Maplight Therapeutics (NASDAQ:MPLT) Shares Gap Up Following Insider Buying Activity

Maplight Therapeutics, Inc. (NASDAQ:MPLT)’s stock price gapped up prior to trading on Monday after an insider bought additional shares in the company. The stock had previously closed at $17.88, but opened at $18.87. Maplight Therapeutics shares last traded at $19.93, with a volume of 101,257 shares changing hands.

Specifically, Director George Pavlov acquired 9,920 shares of the company’s stock in a transaction dated Friday, February 20th. The shares were purchased at an average price of $17.86 per share, for a total transaction of $177,171.20. Following the completion of the acquisition, the director owned 25,000 shares of the company’s stock, valued at approximately $446,500. This trade represents a 65.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George Pavlov bought 4,422 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The stock was purchased at an average cost of $17.57 per share, with a total value of $77,694.54. Following the completion of the transaction, the director directly owned 15,080 shares in the company, valued at $264,955.60. This represents a 41.49% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In other news, Director George Pavlov acquired 10,658 shares of Maplight Therapeutics stock in a transaction on Wednesday, February 18th. The stock was purchased at an average price of $17.48 per share, with a total value of $186,301.84. Following the completion of the purchase, the director owned 10,658 shares of the company’s stock, valued at approximately $186,301.84. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MPLT shares. Weiss Ratings initiated coverage on shares of Maplight Therapeutics in a research report on Thursday, January 22nd. They issued a “sell (e)” rating for the company. Jefferies Financial Group initiated coverage on shares of Maplight Therapeutics in a report on Friday, November 21st. They set a “buy” rating and a $32.00 price objective for the company. Leerink Partners initiated coverage on Maplight Therapeutics in a research note on Friday, November 21st. They set an “outperform” rating and a $30.00 price target for the company. Morgan Stanley initiated coverage on Maplight Therapeutics in a report on Friday, November 21st. They set an “overweight” rating and a $34.00 price objective for the company. Finally, Stifel Nicolaus initiated coverage on Maplight Therapeutics in a report on Friday, November 21st. They issued a “buy” rating and a $28.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $31.00.

Maplight Therapeutics Trading Up 10.3%

The firm has a market cap of $894.70 million and a PE ratio of -0.53. The stock’s 50 day simple moving average is $17.93.

Maplight Therapeutics (NASDAQ:MPLT) last issued its quarterly earnings results on Thursday, December 4th. The company reported ($37.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.86) by ($35.32).

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Strs Ohio bought a new stake in shares of Maplight Therapeutics in the 4th quarter worth approximately $53,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Maplight Therapeutics in the fourth quarter worth $70,000. New York State Common Retirement Fund bought a new stake in shares of Maplight Therapeutics in the fourth quarter valued at $93,000. MetLife Investment Management LLC purchased a new position in shares of Maplight Therapeutics during the 4th quarter valued at $172,000. Finally, Walleye Capital LLC bought a new position in shares of Maplight Therapeutics during the 4th quarter worth $205,000.

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.