Insider Selling: Maplight Therapeutics (NASDAQ:MPLT) Director Sells $394,410.10 in Stock

Maplight Therapeutics, Inc. (NASDAQ:MPLT) Director Robert Malenka sold 21,262 shares of the business’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $18.55, for a total value of $394,410.10. Following the completion of the sale, the director directly owned 371,885 shares of the company’s stock, valued at approximately $6,898,466.75. The trade was a 5.41% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Maplight Therapeutics Stock Performance

Shares of MPLT opened at $17.69 on Monday. The company has a market capitalization of $802.65 million and a price-to-earnings ratio of -0.48. The company’s 50 day simple moving average is $17.62. Maplight Therapeutics, Inc. has a twelve month low of $12.24 and a twelve month high of $21.55.

Maplight Therapeutics (NASDAQ:MPLT) last announced its quarterly earnings results on Thursday, December 4th. The company reported ($37.18) EPS for the quarter, missing the consensus estimate of ($1.86) by ($35.32).

Wall Street Analyst Weigh In

MPLT has been the topic of a number of analyst reports. Zacks Research raised Maplight Therapeutics to a “hold” rating in a report on Monday, November 24th. Wall Street Zen upgraded Maplight Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, December 20th. Morgan Stanley assumed coverage on shares of Maplight Therapeutics in a research note on Friday, November 21st. They issued an “overweight” rating and a $34.00 price objective for the company. Jefferies Financial Group began coverage on shares of Maplight Therapeutics in a research note on Friday, November 21st. They issued a “buy” rating and a $32.00 target price on the stock. Finally, Stifel Nicolaus started coverage on shares of Maplight Therapeutics in a research report on Friday, November 21st. They set a “buy” rating and a $28.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

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.