Maplight Therapeutics (NASDAQ:MPLT) Insider Sells $298,243.20 in Stock

Maplight Therapeutics, Inc. (NASDAQ:MPLT) insider Erin Pennock Foff sold 10,576 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $28.20, for a total value of $298,243.20. Following the sale, the insider owned 374,549 shares of the company’s stock, valued at approximately $10,562,281.80. The trade was a 2.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Erin Pennock Foff also recently made the following trade(s):

• On Wednesday, May 6th, Erin Pennock Foff sold 24,052 shares of Maplight Therapeutics stock. The stock was sold at an average price of $28.76, for a total value of $691,735.52.
• On Monday, May 4th, Erin Pennock Foff sold 15,652 shares of Maplight Therapeutics stock. The stock was sold at an average price of $27.96, for a total value of $437,629.92.

Maplight Therapeutics Stock Performance

MPLT stock opened at $27.40 on Friday. The stock’s 50 day simple moving average is $22.83. The stock has a market capitalization of $1.17 billion and a PE ratio of -0.69. Maplight Therapeutics, Inc. has a fifty-two week low of $12.24 and a fifty-two week high of $33.28.

Maplight Therapeutics (NASDAQ:MPLT) last posted its earnings results on Thursday, March 26th. The company reported ($2.47) earnings per share for the quarter, missing the consensus estimate of ($1.05) by ($1.42). Research analysts predict that Maplight Therapeutics, Inc. will post -3.96 EPS for the current fiscal year.

Institutional Investors Weigh In On Maplight Therapeutics

Several hedge funds have recently made changes to their positions in MPLT. Strs Ohio acquired a new stake in shares of Maplight Therapeutics during the fourth quarter worth about $53,000. Blue Owl Capital Holdings LP acquired a new stake in shares of Maplight Therapeutics during the fourth quarter worth about $5,745,000. Geode Capital Management LLC acquired a new stake in shares of Maplight Therapeutics during the fourth quarter worth about $6,835,000. Seven Grand Managers LLC acquired a new stake in shares of Maplight Therapeutics during the fourth quarter worth about $1,756,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Maplight Therapeutics during the fourth quarter worth about $34,026,000.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MPLT shares. Canaccord Genuity Group started coverage on Maplight Therapeutics in a research note on Thursday, March 19th. They set a “buy” rating and a $35.00 target price for the company. Wall Street Zen cut Maplight Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. TD Cowen initiated coverage on Maplight Therapeutics in a research note on Tuesday, April 7th. They set a “buy” rating for the company. Weiss Ratings initiated coverage on Maplight Therapeutics in a research note on Thursday, January 22nd. They issued a “sell (e)” rating for the company. Finally, HC Wainwright initiated coverage on Maplight Therapeutics in a research note on Monday. They issued a “buy” rating and a $45.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Maplight Therapeutics has an average rating of “Moderate Buy” and an average price target of $34.43.

Trending Headlines about Maplight Therapeutics

Here are the key news stories impacting Maplight Therapeutics this week:

• Positive Sentiment: MapLight Therapeutics announced that management will participate in upcoming investor conferences, which can help keep the company visible to potential investors and may provide a near-term catalyst. MapLight Therapeutics to Participate in Upcoming Investor Conferences
• Positive Sentiment: Needham reiterated a Buy rating on MPLT, reinforcing Wall Street support for the stock and helping offset some of the recent negative sentiment. Needham Reaffirms Buy Rating
• Positive Sentiment: Recent analyst coverage elsewhere in the tape remained constructive, including Buy ratings and higher price targets, which supports the longer-term bullish case for MapLight Therapeutics. Analyst coverage summary
• Neutral Sentiment: The company’s recent earnings history remains mixed, with a prior quarterly loss wider than expected; this is still part of the backdrop but not the main driver of today’s move. MPLT earnings summary
• Negative Sentiment: Multiple insiders, including CEO Christopher Kroeger, CFO Vishwas Setia, and insiders James Woodruff Lillie and Erin Pennock Foff, sold shares over May 4–6. Although the sales were made under pre-arranged Rule 10b5-1 plans, the cluster of transactions can weigh on sentiment and suggest near-term selling pressure. CEO Form 4 filing
• Negative Sentiment: The repeated insider sales may be contributing to the stock’s decline today, as investors often view sustained insider selling as a cautionary signal even when it is pre-planned. Insider sale filing

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.