Maplight Therapeutics (NASDAQ:MPLT) CFO Jonathan Gillis Sells 10,167 Shares of Stock

Maplight Therapeutics, Inc. (NASDAQ:MPLT) CFO Jonathan Gillis sold 10,167 shares of the business’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $8.08, for a total transaction of $82,149.36. Following the completion of the sale, the chief financial officer owned 142,315 shares in the company, valued at $1,149,905.20. This represents a 6.67% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Maplight Therapeutics Price Performance

Shares of MPLT traded down $0.32 during trading hours on Friday, hitting $7.70. The stock had a trading volume of 359,069 shares, compared to its average volume of 472,697. The stock has a market capitalization of $427.94 million and a price-to-earnings ratio of -0.18. The company’s fifty day moving average is $11.33 and its two-hundred day moving average is $22.47. Maplight Therapeutics, Inc. has a 52 week low of $7.46 and a 52 week high of $40.43.

Maplight Therapeutics (NASDAQ:MPLT) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($1.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.40) by $0.08. Equities analysts predict that Maplight Therapeutics, Inc. will post -5.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Maplight Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc bought a new stake in Maplight Therapeutics during the 2nd quarter worth about $37,000. Bank of New York Mellon Corp raised 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 acquiring an additional 3,608 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Maplight Therapeutics by 12.4% in the second quarter. Wellington Management Group LLP now owns 51,917 shares of the company’s stock worth $1,861,000 after acquiring an additional 5,709 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Maplight Therapeutics in the second quarter worth about $252,000. Finally, Deutsche Bank AG acquired a new position in shares of Maplight Therapeutics during the second quarter worth approximately $370,000.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Morgan Stanley reaffirmed an “equal weight” rating and set a $21.00 price objective (down from $34.00) on shares of Maplight Therapeutics in a report on Tuesday, July 28th. Jefferies Financial Group reissued a “buy” rating on shares of Maplight Therapeutics in a report on Monday, July 27th. Benchmark reissued a “buy” rating on shares of Maplight Therapeutics in a report on Monday, June 22nd. BMO Capital Markets began coverage on Maplight Therapeutics in a research report on Monday, July 20th. They set an “outperform” rating and a $46.00 price target on the stock. Finally, HC Wainwright decreased their price target on Maplight Therapeutics from $45.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, July 28th. Four equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

Maplight Therapeutics Company Profile

MapLight Therapeutics is a clinical-stage biopharmaceutical company developing medicines for neuropsychiatric and neurological disorders. The company focuses on conditions for which existing treatments may provide limited benefits or cause significant side effects.

MapLight uses a neuroscience-focused drug discovery and development approach to identify therapies intended to address the underlying biology of central nervous system disorders. Its pipeline includes investigational small-molecule treatments being studied for conditions such as schizophrenia and other serious mental health disorders.

The company conducts research and clinical development in the United States.