Insider Selling: Maplight Therapeutics (NASDAQ:MPLT) Director Sells $121,672.60 in Stock

Maplight Therapeutics, Inc. (NASDAQ:MPLT) Director Robert Malenka sold 6,524 shares of the business’s stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $18.65, for a total value of $121,672.60. Following the completion of the transaction, the director owned 393,147 shares in the company, valued at $7,332,191.55. This trade represents a 1.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Maplight Therapeutics Stock Down 4.8%

Shares of MPLT stock opened at $17.69 on Monday. The stock has a market cap of $802.65 million and a P/E ratio of -0.48. The company has a 50 day moving average of $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 released 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).

Analyst Ratings Changes

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