Maplight Therapeutics (NASDAQ:MPLT) Sees Strong Trading Volume After Insider Buying Activity

Maplight Therapeutics, Inc. (NASDAQ:MPLT) saw strong trading volume on Tuesday following insider buying activity. 4,247,610 shares traded hands during trading, an increase of 982% from the previous session’s volume of 392,687 shares.The stock last traded at $11.8450 and had previously closed at $9.90.

Specifically, Director Troy Cox purchased 15,620 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was bought at an average price of $9.52 per share, for a total transaction of $148,702.40. Following the purchase, the director owned 15,620 shares of the company’s stock, valued at $148,702.40. The trade was a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Wall Street Analyst Weigh In

Several research firms have commented on MPLT. HC Wainwright dropped their price objective on shares of Maplight Therapeutics from $45.00 to $26.00 and set a “buy” rating on the stock in a report on Tuesday. Needham & Company LLC lifted their target price on shares of Maplight Therapeutics from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Morgan Stanley reissued an “equal weight” rating and issued a $21.00 price target (down from $34.00) on shares of Maplight Therapeutics in a research report on Tuesday. Raymond James Financial started coverage on shares of Maplight Therapeutics in a research note on Wednesday, June 24th. They set a “strong-buy” rating and a $46.00 price target on the stock. Finally, Stifel Nicolaus lifted their price objective on shares of Maplight Therapeutics from $28.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, June 1st. Four analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Maplight Therapeutics currently has a consensus rating of “Buy” and an average target price of $34.42.

Maplight Therapeutics Trading Down 6.6%

The business has a fifty day moving average of $31.28 and a 200-day moving average of $24.99. The firm has a market cap of $597.93 million and a PE ratio of -0.34.

Maplight Therapeutics (NASDAQ:MPLT) last posted its 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). On average, equities analysts forecast that Maplight Therapeutics, Inc. will post -5.13 EPS for the current year.

Hedge Funds Weigh In On Maplight Therapeutics

Several hedge funds have recently bought and sold shares of MPLT. Janus Henderson Group PLC bought a new stake in Maplight Therapeutics during the 1st quarter worth approximately $1,113,000. ADAR1 Capital Management LLC bought a new position in Maplight Therapeutics in the 1st quarter valued at $7,622,000. Bank of New York Mellon Corp grew its position in shares of Maplight Therapeutics by 10.1% during the 1st quarter. Bank of New York Mellon Corp now owns 39,465 shares of the company’s stock valued at $802,000 after purchasing an additional 3,608 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new position in shares of Maplight Therapeutics in the fourth quarter worth $49,168,000. Finally, Invesco Ltd. bought a new position in shares of Maplight Therapeutics in the fourth quarter worth $228,000.

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.