Maplight Therapeutics (NASDAQ:MPLT) Hits New 52-Week Low – What’s Next?

Maplight Therapeutics, Inc. (NASDAQ:MPLT) shares hit a new 52-week low during trading on Monday . The company traded as low as $11.27 and last traded at $12.97, with a volume of 1785298 shares changing hands. The stock had previously closed at $36.56.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. UBS Group boosted their price objective on Maplight Therapeutics from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Craig Hallum dropped their target price on Maplight Therapeutics from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Tuesday, June 23rd. Benchmark reissued a “buy” rating on shares of Maplight Therapeutics in a research note on Monday, June 22nd. HC Wainwright restated a “buy” rating on shares of Maplight Therapeutics in a report on Monday, June 22nd. Finally, Wolfe Research raised Maplight Therapeutics to a “strong-buy” rating in a research note on Friday, July 10th. Five investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Maplight Therapeutics currently has an average rating of “Buy” and an average price target of $40.82.

Maplight Therapeutics Stock Down 66.5%

The company’s 50 day moving average price is $32.17 and its 200-day moving average price is $25.08. The stock has a market cap of $522.03 million and a P/E ratio of -0.30.

Maplight Therapeutics (NASDAQ:MPLT) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($1.34) earnings per share for the quarter, missing the consensus estimate of ($0.91) by ($0.43). Equities research analysts anticipate that Maplight Therapeutics, Inc. will post -5.13 earnings per share for the current year.

Insider Buying and Selling

In other Maplight Therapeutics news, CEO Christopher A. Kroeger sold 118,235 shares of Maplight Therapeutics stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $27.19, for a total transaction of $3,214,809.65. Following the transaction, the chief executive officer directly owned 1,394,094 shares of the company’s stock, valued at approximately $37,905,415.86. The trade was a 7.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Erin Pennock Foff sold 24,052 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $28.76, for a total value of $691,735.52. Following the completion of the sale, the insider owned 350,497 shares in the company, valued at $10,080,293.72. This trade represents a 6.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 397,922 shares of company stock valued at $11,188,738 over the last 90 days. 3.80% of the stock is owned by corporate insiders.

Institutional Trading of Maplight Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Strs Ohio bought a new position in Maplight Therapeutics during the 4th quarter worth approximately $53,000. Bank of New York Mellon Corp lifted its position in shares of Maplight Therapeutics by 10.1% in the 1st quarter. Bank of New York Mellon Corp now owns 39,465 shares of the company’s stock worth $802,000 after purchasing an additional 3,608 shares during the period. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Maplight Therapeutics in the 4th quarter valued at $70,000. New York State Common Retirement Fund acquired a new stake in shares of Maplight Therapeutics during the fourth quarter worth $93,000. Finally, MetLife Investment Management LLC acquired a new stake in shares of Maplight Therapeutics during the fourth quarter worth $172,000.

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.