Maplight Therapeutics (NASDAQ:MPLT) Insider Sells 22,082 Shares of Stock

Key Points

• Insider sale: James Woodruff Lillie sold 22,082 Maplight Therapeutics shares for approximately $276,908 at an average price of $12.54, reducing his direct ownership by 9.84%. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan.
• Stock and earnings: MPLT rose 3.1% to $12.94 in mid-day trading, but remains well below its 52-week high of $40.43. The company reported a quarterly loss of $1.34 per share, missing the $0.91 consensus estimate.
• Analyst outlook: Despite the earnings miss, analysts maintain a consensus “Buy” rating with an average price target of $34.42; several firms have issued Buy or Strong Buy ratings, while one firm rated the stock “Strong Sell.”

Maplight Therapeutics, Inc. (NASDAQ:MPLT - Get Free Report) insider James Woodruff Lillie sold 22,082 shares of the company's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $12.54, for a total value of $276,908.28. Following the completion of the transaction, the insider directly owned 202,380 shares in the company, valued at approximately $2,537,845.20. The trade was a 9.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, May 7th, James Woodruff Lillie sold 721 shares of Maplight Therapeutics stock. The shares were sold at an average price of $28.28, for a total value of $20,389.88.
• On Wednesday, May 6th, James Woodruff Lillie sold 24,811 shares of Maplight Therapeutics stock. The shares were sold at an average price of $28.76, for a total value of $713,564.36.

Maplight Therapeutics Trading Up 3.1%

NASDAQ:MPLT traded up $0.39 during mid-day trading on Tuesday, reaching $12.94. The stock had a trading volume of 847,553 shares, compared to its average volume of 1,525,280. The business's 50 day moving average is $30.01 and its 200 day moving average is $24.84. Maplight Therapeutics, Inc. has a fifty-two week low of $9.10 and a fifty-two week high of $40.43.

Maplight Therapeutics (NASDAQ:MPLT - Get Free Report) last posted its earnings results on Thursday, May 14th. The company reported ($1.34) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.91) by ($0.43). On average, research analysts forecast that Maplight Therapeutics, Inc. will post -5.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Maplight Therapeutics

A number of hedge funds have recently bought and sold shares of the company. ADAR1 Capital Management LLC acquired a new position in Maplight Therapeutics in the 1st quarter valued at approximately $7,622,000. Sanofi acquired a new stake in shares of Maplight Therapeutics during the 4th quarter worth approximately $16,020,000. 5AM Venture Management LLC bought a new stake in shares of Maplight Therapeutics during the fourth quarter valued at approximately $16,687,000. Nan Fung Group Holdings Ltd acquired a new position in shares of Maplight Therapeutics in the fourth quarter valued at $17,060,000. Finally, Fcpm Iii Services B.V. bought a new position in Maplight Therapeutics in the fourth quarter worth $56,672,000.

Analyst Ratings Changes

Several research firms have commented on MPLT. Raymond James Financial assumed coverage on shares of Maplight Therapeutics in a research report on Wednesday, June 24th. They set a "strong-buy" rating and a $46.00 target price on the stock. Stifel Nicolaus upped their price target on Maplight Therapeutics from $28.00 to $36.00 and gave the stock a "buy" rating in a research note on Monday, June 1st. Wolfe Research reissued an "outperform" rating and set a $30.00 price objective on shares of Maplight Therapeutics in a report on Monday, July 27th. TD Cowen began coverage on Maplight Therapeutics in a report on Tuesday, April 7th. They issued a "buy" rating for the company. Finally, Wall Street Zen cut Maplight Therapeutics from a "sell" rating to a "strong sell" rating in a research report on Saturday. Four analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $34.42.

About Maplight Therapeutics

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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