Maplight Therapeutics (NASDAQ:MPLT) Shares Up 5.6% – What’s Next?

Maplight Therapeutics, Inc. (NASDAQ:MPLT) rose 5.6% during mid-day trading on Thursday . The stock traded as high as $19.19 and last traded at $19.1550. Approximately 30,911 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 189,700 shares. The stock had previously closed at $18.14.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Wall Street Zen cut shares of Maplight Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Weiss Ratings started coverage on shares of Maplight Therapeutics in a research report on Thursday, January 22nd. They set a “sell (e)” rating on the stock. Finally, Canaccord Genuity Group initiated coverage on Maplight Therapeutics in a research note on Thursday, March 19th. They issued a “buy” rating and a $35.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Maplight Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $31.80.

Maplight Therapeutics Trading Up 5.0%

The stock’s 50 day moving average is $17.82. The stock has a market cap of $863.99 million and a price-to-earnings ratio of -0.51.

Insider Activity

In other news, Director Robert C. Malenka sold 21,262 shares of the stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $18.55, for a total transaction of $394,410.10. Following the completion of the transaction, the director owned 371,885 shares in the company, valued at approximately $6,898,466.75. This represents a 5.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy John Garnett acquired 14,124 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The stock was purchased at an average cost of $17.89 per share, with a total value of $252,678.36. Following the acquisition, the director owned 14,124 shares in the company, valued at $252,678.36. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have bought 39,124 shares of company stock valued at $693,846 and have sold 74,612 shares valued at $1,368,065.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. 5AM Venture Management LLC bought a new position in shares of Maplight Therapeutics in the fourth quarter worth $16,687,000. Fcpm Iii Services B.V. bought a new position in Maplight Therapeutics in the 4th quarter worth about $56,672,000. Walleye Capital LLC purchased a new position in Maplight Therapeutics during the 4th quarter valued at about $205,000. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Maplight Therapeutics during the fourth quarter valued at about $70,000. Finally, MetLife Investment Management LLC bought a new stake in shares of Maplight Therapeutics during the fourth quarter valued at about $172,000.

About Maplight Therapeutics

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.