Insider Selling: Maplight Therapeutics (NASDAQ:MPLT) CEO Sells 20,100 Shares of Stock

Maplight Therapeutics, Inc. (NASDAQ:MPLT) CEO Christopher Kroeger sold 20,100 shares of Maplight Therapeutics stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $28.65, for a total transaction of $575,865.00. Following the sale, the chief executive officer owned 1,560,720 shares of the company’s stock, valued at $44,714,628. The trade was a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Maplight Therapeutics Price Performance

Shares of NASDAQ:MPLT traded up $2.69 on Monday, hitting $30.09. 288,241 shares of the company were exchanged, compared to its average volume of 312,441. 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 price of $23.27. The stock has a market cap of $1.28 billion and a price-to-earnings ratio of -0.76.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MPLT. Strs Ohio acquired a new position in shares of Maplight Therapeutics during the 4th quarter worth about $53,000. Blue Owl Capital Holdings LP acquired a new position in shares of Maplight Therapeutics during the 4th quarter worth about $5,745,000. Geode Capital Management LLC acquired a new position in shares of Maplight Therapeutics during the 4th quarter worth about $6,835,000. Seven Grand Managers LLC acquired a new position in shares of Maplight Therapeutics during the 4th quarter worth about $1,756,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Maplight Therapeutics during the 4th quarter worth about $34,026,000.

Wall Street Analyst Weigh In

MPLT has been the subject of a number of research reports. Weiss Ratings initiated coverage on shares of Maplight Therapeutics in a research report on Thursday, January 22nd. They set a “sell (e)” rating for the company. Canaccord Genuity Group initiated coverage on shares of Maplight Therapeutics in a research report on Thursday, March 19th. They set a “buy” rating and a $35.00 target price for the company. TD Cowen initiated coverage on shares of Maplight Therapeutics in a research report on Tuesday, April 7th. They set a “buy” rating for the company. Needham & Company LLC initiated coverage on shares of Maplight Therapeutics in a research report on Wednesday, April 8th. They set a “buy” rating and a $37.00 target price for the company. Finally, HC Wainwright initiated coverage on shares of Maplight Therapeutics in a research report on Monday, May 4th. They set a “buy” rating and a $45.00 target price for the company. One analyst has 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 company’s stock. According to data from MarketBeat.com, Maplight Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $34.43.

About Maplight Therapeutics

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.