Maplight Therapeutics (NASDAQ:MPLT) Insider Erin Pennock Foff Sells 4,438 Shares of Stock

Maplight Therapeutics, Inc. (NASDAQ:MPLT) insider Erin Pennock Foff sold 4,438 shares of the stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $28.54, for a total transaction of $126,660.52. Following the completion of the transaction, the insider directly owned 346,059 shares of the company’s stock, valued at approximately $9,876,523.86. The trade was a 1.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 stock was sold at an average price of $28.76, for a total value of $691,735.52.
• On Tuesday, May 5th, Erin Pennock Foff sold 10,576 shares of Maplight Therapeutics stock. The stock was sold at an average price of $28.20, for a total value of $298,243.20.
• On Monday, May 4th, Erin Pennock Foff sold 15,652 shares of Maplight Therapeutics stock. The shares were sold at an average price of $27.96, for a total transaction of $437,629.92.

Maplight Therapeutics Stock Up 9.8%

NASDAQ MPLT opened at $30.09 on Tuesday. Maplight Therapeutics, Inc. has a twelve month low of $12.24 and a twelve month high of $33.28. The firm has a market capitalization of $1.28 billion and a P/E ratio of -0.76. The firm has a fifty day moving average of $23.27.

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). Sell-side analysts anticipate that Maplight Therapeutics, Inc. will post -3.96 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. TD Cowen initiated coverage on shares of Maplight Therapeutics in a research note on Tuesday, April 7th. They set a “buy” rating on the stock. Needham & Company LLC initiated coverage on Maplight Therapeutics in a research report on Wednesday, April 8th. They issued a “buy” rating and a $37.00 price target for the company. Weiss Ratings assumed coverage on Maplight Therapeutics in a research note on Thursday, January 22nd. They issued a “sell (e)” rating on the stock. Wall Street Zen downgraded shares of Maplight Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Finally, HC Wainwright assumed coverage on Maplight Therapeutics in a report on Monday, May 4th. They set a “buy” rating and a $45.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.43.

Institutional Trading of Maplight Therapeutics

A number of large investors have recently modified their holdings of the business. MetLife Investment Management LLC purchased a new position in Maplight Therapeutics in the 4th quarter worth approximately $172,000. New York State Common Retirement Fund bought a new position in shares of Maplight Therapeutics during the fourth quarter valued at about $93,000. Police & Firemen s Retirement System of New Jersey purchased a new position in Maplight Therapeutics in the 4th quarter worth approximately $70,000. Bank of New York Mellon Corp increased its stake in shares of Maplight Therapeutics by 10.1% in 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 period. Finally, 5AM Venture Management LLC bought a new position in shares of Maplight Therapeutics during the fourth quarter valued at 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.