Key Points
- Insider purchase: Director Timothy John Garnett bought 14,124 shares on Feb. 10 at an average price of $17.89 per share, spending about $252,678 and now owning those 14,124 shares (SEC filing).
- Financials and stock action: Shares opened at $17.22 and were down ~3.1%; the company reported a steep quarterly loss of ($37.18) EPS vs. a ($1.86) consensus, carries a negative P/E and a market cap of roughly $781 million.
- Analyst outlook: Several firms recently initiated coverage with mostly Buy/Overweight ratings and a consensus price target of $31, giving Maplight a "Moderate Buy" average despite mixed individual ratings.
Maplight Therapeutics, Inc. (NASDAQ:MPLT - Get Free Report) Director Robert Malenka sold 6,622 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $18.12, for a total transaction of $119,990.64. Following the completion of the sale, the director owned 351,611 shares of the company's stock, valued at approximately $6,371,191.32. This represents a 1.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Maplight Therapeutics Trading Down 3.1%
Shares of MPLT opened at $17.22 on Friday. The company has a market cap of $781.27 million and a P/E ratio of -0.46. The company has a 50-day moving average price of $18.17. Maplight Therapeutics, Inc. has a one year low of $12.24 and a one year high of $21.55.
Maplight Therapeutics (NASDAQ:MPLT - Get Free Report) last issued its earnings results on Thursday, December 4th. The company reported ($37.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.86) by ($35.32).
Hedge Funds Weigh In On Maplight Therapeutics
Institutional investors and hedge funds have recently modified their holdings of the business. Strs Ohio bought a new position in Maplight Therapeutics during the fourth quarter worth about $53,000. New York State Common Retirement Fund bought a new position in shares of Maplight Therapeutics during the fourth quarter worth approximately $93,000. MetLife Investment Management LLC acquired a new stake in shares of Maplight Therapeutics in the fourth quarter valued at approximately $172,000. Deutsche Bank AG bought a new stake in shares of Maplight Therapeutics in the fourth quarter valued at approximately $210,000. Finally, Nuveen LLC acquired a new stake in Maplight Therapeutics during the fourth quarter worth approximately $355,000.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on MPLT shares. Wall Street Zen raised 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. Stifel Nicolaus began coverage on shares of Maplight Therapeutics in a research report on Friday, November 21st. They issued a "buy" rating and a $28.00 price objective on the stock. Jefferies Financial Group began coverage on shares of Maplight Therapeutics in a research note on Friday, November 21st. They set a "buy" rating and a $32.00 target price for the company. Finally, Weiss Ratings initiated coverage on shares of Maplight Therapeutics in a report on Thursday, January 22nd. They set a "sell (e)" rating for the company. 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. Based on data from MarketBeat, Maplight Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $31.00.
View Our Latest Stock Report on MPLT
About Maplight Therapeutics
(
Get Free Report)
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
