Maplight Therapeutics (NASDAQ:MPLT) Stock: Insider Erin Pennock Foff Sells 15,355 Shares

Maplight Therapeutics, Inc. (NASDAQ:MPLT) insider Erin Pennock Foff sold 15,355 shares of the company’s stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $8.08, for a total transaction of $124,068.40. Following the completion of the transaction, the insider owned 296,906 shares of the company’s stock, valued at approximately $2,399,000.48. The trade was a 4.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Maplight Therapeutics Trading Down 4.0%

Shares of NASDAQ MPLT traded down $0.32 during mid-day trading on Friday, reaching $7.70. The company had a trading volume of 359,069 shares, compared to its average volume of 472,697. The firm has a 50 day simple moving average of $11.33 and a two-hundred day simple moving average of $22.47. Maplight Therapeutics, Inc. has a 52-week low of $7.46 and a 52-week high of $40.43. The stock has a market cap of $427.94 million and a P/E ratio of -0.18.

Maplight Therapeutics (NASDAQ:MPLT) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($1.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.40) by $0.08. On average, equities analysts expect that Maplight Therapeutics, Inc. will post -5.01 EPS for the current year.

Hedge Funds Weigh In On Maplight Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in MPLT. Legal & General Group Plc acquired a new position in Maplight Therapeutics in the 2nd quarter valued at about $37,000. The Manufacturers Life Insurance Company acquired a new stake in Maplight Therapeutics during the 2nd quarter worth approximately $252,000. Deutsche Bank AG purchased a new position in shares of Maplight Therapeutics in the 2nd quarter valued at approximately $370,000. ADAR1 Capital Management LLC acquired a new position in shares of Maplight Therapeutics in the second quarter valued at approximately $950,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Maplight Therapeutics during the second quarter worth approximately $1,090,000.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. BMO Capital Markets started coverage on Maplight Therapeutics in a report on Monday, July 20th. They issued an “outperform” rating and a $46.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Maplight Therapeutics in a research note on Friday, October 9th. Benchmark reaffirmed a “buy” rating on shares of Maplight Therapeutics in a research report on Monday, June 22nd. Wall Street Zen cut Maplight Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 3rd. Finally, Guggenheim began coverage on Maplight Therapeutics in a report on Monday, October 5th. They issued a “neutral” rating for the company. Four equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Maplight Therapeutics has an average rating of “Moderate Buy” and an average price target of $29.50.

About Maplight Therapeutics

MapLight Therapeutics is a clinical-stage biopharmaceutical company developing medicines for neuropsychiatric and neurological disorders. The company focuses on conditions for which existing treatments may provide limited benefits or cause significant side effects.

MapLight uses a neuroscience-focused drug discovery and development approach to identify therapies intended to address the underlying biology of central nervous system disorders. Its pipeline includes investigational small-molecule treatments being studied for conditions such as schizophrenia and other serious mental health disorders.

The company conducts research and clinical development in the United States.