Maplight Therapeutics (NASDAQ:MPLT) Trading Down 4.6% – What’s Next?

Maplight Therapeutics, Inc. (NASDAQ:MPLT)’s stock price dropped 4.6% on Wednesday . The stock traded as low as $11.71 and last traded at $11.9640. 30,633 shares were traded during trading, a decline of 93% from the average daily volume of 460,162 shares. The stock had previously closed at $12.54.

Analysts Set New Price Targets

MPLT has been the topic of a number of research analyst reports. Lifesci Capital raised Maplight Therapeutics to a “strong-buy” rating in a report on Thursday, May 14th. UBS Group cut Maplight Therapeutics from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $52.00 to $13.00 in a research report on Monday, August 10th. Stifel Nicolaus raised their price objective on shares of Maplight Therapeutics from $28.00 to $36.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Wolfe Research reaffirmed an “outperform” rating and set a $30.00 target price on shares of Maplight Therapeutics in a research report on Monday, July 27th. Finally, HC Wainwright cut their target price on shares of Maplight Therapeutics from $45.00 to $26.00 and set a “buy” rating for the company in a research note on Tuesday, July 28th. Four equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.67.

Maplight Therapeutics Price Performance

The firm has a market cap of $547.72 million and a P/E ratio of -0.28. The company’s 50 day moving average is $24.95 and its two-hundred day moving average is $24.22.

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. Research analysts predict that Maplight Therapeutics, Inc. will post -5.12 EPS for the current year.

Insider Activity at Maplight Therapeutics

In other news, Director Troy Cox bought 15,620 shares of Maplight Therapeutics stock in a transaction that occurred on Tuesday, July 28th. The stock was purchased at an average cost of $9.52 per share, with a total value of $148,702.40. Following the completion of the transaction, the director directly owned 15,620 shares in the company, valued at $148,702.40. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James Woodruff Lillie sold 22,082 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $12.54, for a total transaction of $276,908.28. Following the completion of the sale, the insider directly owned 202,380 shares in the company, valued at $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 currently owned by company insiders.

Institutional Trading of Maplight Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fcpm Iii Services B.V. acquired a new position in Maplight Therapeutics in the fourth quarter worth about $56,672,000. T. Rowe Price Investment Management Inc. acquired a new stake in Maplight Therapeutics during the fourth quarter valued at approximately $49,154,000. Goldman Sachs Group Inc. acquired a new stake in Maplight Therapeutics during the fourth quarter valued at approximately $34,026,000. BlackRock Inc. bought a new stake in shares of Maplight Therapeutics in the 2nd quarter valued at approximately $36,741,000. Finally, Nan Fung Group Holdings Ltd bought a new stake in shares of Maplight Therapeutics in the 4th quarter valued at approximately $17,060,000.

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.