Maplight Therapeutics (NASDAQ:MPLT) Shares Gap Up After Insider Buying Activity

Maplight Therapeutics, Inc. (NASDAQ:MPLT) gapped up before the market opened on Monday following insider buying activity. The stock had previously closed at $17.88, but opened at $18.87. Maplight Therapeutics shares last traded at $19.93, with a volume of 101,257 shares trading hands.

Specifically, Director George Pavlov bought 9,920 shares of Maplight Therapeutics stock in a transaction dated Friday, February 20th. The stock was purchased at an average cost of $17.86 per share, with a total value of $177,171.20. Following the transaction, the director directly owned 25,000 shares of the company’s stock, valued at approximately $446,500. The trade was a 65.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director George Pavlov purchased 4,422 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was bought at an average cost of $17.57 per share, for a total transaction of $77,694.54. Following the acquisition, the director directly owned 15,080 shares in the company, valued at $264,955.60. This trade represents a 41.49% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In other news, Director George Pavlov acquired 10,658 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The shares were acquired at an average price of $17.48 per share, for a total transaction of $186,301.84. Following the completion of the purchase, the director owned 10,658 shares in the company, valued at approximately $186,301.84. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

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

Maplight Therapeutics Stock Up 2.3%

The firm’s 50-day moving average price is $17.87. The company has a market cap of $830.27 million and a PE ratio of -0.49.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Strs Ohio bought a new stake in Maplight Therapeutics during the fourth quarter valued at $53,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Maplight Therapeutics in the 4th quarter valued at about $70,000. New York State Common Retirement Fund bought a new stake in shares of Maplight Therapeutics during the 4th quarter valued at about $93,000. MetLife Investment Management LLC purchased a new position in shares of Maplight Therapeutics during the fourth quarter worth about $172,000. Finally, Walleye Capital LLC bought a new position in shares of Maplight Therapeutics in the fourth 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.