Maplight Therapeutics (NASDAQ:MPLT) Trading 8.9% Higher – Should You Buy?

Shares of Maplight Therapeutics, Inc. (NASDAQ:MPLT) shot up 8.9% during trading on Monday . The company traded as high as $21.51 and last traded at $20.7650. 79,093 shares were traded during mid-day trading, a decline of 54% from the average session volume of 170,182 shares. The stock had previously closed at $19.07.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MPLT shares. Jefferies Financial Group initiated coverage on Maplight Therapeutics in a report on Friday, November 21st. They set a “buy” rating and a $32.00 target price for the company. Wall Street Zen upgraded shares of Maplight Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, December 20th. Zacks Research raised shares of Maplight Therapeutics to a “hold” rating in a research report on Monday, November 24th. Morgan Stanley started coverage on shares of Maplight Therapeutics in a research report on Friday, November 21st. They issued an “overweight” rating and a $34.00 price objective on the stock. Finally, Weiss Ratings started coverage on Maplight Therapeutics in a report on Thursday, January 22nd. They set a “sell (e)” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $31.00.

Maplight Therapeutics Trading Down 0.4%

The stock has a market capitalization of $861.58 million and a PE ratio of -0.51. The firm’s fifty day moving average price is $17.81.

Insider Buying and Selling at Maplight Therapeutics

In other news, Director Timothy John Garnett purchased 14,124 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was acquired at an average price of $17.89 per share, with a total value of $252,678.36. Following the purchase, the director directly owned 14,124 shares in the company, valued at approximately $252,678.36. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director George Pavlov purchased 10,658 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were purchased at an average price of $17.48 per share, with a total value of $186,301.84. Following the acquisition, the director directly owned 10,658 shares in the company, valued at approximately $186,301.84. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have bought 39,124 shares of company stock worth $693,846 and have sold 74,612 shares worth $1,368,065.

Institutional Investors Weigh In On Maplight Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Strs Ohio purchased a new stake in Maplight Therapeutics in the fourth quarter valued at $53,000. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Maplight Therapeutics during the 4th quarter worth $70,000. New York State Common Retirement Fund acquired a new stake in shares of Maplight Therapeutics during the 4th quarter worth about $93,000. MetLife Investment Management LLC purchased a new stake in Maplight Therapeutics in the 4th quarter valued at about $172,000. Finally, Walleye Capital LLC purchased a new stake in Maplight Therapeutics in the 4th quarter valued at about $205,000.

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.