Maplight Therapeutics (NASDAQ:MPLT) Cut to Sell at Wall Street Zen

Maplight Therapeutics (NASDAQ:MPLT) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

A number of other brokerages also recently commented on MPLT. Weiss Ratings began coverage on Maplight Therapeutics in a research note on Thursday, January 22nd. They issued a “sell (e)” rating on the stock. Canaccord Genuity Group began coverage on Maplight Therapeutics in a report on Thursday. They issued a “buy” rating and a $35.00 price target for the company. Morgan Stanley initiated coverage on Maplight Therapeutics in a research report on Friday, November 21st. They issued an “overweight” rating and a $34.00 price objective on the stock. Jefferies Financial Group started 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 for the company. Finally, Stifel Nicolaus assumed coverage on shares of Maplight Therapeutics in a research report on Friday, November 21st. They set a “buy” rating and a $28.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.80.

Maplight Therapeutics Price Performance

Shares of MPLT opened at $17.56 on Friday. The stock’s 50-day moving average is $17.88. The firm has a market cap of $796.70 million and a P/E ratio of -0.47. Maplight Therapeutics has a fifty-two week low of $12.24 and a fifty-two week high of $21.55.

Insider Activity at Maplight Therapeutics

In related news, Director Timothy John Garnett bought 14,124 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were acquired at an average price of $17.89 per share, for a total transaction of $252,678.36. Following the completion of the transaction, the director directly owned 14,124 shares in the company, valued at $252,678.36. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert C. Malenka sold 11,264 shares of Maplight Therapeutics stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $18.42, for a total value of $207,482.88. Following the completion of the sale, the director owned 325,795 shares in the company, valued at approximately $6,001,143.90. The trade was a 3.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have purchased 39,124 shares of company stock valued at $693,846 and have sold 74,612 shares valued at $1,368,065.

Institutional Investors Weigh In On Maplight Therapeutics

A number of large investors have recently modified their holdings of the business. Strs Ohio purchased a new position in shares of Maplight Therapeutics in the fourth quarter worth about $53,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Maplight Therapeutics during the 4th quarter valued at about $70,000. New York State Common Retirement Fund purchased a new stake in Maplight Therapeutics during the 4th quarter valued at about $93,000. MetLife Investment Management LLC acquired a new stake in Maplight Therapeutics in the 4th quarter valued at about $172,000. Finally, Walleye Capital LLC purchased a new position in Maplight Therapeutics in the 4th quarter worth approximately $205,000.

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.