Maplight Therapeutics (NASDAQ:MPLT) Insider Sells $437,629.92 in Stock

Maplight Therapeutics, Inc. (NASDAQ:MPLT) insider Erin Pennock Foff sold 15,652 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $27.96, for a total transaction of $437,629.92. Following the completion of the sale, the insider directly owned 385,125 shares in the company, valued at approximately $10,768,095. This represents a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Erin Pennock Foff also recently made the following trade(s):

• On Wednesday, May 6th, Erin Pennock Foff sold 24,052 shares of Maplight Therapeutics stock. The shares were sold at an average price of $28.76, for a total transaction of $691,735.52.
• On Tuesday, May 5th, Erin Pennock Foff sold 10,576 shares of Maplight Therapeutics stock. The shares were sold at an average price of $28.20, for a total transaction of $298,243.20.

Maplight Therapeutics Stock Performance

NASDAQ:MPLT opened at $27.40 on Friday. The company has a fifty day moving average price of $22.83. Maplight Therapeutics, Inc. has a 52 week low of $12.24 and a 52 week high of $33.28. The company has a market cap of $1.17 billion and a price-to-earnings ratio of -0.69.

Maplight Therapeutics (NASDAQ:MPLT) last posted its quarterly earnings data on Thursday, March 26th. The company reported ($2.47) EPS for the quarter, missing analysts’ consensus estimates of ($1.05) by ($1.42). As a group, equities analysts expect that Maplight Therapeutics, Inc. will post -3.96 EPS for the current year.

Key Maplight Therapeutics News

Here are the key news stories impacting Maplight Therapeutics this week:

• Positive Sentiment: MapLight Therapeutics announced that management will participate in upcoming investor conferences, which can help keep the company visible to potential investors and may provide a near-term catalyst. MapLight Therapeutics to Participate in Upcoming Investor Conferences
• Positive Sentiment: Needham reiterated a Buy rating on MPLT, reinforcing Wall Street support for the stock and helping offset some of the recent negative sentiment. Needham Reaffirms Buy Rating
• Positive Sentiment: Recent analyst coverage elsewhere in the tape remained constructive, including Buy ratings and higher price targets, which supports the longer-term bullish case for MapLight Therapeutics. Analyst coverage summary
• Neutral Sentiment: The company’s recent earnings history remains mixed, with a prior quarterly loss wider than expected; this is still part of the backdrop but not the main driver of today’s move. MPLT earnings summary
• Negative Sentiment: Multiple insiders, including CEO Christopher Kroeger, CFO Vishwas Setia, and insiders James Woodruff Lillie and Erin Pennock Foff, sold shares over May 4–6. Although the sales were made under pre-arranged Rule 10b5-1 plans, the cluster of transactions can weigh on sentiment and suggest near-term selling pressure. CEO Form 4 filing
• Negative Sentiment: The repeated insider sales may be contributing to the stock’s decline today, as investors often view sustained insider selling as a cautionary signal even when it is pre-planned. Insider sale filing

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Strs Ohio acquired a new position in Maplight Therapeutics during the fourth quarter worth $53,000. Bank of New York Mellon Corp raised its holdings in Maplight Therapeutics by 10.1% during the first quarter. Bank of New York Mellon Corp now owns 39,465 shares of the company’s stock worth $802,000 after buying an additional 3,608 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new position in Maplight Therapeutics during the fourth quarter worth $70,000. New York State Common Retirement Fund acquired a new position in Maplight Therapeutics during the fourth quarter worth $93,000. Finally, MetLife Investment Management LLC acquired a new position in Maplight Therapeutics during the fourth quarter worth $172,000.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MPLT. Needham & Company LLC began coverage on shares of Maplight Therapeutics in a research note on Wednesday, April 8th. They set a “buy” rating and a $37.00 target price on the stock. Wall Street Zen lowered shares of Maplight Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. TD Cowen began coverage on shares of Maplight Therapeutics in a research note on Tuesday, April 7th. They set a “buy” rating on the stock. HC Wainwright began coverage on shares of Maplight Therapeutics in a research note on Monday. They set a “buy” rating and a $45.00 target price on the stock. Finally, Canaccord Genuity Group began coverage on shares of Maplight Therapeutics in a research note on Thursday, March 19th. They set a “buy” rating and a $35.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.43.

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.