Maplight Therapeutics (NASDAQ:MPLT) Insider James Woodruff Lillie Sells 11,513 Shares of Company Stock

Maplight Therapeutics, Inc. (NASDAQ:MPLT) insider James Lillie sold 11,513 shares of the business’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $8.08, for a total value of $93,025.04. Following the completion of the sale, the insider directly owned 198,597 shares in the company, valued at $1,604,663.76. This trade represents a 5.48% decrease in their ownership of the stock. The transaction 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.

James Woodruff Lillie also recently made the following trade(s):

• On Monday, August 3rd, James Lillie sold 22,082 shares of Maplight Therapeutics stock. The stock was sold at an average price of $12.54, for a total value of $276,908.28.

Maplight Therapeutics Stock Down 4.0%

Shares of NASDAQ:MPLT traded down $0.32 on Friday, hitting $7.70. 359,069 shares of the company traded hands, compared to its average volume of 479,482. Maplight Therapeutics, Inc. has a 52 week low of $7.46 and a 52 week high of $40.43. The stock has a 50 day simple moving average of $11.24 and a 200-day simple moving average of $22.37. The company has a market cap of $427.97 million and a PE ratio of -0.18.

Maplight Therapeutics (NASDAQ:MPLT) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($1.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.40) by $0.08. As a group, sell-side analysts anticipate that Maplight Therapeutics, Inc. will post -5.01 earnings per share for the current year.

Trending Headlines about Maplight Therapeutics

Here are the key news stories impacting Maplight Therapeutics this week:

• Positive Sentiment: MapLight Therapeutics is described as technically oversold after falling 29.2% over four weeks, potentially creating conditions for a rebound. Wall Street analysts have also been revising earnings estimates higher, providing a possible catalyst for a trend reversal. Down 29.2% in 4 Weeks, Here’s Why You Should You Buy the Dip in MapLight Therapeutics
• Neutral Sentiment: CEO Christopher Kroeger sold 73,691 shares for approximately $595,423, while CFO Jonathan Gillis sold 10,167 shares for approximately $82,149. Both executives retained substantial holdings, and the filings said the sales covered tax obligations tied to equity vesting. CEO Form 4 Filing CFO Form 4 Filing
• Negative Sentiment: Additional insiders Erin Pennock Foff, James Lillie and Anatol Kreitzer sold a combined 39,116 shares for roughly $313,118. Although these were also tax-withholding transactions, the cluster of insider selling can weigh on sentiment and add perceived supply pressure. Erin Pennock Foff Form 4 Filing James Lillie Form 4 Filing Anatol Kreitzer Form 4 Filing

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MPLT. Needham & Company LLC decreased their target price on shares of Maplight Therapeutics from $45.00 to $43.00 and set a “buy” rating for the company in a report on Monday, August 31st. BMO Capital Markets assumed coverage on shares of Maplight Therapeutics in a research note on Monday, July 20th. They issued an “outperform” rating and a $46.00 target price on the stock. Jefferies Financial Group reiterated a “buy” rating on shares of Maplight Therapeutics in a report on Monday, July 27th. Craig Hallum reissued a “buy” rating and set a $25.00 price target on shares of Maplight Therapeutics in a research report on Tuesday, July 28th. Finally, HC Wainwright reduced their price target on shares of Maplight Therapeutics from $45.00 to $26.00 and set a “buy” rating for the company in a research report on Tuesday, July 28th. Four investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $29.50.

Institutional Investors Weigh In On Maplight Therapeutics

Large investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Maplight Therapeutics in the 2nd quarter worth about $36,741,000. Nan Fung Group Holdings Ltd bought a new position in Maplight Therapeutics during the 2nd quarter valued at about $34,809,708. 5AM Venture Management LLC bought a new position in Maplight Therapeutics during the 2nd quarter valued at about $34,048,394. Blue Owl Capital Holdings LP purchased a new stake in shares of Maplight Therapeutics during the 2nd quarter valued at about $26,161,000. Finally, ADAR1 Capital Management LLC purchased a new stake in shares of Maplight Therapeutics during the 1st quarter valued at about $7,622,000.

Maplight Therapeutics Company Profile

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.