Maplight Therapeutics (NASDAQ:MPLT) Trading Down 4.6% - What's Next?

Key Points

• Maplight Therapeutics shares fell 4.6% to about $11.96 in mid-day trading, with volume down 93% from the average. The stock remains well below its 50-day and 200-day moving averages, both near $24–$25.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $29.67. Recent targets range from $36 to $46, although Weiss Ratings maintained a sell rating.
• The clinical-stage CNS biopharmaceutical company reported quarterly EPS of -$1.32, beating the consensus estimate of -$1.40; analysts expect a full-year loss of approximately $5.12 per share. Insider activity was mixed, with a director buying shares while another insider sold under a pre-arranged trading plan.

Shares of Maplight Therapeutics, Inc. (NASDAQ:MPLT - Get Free Report) fell 4.6% during mid-day trading on Wednesday . The company traded as low as $11.71 and last traded at $11.9640. 30,633 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 460,162 shares. The stock had previously closed at $12.54.

Wall Street Analyst Weigh In

MPLT has been the topic of several research analyst reports. Stifel Nicolaus boosted their price target on shares of Maplight Therapeutics from $28.00 to $36.00 and gave the company a "buy" rating in a report on Monday, June 1st. BMO Capital Markets began coverage on Maplight Therapeutics in a report on Monday, July 20th. They set an "outperform" rating and a $46.00 price objective for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Maplight Therapeutics in a research report on Monday, July 13th. Lifesci Capital upgraded Maplight Therapeutics to a "strong-buy" rating in a research note on Thursday, May 14th. Finally, Needham & Company LLC upped their target price on Maplight Therapeutics from $42.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. Four equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Maplight Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $29.67.

Maplight Therapeutics Price Performance

The stock has a market capitalization of $547.72 million and a price-to-earnings ratio of -0.28. The stock's 50 day simple moving average is $24.95 and its 200-day simple moving average is $24.22.

Maplight Therapeutics (NASDAQ:MPLT - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($1.32) EPS for the quarter, topping the consensus estimate of ($1.40) by $0.08. As a group, equities research analysts anticipate that Maplight Therapeutics, Inc. will post -5.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Maplight Therapeutics

In other Maplight Therapeutics news, Director Troy Cox bought 15,620 shares of the stock in a transaction on Tuesday, July 28th. The shares were purchased at an average cost of $9.52 per share, with a total value of $148,702.40. Following the completion of the transaction, the director directly owned 15,620 shares of the company's stock, valued at $148,702.40. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider James Woodruff Lillie sold 22,082 shares of the firm's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $12.54, for a total value of $276,908.28. Following the transaction, the insider owned 202,380 shares in the company, valued at approximately $2,537,845.20. This trade represents a 9.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 3.80% of the company's stock.

Institutional Investors Weigh In On Maplight Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in MPLT. Nan Fung Group Holdings Ltd acquired a new position in Maplight Therapeutics in the 2nd quarter valued at $34,809,708,000. ADAR1 Capital Management LLC bought a new position in Maplight Therapeutics in the 1st quarter worth $7,622,000. Blue Owl Capital Holdings LP acquired a new position in Maplight Therapeutics during the 2nd quarter worth $26,161,000. Sanofi acquired a new position in Maplight Therapeutics during the 4th quarter worth $16,020,000. Finally, 5AM Venture Management LLC bought a new stake in Maplight Therapeutics during the second quarter valued at about $34,048,394,000.

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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