Maplight Therapeutics, Inc.'s (NASDAQ:MPLT) Lock-Up Period To Expire on April 27th

Key Points

• Lock-up expiration: On Monday, April 27 the company's IPO lock-up ends, making 14,750,000 shares (a $250.75M offering at $17 per share) held by insiders and major shareholders eligible to trade.
• Analyst consensus: MarketBeat shows a "Moderate Buy" consensus with an average target of $32.67, reflecting one Strong Buy, six Buys, one Hold and one Sell rating.
• Insiders and performance: Directors recently both bought (10,658 shares at $17.48) and sold (21,262 shares at $18.55) stock, insiders net sold more than they bought last quarter, and the company missed results with a ($2.47) EPS vs. a ($1.05) consensus.

Maplight Therapeutics' (NASDAQ:MPLT - Get Free Report) lock-up period is set to expire on Monday, April 27th. Maplight Therapeutics had issued 14,750,000 shares in its IPO on October 27th. The total size of the offering was $250,750,000 based on an initial share price of $17.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the end of the lock-up period.

Analyst Upgrades and Downgrades

MPLT has been the subject of several research reports. Weiss Ratings initiated coverage on shares of Maplight Therapeutics in a report on Thursday, January 22nd. They issued a "sell (e)" rating for the company. Canaccord Genuity Group started coverage on shares of Maplight Therapeutics in a research note on Thursday, March 19th. They issued a "buy" rating and a $35.00 price target for the company. TD Cowen started coverage on shares of Maplight Therapeutics in a research note on Tuesday, April 7th. They issued a "buy" rating for the company. Wall Street Zen lowered shares of Maplight Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, March 21st. Finally, Needham & Company LLC began coverage on shares of Maplight Therapeutics in a research report on Wednesday, April 8th. They set a "buy" rating and a $37.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $32.67.

Maplight Therapeutics Stock Performance

Shares of NASDAQ MPLT opened at $30.05 on Monday. The company's 50-day moving average is $19.94. The stock has a market cap of $1.28 billion and a P/E ratio of -0.76. Maplight Therapeutics has a 52-week low of $12.24 and a 52-week high of $31.13.

Maplight Therapeutics (NASDAQ:MPLT - Get Free Report) last announced its quarterly earnings results on Thursday, March 26th. The company reported ($2.47) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.05) by ($1.42).

Insider Transactions at Maplight Therapeutics

In other Maplight Therapeutics news, Director George Pavlov acquired 10,658 shares of the stock in a transaction dated Wednesday, February 18th. The shares were purchased at an average price of $17.48 per share, for a total transaction of $186,301.84. Following the purchase, the director directly owned 10,658 shares of the company's stock, valued at approximately $186,301.84. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert C. Malenka sold 21,262 shares of the stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $18.55, for a total transaction of $394,410.10. Following the completion of the transaction, the director owned 371,885 shares in the company, valued at $6,898,466.75. This trade represents a 5.41% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have acquired 39,124 shares of company stock worth $693,846 and have sold 74,612 shares worth $1,368,065.

Hedge Funds Weigh In On Maplight Therapeutics

Institutional investors have recently made changes to their positions in the business. Walleye Capital LLC bought a new position in shares of Maplight Therapeutics in the 4th quarter worth approximately $205,000. MetLife Investment Management LLC bought a new stake in Maplight Therapeutics during the 4th quarter worth approximately $172,000. New York State Common Retirement Fund bought a new stake in Maplight Therapeutics during the 4th quarter worth approximately $93,000. Police & Firemen s Retirement System of New Jersey bought a new stake in Maplight Therapeutics during the 4th quarter worth approximately $70,000. Finally, 5AM Venture Management LLC bought a new stake in 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.

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