Key Points
- CEO Christopher Kroeger sold 118,235 shares of Maplight Therapeutics on May 18 at an average price of $27.19, totaling about $3.21 million. The sale was made under a pre-arranged Rule 10b5-1 plan, and Kroeger still owns more than 1.39 million shares.
- Maplight reported a wider-than-expected quarterly loss, posting earnings of $(1.34) per share versus analysts’ estimate of $(0.91). Analysts currently expect the company to remain unprofitable this fiscal year.
- Wall Street sentiment is mixed but generally positive, with the stock holding a “Moderate Buy” consensus and an average price target of $34.43. Several firms recently initiated or upgraded coverage, though a few analysts remain bearish.
Maplight Therapeutics, Inc. (NASDAQ:MPLT - Get Free Report) CEO Christopher Kroeger sold 118,235 shares of Maplight Therapeutics stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $27.19, for a total value of $3,214,809.65. Following the sale, the chief executive officer directly owned 1,394,094 shares in the company, valued at $37,905,415.86. The trade was a 7.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Maplight Therapeutics Stock Performance
Shares of MPLT opened at $26.50 on Tuesday. The firm has a market cap of $1.13 billion and a PE ratio of -0.67. Maplight Therapeutics, Inc. has a 1 year low of $12.24 and a 1 year high of $33.28. The stock has a 50 day moving average of $24.41.
Maplight Therapeutics (NASDAQ:MPLT - Get Free Report) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($1.34) earnings per share for the quarter, missing analysts' consensus estimates of ($0.91) by ($0.43). As a group, analysts anticipate that Maplight Therapeutics, Inc. will post -4.04 earnings per share for the current fiscal year.
Analyst Ratings Changes
MPLT has been the subject of several analyst reports. Canaccord Genuity Group started 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. Lifesci Capital raised shares of Maplight Therapeutics to a "strong-buy" rating in a report on Thursday, May 14th. Needham & Company LLC assumed coverage on shares of Maplight Therapeutics in a research note on Wednesday, April 8th. They issued a "buy" rating and a $37.00 target price for the company. Weiss Ratings began coverage on Maplight Therapeutics in a report on Thursday, January 22nd. They issued a "sell (e)" rating on the stock. Finally, Wall Street Zen cut Maplight Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, March 21st. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $34.43.
View Our Latest Research Report on MPLT
Institutional Investors Weigh In On Maplight Therapeutics
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Fcpm Iii Services B.V. acquired a new position in shares of Maplight Therapeutics during the fourth quarter valued at $56,672,000. T. Rowe Price Investment Management Inc. acquired a new stake in Maplight Therapeutics in the fourth quarter worth about $49,154,000. Goldman Sachs Group Inc. bought a new stake in Maplight Therapeutics during the 4th quarter worth about $34,026,000. Nan Fung Group Holdings Ltd acquired a new position in Maplight Therapeutics during the 4th quarter valued at about $17,060,000. Finally, 5AM Venture Management LLC bought a new position in shares of Maplight Therapeutics in the 4th quarter valued at about $16,687,000.
Maplight Therapeutics Company Profile
(
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.
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