Maplight Therapeutics (NASDAQ:MPLT) Insider Sells 11,513 Shares of Company Stock

Key Points

• Insider sale: James Lillie sold 11,513 Maplight Therapeutics shares at an average $8.08 for approximately $93,025, reducing his ownership by 5.48%. The sale was reportedly intended to cover tax withholding on vested equity awards.
• Stock performance: MPLT fell to $7.70, near its 52-week low of $7.46, and remains well below its 52-week high of $40.43. The company reported a quarterly loss of $1.32 per share, though this was better than analyst expectations.
• Analyst outlook: Despite mixed ratings, including a recent “strong sell” downgrade and a “neutral” initiation, analysts collectively maintain a “Moderate Buy” rating with a consensus price target of $29.50.

Maplight Therapeutics, Inc. (NASDAQ:MPLT - Get Free Report) insider James Lillie sold 11,513 shares of Maplight Therapeutics stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $8.08, for a total transaction of $93,025.04. Following the completion of the transaction, the insider owned 198,597 shares of the company's stock, valued at $1,604,663.76. This represents a 5.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

James Woodruff Lillie also recently made the following trade(s):

• On Monday, August 3rd, James Lillie sold 22,082 shares of Maplight Therapeutics stock. The shares were sold at an average price of $12.54, for a total transaction of $276,908.28.

Maplight Therapeutics Price Performance

Shares of NASDAQ:MPLT traded down $0.32 during trading on Friday, hitting $7.70. 359,069 shares of the company were exchanged, compared to its average volume of 472,697. The company has a market cap of $427.94 million and a PE ratio of -0.18. The stock has a 50 day moving average of $11.33 and a 200 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 results on Thursday, August 13th. The company reported ($1.32) EPS for the quarter, topping analysts' consensus estimates of ($1.40) by $0.08. Sell-side analysts forecast that Maplight Therapeutics, Inc. will post -5.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Nan Fung Group Holdings Ltd bought a new position in shares of Maplight Therapeutics in the second quarter worth $34,809,708. BlackRock Inc. purchased a new stake in shares of Maplight Therapeutics in the second quarter worth $36,741,000. Blue Owl Capital Holdings LP bought a new stake in Maplight Therapeutics during the second quarter valued at $26,161,000. ADAR1 Capital Management LLC bought a new stake in Maplight Therapeutics during the first quarter valued at $7,622,000. Finally, 5AM Venture Management LLC purchased a new position in Maplight Therapeutics during the second quarter worth about $34,048,394.

Wall Street Analyst Weigh In

Several brokerages have commented on MPLT. Wall Street Zen downgraded Maplight Therapeutics from a "sell" rating to a "strong sell" rating in a research note on Saturday, October 3rd. Needham & Company LLC reduced their target price on Maplight Therapeutics from $45.00 to $43.00 and set a "buy" rating for the company in a report on Monday, August 31st. Craig Hallum reiterated a "buy" rating and set a $25.00 price target on shares of Maplight Therapeutics in a research report on Tuesday, July 28th. Benchmark reissued a "buy" rating on shares of Maplight Therapeutics in a report on Monday, June 22nd. Finally, Guggenheim started coverage on shares of Maplight Therapeutics in a report on Monday, October 5th. They issued a "neutral" rating on the stock. Four research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Maplight Therapeutics has an average rating of "Moderate Buy" and a consensus target price of $29.50.

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.

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