Maplight Therapeutics (NASDAQ:MPLT) Shares Gap Down – Time to Sell?

Maplight Therapeutics, Inc. (NASDAQ:MPLT)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $16.80, but opened at $16.04. Maplight Therapeutics shares last traded at $16.37, with a volume of 6,739 shares traded.

Analyst Ratings Changes

Several brokerages have recently commented on MPLT. Leerink Partners started coverage on Maplight Therapeutics in a research note on Friday, November 21st. They issued an “outperform” rating and a $30.00 price objective for the company. Zacks Research raised shares of Maplight Therapeutics to a “hold” rating in a report on Monday, November 24th. Morgan Stanley started coverage on Maplight Therapeutics in a research note on Friday, November 21st. They issued an “overweight” rating and a $34.00 price objective on the stock. Stifel Nicolaus began coverage on shares of Maplight Therapeutics in a report on Friday, November 21st. They set a “buy” rating and a $28.00 price objective on the stock. Finally, Jefferies Financial Group started coverage on Maplight Therapeutics in a research report on Friday, November 21st. They set a “buy” rating and a $32.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.00.

Maplight Therapeutics Stock Performance

The stock has a market cap of $770.43 million and a price-to-earnings ratio of -0.46. The business’s 50-day moving average price is $18.00.

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

Insider Activity at Maplight Therapeutics

In other news, Director Robert C. Malenka sold 21,262 shares of the business’s stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $18.55, for a total value of $394,410.10. Following the completion of the sale, the director 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 41,438 shares of company stock valued at $762,687 in the last quarter.

Institutional Investors Weigh In On Maplight Therapeutics

An institutional investor recently bought a new position in Maplight Therapeutics stock. Strs Ohio bought a new stake in shares of Maplight Therapeutics, Inc. (NASDAQ:MPLT) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,000 shares of the company’s stock, valued at approximately $53,000.

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.