Maplight Therapeutics (NASDAQ:MPLT) CEO Christopher Kroeger Sells 73,691 Shares of Company Stock

Key Points

• CEO Christopher Kroeger sold 73,691 shares of Maplight Therapeutics at an average price of $8.08, generating $595,423; the filing said the sale covered tax-withholding obligations tied to vested equity awards.
• MPLT shares fell 4.0% to $7.70, near the company’s 52-week low of $7.46, while the stock’s market capitalization stood at approximately $427.9 million.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $29.50, although ratings range from Strong Buy to Sell; the company recently reported a quarterly loss of $1.32 per share, slightly better than estimates.

Maplight Therapeutics, Inc. (NASDAQ:MPLT - Get Free Report) CEO Christopher Kroeger sold 73,691 shares of the business's stock in a transaction 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 transaction, the chief executive officer directly owned 1,195,909 shares of the company's stock, valued at approximately $9,662,944.72. This represents a 5.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Maplight Therapeutics Stock Down 4.0%

MPLT stock traded down $0.32 during mid-day trading on Friday, reaching $7.70. 359,069 shares of the stock traded hands, compared to its average volume of 472,697. The firm has a market capitalization of $427.94 million and a PE ratio of -0.18. The business has a 50-day moving average of $11.33 and a two-hundred day moving average of $22.47. Maplight Therapeutics, Inc. has a 52 week low of $7.46 and a 52 week high of $40.43.

Maplight Therapeutics (NASDAQ:MPLT - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($1.32) EPS for the quarter, topping analysts' consensus estimates of ($1.40) by $0.08. On average, equities research analysts anticipate that Maplight Therapeutics, Inc. will post -5.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on MPLT. Canaccord Genuity Group set a $21.00 price target on Maplight Therapeutics in a research report on Friday, August 14th. Guggenheim started coverage on Maplight Therapeutics in a report on Monday, October 5th. They set a "neutral" rating for the company. Raymond James Financial set a $31.00 price objective on Maplight Therapeutics in a research report on Friday, August 14th. Jefferies Financial Group restated a "buy" rating on shares of Maplight Therapeutics in a research note on Monday, July 27th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Maplight Therapeutics in a research report on Friday, October 9th. Four equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $29.50.

Institutional Trading of Maplight Therapeutics

Several institutional investors have recently bought and sold shares of MPLT. Legal & General Group Plc acquired a new position in Maplight Therapeutics during the second quarter worth $37,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Maplight Therapeutics in the 2nd quarter valued at $252,000. Deutsche Bank AG bought a new stake in shares of Maplight Therapeutics in the 2nd quarter worth about $370,000. ADAR1 Capital Management LLC bought a new stake in shares of Maplight Therapeutics in the 2nd quarter worth about $950,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Maplight Therapeutics in the 2nd quarter worth about $1,090,000.

About Maplight Therapeutics

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.

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