Maplight Therapeutics (NASDAQ:MPLT) Shares Up 5.6% – Time to Buy?

Maplight Therapeutics, Inc. (NASDAQ:MPLT)’s share price rose 5.6% during mid-day trading on Thursday . The stock traded as high as $19.19 and last traded at $19.1550. Approximately 30,911 shares were traded during trading, a decline of 84% from the average daily volume of 189,700 shares. The stock had previously closed at $18.14.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Wall Street Zen downgraded shares of Maplight Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Weiss Ratings assumed coverage on shares of Maplight Therapeutics in a research report on Thursday, January 22nd. They set a “sell (e)” rating for the company. Finally, Canaccord Genuity Group assumed coverage on shares of Maplight Therapeutics in a report on Thursday, March 19th. They set a “buy” rating and a $35.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Maplight Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $31.80.

Maplight Therapeutics Price Performance

The stock has a 50-day moving average of $17.86. The firm has a market cap of $841.61 million and a price-to-earnings ratio of -0.50.

Maplight Therapeutics (NASDAQ:MPLT) last issued its quarterly earnings data on Thursday, March 26th. The company reported ($2.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.05) by ($1.42).

Insider Activity at Maplight Therapeutics

In related news, Director George Pavlov purchased 10,658 shares of Maplight Therapeutics stock in a transaction that occurred on Wednesday, February 18th. The shares were acquired at an average price of $17.48 per share, for a total transaction of $186,301.84. Following the transaction, the director directly owned 10,658 shares in the company, valued at approximately $186,301.84. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Timothy John Garnett acquired 14,124 shares of the firm’s stock in a transaction on Tuesday, February 10th. The shares were bought at an average cost of $17.89 per share, for a total transaction of $252,678.36. Following the acquisition, the director owned 14,124 shares in the company, valued at approximately $252,678.36. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders acquired 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

Several hedge funds have recently modified their holdings of MPLT. Fcpm Iii Services B.V. bought a new position in Maplight Therapeutics in the 4th quarter worth approximately $56,672,000. T. Rowe Price Investment Management Inc. bought a new position in Maplight Therapeutics in the 4th quarter valued at $49,168,000. Goldman Sachs Group Inc. bought a new position in Maplight Therapeutics in the 4th quarter valued at $34,026,000. Nan Fung Group Holdings Ltd acquired a new stake in shares of Maplight Therapeutics in the 4th quarter valued at $17,060,000. Finally, 5AM Venture Management LLC acquired a new stake in shares of Maplight Therapeutics in the 4th quarter valued at $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.