Maplight Therapeutics (NASDAQ:MPLT) Shares Gap Down - Here's Why

Key Points

• Shares gapped down: MPLT opened at $28.34 after closing at $30.05 and last traded around $27.655 with about 13,722 shares changing hands.
• Quarterly EPS miss: the company reported ($2.47) EPS vs. ($1.05) expected, yet analysts maintain a consensus “Moderate Buy” rating with an average price target of $32.67.
• Insider and institutional activity is notable: directors bought shares recently at roughly $17.48–$17.89, but insiders net sold more over the last 90 days (39,124 bought vs. 74,612 sold), while institutions such as T. Rowe Price built a roughly $49M stake.

Maplight Therapeutics, Inc. (NASDAQ:MPLT - Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $30.05, but opened at $28.34. Maplight Therapeutics shares last traded at $27.6550, with a volume of 13,722 shares trading hands.

Wall Street Analysts Forecast Growth

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

Maplight Therapeutics Price Performance

The firm's fifty day moving average price is $20.15. The firm has a market capitalization of $1.18 billion and a price-to-earnings ratio of -0.70.

Maplight Therapeutics (NASDAQ:MPLT - Get Free Report) last posted its quarterly earnings results on Thursday, March 26th. The company reported ($2.47) EPS for the quarter, missing the consensus estimate of ($1.05) by ($1.42). Equities analysts forecast that Maplight Therapeutics, Inc. will post -3.87 earnings per share for the current year.

Insider Buying and Selling at Maplight Therapeutics

In other news, Director George Pavlov bought 10,658 shares of Maplight Therapeutics stock in a transaction on Wednesday, February 18th. The stock was purchased at an average cost of $17.48 per share, with a total value 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Timothy John Garnett bought 14,124 shares of Maplight Therapeutics stock in a transaction on Tuesday, February 10th. The shares were purchased at an average cost of $17.89 per share, with a total value of $252,678.36. Following the completion of the purchase, the director directly owned 14,124 shares in the company, valued at $252,678.36. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders bought 39,124 shares of company stock valued at $693,846 and sold 74,612 shares valued at $1,368,065.

Institutional Trading of Maplight Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Maplight Therapeutics in the 4th quarter worth approximately $49,168,000. Invesco Ltd. acquired a new stake in shares of Maplight Therapeutics in the 4th quarter worth approximately $228,000. Vestal Point Capital LP bought a new stake in shares of Maplight Therapeutics in the 4th quarter worth approximately $6,763,000. Tudor Investment Corp ET AL bought a new stake in shares of Maplight Therapeutics in the 4th quarter worth approximately $840,000. Finally, Orbimed Advisors LLC bought a new stake in shares of Maplight Therapeutics in the 4th quarter worth approximately $952,000.

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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