Key Points
- Insider sale: James Woodruff Lillie sold 11,513 MapLight Therapeutics shares for approximately $93,025 to cover tax withholding on vested equity awards, reducing his holdings by 5.48% to 198,597 shares.
- Sharp stock decline: MPLT fell 4.0% to $7.70, near its 52-week low of $7.46, with the stock substantially below its 50-day and 200-day moving averages.
- Analyst outlook remains mixed: UBS downgraded the stock to neutral and cut its price target to $13, while the broader analyst consensus remains “Moderate Buy” with a $29.50 target price. Institutional investors, including BlackRock and Nan Fung Group, recently established sizable positions.
Maplight Therapeutics, Inc. (NASDAQ:MPLT - Get Free Report) CFO Jonathan Gillis sold 10,167 shares of the business's stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $8.08, for a total value of $82,149.36. Following the completion of the sale, the chief financial officer owned 142,315 shares of the company's stock, valued at $1,149,905.20. The trade was a 6.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Maplight Therapeutics Stock Down 4.0%
Shares of Maplight Therapeutics stock traded down $0.32 on Friday, hitting $7.70. The stock had a trading volume of 359,069 shares, compared to its average volume of 479,482. Maplight Therapeutics, Inc. has a one year low of $7.46 and a one year high of $40.43. The stock has a market cap of $427.97 million and a price-to-earnings ratio of -0.18. The stock's 50-day simple moving average is $11.24 and its two-hundred day simple moving average is $22.37.
Maplight Therapeutics (NASDAQ:MPLT - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported ($1.32) EPS for the quarter, topping the consensus estimate of ($1.40) by $0.08. As a group, equities analysts predict that Maplight Therapeutics, Inc. will post -5.01 EPS for the current fiscal year.
Hedge Funds Weigh In On Maplight Therapeutics
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP lifted its stake in Maplight Therapeutics by 12.4% in the second quarter. Wellington Management Group LLP now owns 51,917 shares of the company's stock worth $1,861,000 after acquiring an additional 5,709 shares during the period. Bank of America Corp DE purchased a new position in Maplight Therapeutics during the 2nd quarter valued at $1,952,000. Freestone Grove Partners LP bought a new position in Maplight Therapeutics in the 2nd quarter worth $6,054,000. 5AM Venture Management LLC bought a new position in Maplight Therapeutics in the 2nd quarter worth $34,048,394. Finally, ADAR1 Capital Management LLC bought a new position in Maplight Therapeutics in the 2nd quarter worth $950,000.
Maplight Therapeutics News Summary
Here are the key news stories impacting Maplight Therapeutics this week:
- Positive Sentiment: MapLight Therapeutics is described as technically oversold after falling 29.2% over four weeks, potentially creating conditions for a rebound. Wall Street analysts have also been revising earnings estimates higher, providing a possible catalyst for a trend reversal. Down 29.2% in 4 Weeks, Here's Why You Should You Buy the Dip in MapLight Therapeutics
- Neutral Sentiment: CEO Christopher Kroeger sold 73,691 shares for approximately $595,423, while CFO Jonathan Gillis sold 10,167 shares for approximately $82,149. Both executives retained substantial holdings, and the filings said the sales covered tax obligations tied to equity vesting. CEO Form 4 Filing CFO Form 4 Filing
- Negative Sentiment: Additional insiders Erin Pennock Foff, James Lillie and Anatol Kreitzer sold a combined 39,116 shares for roughly $313,118. Although these were also tax-withholding transactions, the cluster of insider selling can weigh on sentiment and add perceived supply pressure. Erin Pennock Foff Form 4 Filing James Lillie Form 4 Filing Anatol Kreitzer Form 4 Filing
Analyst Ratings Changes
MPLT has been the topic of a number of analyst reports. Craig Hallum restated a "buy" rating and issued a $25.00 price objective on shares of Maplight Therapeutics in a research report on Tuesday, July 28th. Needham & Company LLC dropped their target price on shares of Maplight Therapeutics from $45.00 to $43.00 and set a "buy" rating for the company in a report on Monday, August 31st. Wolfe Research reiterated an "outperform" rating and set a $30.00 target price on shares of Maplight Therapeutics in a report on Monday, July 27th. Jefferies Financial Group reissued a "buy" rating on shares of Maplight Therapeutics in a research note on Monday, July 27th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Maplight Therapeutics in a report on Friday, October 9th. Four equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $29.50.
Check Out Our Latest Research Report on MPLT
About Maplight Therapeutics
(
Get Free Report)
MapLight Therapeutics is a clinical-stage biopharmaceutical company developing medicines for neuropsychiatric and neurological disorders. The company focuses on conditions for which existing treatments may provide limited benefits or cause significant side effects.
MapLight uses a neuroscience-focused drug discovery and development approach to identify therapies intended to address the underlying biology of central nervous system disorders. Its pipeline includes investigational small-molecule treatments being studied for conditions such as schizophrenia and other serious mental health disorders.
The company conducts research and clinical development in the United States.
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