Maplight Therapeutics (NASDAQ:MPLT) Sets New 12-Month Low - Time to Sell?

Key Points

• Maplight Therapeutics fell 66.5%, reaching a new 52-week low of $11.27 before last trading at $12.97, down sharply from its prior close of $36.56.
• Despite the selloff, analysts remain broadly positive, with an average rating of “Buy” and an average price target of $40.82; however, the company missed quarterly EPS estimates and is expected to report a full-year loss.
• Insiders sold roughly 397,922 shares worth $11.2 million over the past 90 days under pre-arranged trading plans, while several institutional investors—including Goldman Sachs—established new positions.

Maplight Therapeutics, Inc. (NASDAQ:MPLT - Get Free Report) hit a new 52-week low during trading on Monday . The stock traded as low as $11.27 and last traded at $12.97, with a volume of 1785298 shares. The stock had previously closed at $36.56.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MPLT. Benchmark restated a "buy" rating on shares of Maplight Therapeutics in a research note on Monday, June 22nd. Lifesci Capital raised shares of Maplight Therapeutics to a "strong-buy" rating in a research report on Thursday, May 14th. BMO Capital Markets assumed coverage on shares of Maplight Therapeutics in a report on Monday, July 20th. They issued an "outperform" rating and a $46.00 price objective on the stock. Jefferies Financial Group reissued a "buy" rating on shares of Maplight Therapeutics in a research report on Monday. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Maplight Therapeutics in a research note on Monday, July 13th. Five equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Maplight Therapeutics currently has an average rating of "Buy" and an average target price of $40.82.

Maplight Therapeutics Stock Down 66.5%

The firm has a market capitalization of $522.03 million and a P/E ratio of -0.30. The firm has a 50 day moving average of $32.17 and a 200-day moving average of $25.08.

Maplight Therapeutics (NASDAQ:MPLT - Get Free Report) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($1.34) EPS for the quarter, missing analysts' consensus estimates of ($0.91) by ($0.43). As a group, research analysts expect that Maplight Therapeutics, Inc. will post -5.13 EPS for the current year.

Insiders Place Their Bets

In other news, insider Erin Pennock Foff sold 4,438 shares of Maplight Therapeutics stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $28.54, for a total value of $126,660.52. Following the transaction, the insider owned 346,059 shares in the company, valued at approximately $9,876,523.86. This trade represents a 1.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James Woodruff Lillie sold 24,811 shares of the company's stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $28.76, for a total value of $713,564.36. Following the sale, the insider owned 243,450 shares of the company's stock, valued at approximately $7,001,622. This represents a 9.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 397,922 shares of company stock valued at $11,188,738 over the last ninety days. Company insiders own 3.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Strs Ohio acquired a new stake in shares of Maplight Therapeutics in the 4th quarter valued at approximately $53,000. Blue Owl Capital Holdings LP acquired a new position in Maplight Therapeutics during the 4th quarter worth approximately $5,745,000. Geode Capital Management LLC bought a new position in Maplight Therapeutics in the 4th quarter valued at approximately $6,835,000. Seven Grand Managers LLC bought a new position in Maplight Therapeutics in the 4th quarter valued at approximately $1,756,000. Finally, Goldman Sachs Group Inc. acquired a new stake in Maplight Therapeutics in the fourth quarter valued at approximately $34,026,000.

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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