Maplight Therapeutics (NASDAQ:MPLT) Stock Price Down 7% – Here’s What Happened

Maplight Therapeutics, Inc. (NASDAQ:MPLT)’s share price dropped 7% on Thursday . The stock traded as low as $11.40 and last traded at $11.30. Approximately 92,493 shares changed hands during trading, a decline of 80% from the average daily volume of 457,838 shares. The stock had previously closed at $12.15.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MPLT shares. Canaccord Genuity Group set a $21.00 price target on Maplight Therapeutics in a research note on Friday, August 14th. Stifel Nicolaus lifted their price objective on shares of Maplight Therapeutics from $28.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, June 1st. Wolfe Research reaffirmed an “outperform” rating and issued a $30.00 price objective on shares of Maplight Therapeutics in a report on Monday, July 27th. Raymond James Financial set a $31.00 target price on shares of Maplight Therapeutics in a research report on Friday, August 14th. Finally, Lifesci Capital raised shares of Maplight Therapeutics to a “strong-buy” rating in a research note on Thursday, May 14th. Four investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Maplight Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $29.67.

Maplight Therapeutics Stock Down 0.2%

The business has a 50-day simple moving average of $25.57 and a two-hundred day simple moving average of $24.24. The stock has a market capitalization of $519.92 million and a price-to-earnings ratio of -0.26.

Maplight Therapeutics (NASDAQ:MPLT) last issued 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. On average, analysts forecast that Maplight Therapeutics, Inc. will post -5.12 EPS for the current year.

Insider Transactions at Maplight Therapeutics

In other Maplight Therapeutics news, Director Troy Cox purchased 15,620 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was bought at an average cost of $9.52 per share, with a total value of $148,702.40. Following the acquisition, the director owned 15,620 shares of the company’s stock, valued at $148,702.40. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available 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 transaction of $276,908.28. Following the transaction, the insider owned 202,380 shares of the company’s stock, valued at approximately $2,537,845.20. This trade represents a 9.84% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.80% of the stock is owned by insiders.

Institutional Trading of Maplight Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc bought a new stake in Maplight Therapeutics during the second quarter worth approximately $37,000. Strs Ohio bought a new position in shares of Maplight Therapeutics in the fourth quarter valued at $53,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Maplight Therapeutics during the 4th quarter valued at $70,000. New York State Common Retirement Fund acquired a new stake in shares of Maplight Therapeutics during the 4th quarter valued at $93,000. Finally, MetLife Investment Management LLC bought a new stake in shares of Maplight Therapeutics during the 4th quarter worth $172,000.

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.