nd quarter valued at approximately $34,048,394. Blue Owl Capital Holdings LP acquired a new stake in Maplight Therapeutics in the 2nd quarter valued at approximately $26,161,000. Finally, ADAR1 Capital Management LLC acquired a new stake in Maplight Therapeutics in the 1st quarter valued at approximately $7,622,000.

Maplight Therapeutics Company Profile

MapLight Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for neuropsychiatric and neurological disorders. The company’s research is centered on therapies designed to address underlying dysfunction in brain circuits and improve symptoms associated with serious conditions affecting the central nervous system.

MapLight is advancing a pipeline of investigational drug candidates through preclinical and clinical development. Its programs are intended to target significant unmet needs in areas such as schizophrenia and other neuropsychiatric conditions.