Maplight Therapeutics (NASDAQ:MPLT) Reaches New 52-Week High - Here's Why

Key Points

• 52-week high: Maplight Therapeutics shares reached a new 52-week high of $21.76 (last $21.176), giving the company a market capitalization of about $889.5 million.
• Analyst sentiment: The stock carries a consensus rating of "Moderate Buy" with a consensus price target of $31.80, following mixed research (including a $35 buy from Canaccord and sell/ downgrade calls from other firms).
• Fundamentals and ownership activity: The company missed quarterly EPS expectations (reported -$2.47 vs. -$1.05 est.), while insiders both bought and sold shares recently and large institutions (e.g., T. Rowe Price, Goldman Sachs, Fcpm III) established sizeable new positions.

Maplight Therapeutics, Inc. (NASDAQ:MPLT - Get Free Report)'s stock price reached a new 52-week high on Thursday . The stock traded as high as $21.76 and last traded at $21.1760, with a volume of 28018 shares changing hands. The stock had previously closed at $20.83.

Analysts Set New Price Targets

MPLT has been the subject of several research reports. Canaccord Genuity Group started coverage on shares of Maplight Therapeutics in a report on Thursday, March 19th. They issued a "buy" rating and a $35.00 price objective for the company. Weiss Ratings initiated coverage on shares of Maplight Therapeutics in a research report on Thursday, January 22nd. They set a "sell (e)" rating on the stock. Finally, Wall Street Zen downgraded shares of Maplight Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, March 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.80.

Maplight Therapeutics Stock Up 0.6%

The business has a 50 day simple moving average of $18.04. The stock has a market capitalization of $889.54 million and a P/E ratio of -0.53.

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

Insiders Place Their Bets

In other Maplight Therapeutics news, Director George Pavlov bought 9,920 shares of the firm's stock in a transaction on Friday, February 20th. The stock was acquired at an average price of $17.86 per share, with a total value of $177,171.20. Following the completion of the purchase, the director owned 25,000 shares of the company's stock, valued at approximately $446,500. This trade represents a 65.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert C. Malenka sold 11,264 shares of the business's stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $18.42, for a total value of $207,482.88. Following the completion of the sale, the director directly owned 325,795 shares in the company, valued at approximately $6,001,143.90. This represents a 3.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over 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

Several institutional investors and hedge funds have recently modified their holdings of MPLT. Fcpm Iii Services B.V. bought a new position in Maplight Therapeutics in the 4th quarter worth about $56,672,000. T. Rowe Price Investment Management Inc. purchased a new stake in Maplight Therapeutics during the 4th quarter valued at about $49,154,000. Goldman Sachs Group Inc. bought a new stake in Maplight Therapeutics during the 4th quarter valued at about $34,026,000. Nan Fung Group Holdings Ltd purchased a new position in Maplight Therapeutics in the fourth quarter worth about $17,060,000. Finally, 5AM Venture Management LLC purchased a new position in Maplight Therapeutics in the fourth quarter worth about $16,687,000.

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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