Maplight Therapeutics (NASDAQ:MPLT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Maplight Therapeutics (NASDAQ:MPLT) from a strong sell rating to a sell rating in a research report report published on Saturday morning,Wall Street Zen reports.

A number of other equities analysts also recently commented on MPLT. Canaccord Genuity Group set a $21.00 price objective on Maplight Therapeutics in a report on Friday, August 14th. Jefferies Financial Group reiterated a “buy” rating on shares of Maplight Therapeutics in a research note on Monday, July 27th. Needham & Company LLC decreased their target price on shares of Maplight Therapeutics from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Monday, August 31st. Raymond James Financial set a $31.00 target price on shares of Maplight Therapeutics in a research report on Friday, August 14th. Finally, HC Wainwright dropped their price target on shares of Maplight Therapeutics from $45.00 to $26.00 and set a “buy” rating on the stock in a research note on Tuesday, July 28th. Four investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.50.

Maplight Therapeutics Stock Down 10.6%

MPLT opened at $6.78 on Friday. Maplight Therapeutics has a fifty-two week low of $6.76 and a fifty-two week high of $40.43. The business has a 50-day moving average of $10.37 and a 200-day moving average of $20.35.

Maplight Therapeutics (NASDAQ:MPLT) last announced 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. As a group, sell-side analysts anticipate that Maplight Therapeutics will post -5.01 EPS for the current fiscal year.

Insider Activity at Maplight Therapeutics

In other news, CFO Jonathan Gillis sold 10,167 shares of the company’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $8.08, for a total transaction of $82,149.36. Following the completion of the sale, the chief financial officer owned 142,315 shares in the company, valued at approximately $1,149,905.20. This represents a 6.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider James Lillie sold 11,513 shares of the stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $8.08, for a total value of $93,025.04. Following the transaction, the insider directly owned 198,597 shares in the company, valued at approximately $1,604,663.76. This represents a 5.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 122,974 shares of company stock worth $990,690 in the last 90 days. Insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Maplight Therapeutics

A number of large investors have recently added to or reduced their stakes in MPLT. Nan Fung Group Holdings Ltd acquired a new stake in shares of Maplight Therapeutics in the second quarter worth $34,809,708. BlackRock Inc. bought a new stake in shares of Maplight Therapeutics during the 2nd quarter worth $36,741,000. Blue Owl Capital Holdings LP bought a new stake in shares of Maplight Therapeutics during the 2nd quarter worth $26,161,000. ADAR1 Capital Management LLC acquired a new position in Maplight Therapeutics in the 1st quarter valued at $7,622,000. Finally, 5AM Venture Management LLC acquired a new position in Maplight Therapeutics in the 2nd quarter valued at $34,048,394.

About Maplight Therapeutics

MapLight Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing treatments for neuropsychiatric and neurological disorders. The company’s research is centered on therapies designed to address underlying dysfunction in brain circuits and improve symptoms associated with serious conditions affecting the central nervous system.

MapLight is advancing a pipeline of investigational drug candidates through preclinical and clinical development. Its programs are intended to target significant unmet needs in areas such as schizophrenia and other neuropsychiatric conditions.