Christopher Kroeger Sells 20,100 Shares of Maplight Therapeutics (NASDAQ:MPLT) Stock

Maplight Therapeutics, Inc. (NASDAQ:MPLT) CEO Christopher Kroeger sold 20,100 shares of the company’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $28.65, for a total transaction of $575,865.00. Following the transaction, the chief executive officer owned 1,560,720 shares of the company’s stock, valued at approximately $44,714,628. This trade represents a 1.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Maplight Therapeutics Trading Up 9.8%

Shares of MPLT traded up $2.69 during mid-day trading on Monday, hitting $30.09. 288,241 shares of the company were exchanged, compared to its average volume of 312,441. Maplight Therapeutics, Inc. has a 1-year low of $12.24 and a 1-year high of $33.28. The firm’s 50 day simple moving average is $23.27. The stock has a market cap of $1.28 billion and a PE ratio of -0.76.

Maplight Therapeutics (NASDAQ:MPLT) last released its quarterly earnings results on Thursday, March 26th. The company reported ($2.47) earnings per share for the quarter, missing the consensus estimate of ($1.05) by ($1.42). On average, equities research analysts expect that Maplight Therapeutics, Inc. will post -3.96 EPS for the current year.

Institutional Trading of Maplight Therapeutics

Several hedge funds have recently made changes to their positions in MPLT. Strs Ohio purchased a new stake in shares of Maplight Therapeutics in the 4th quarter valued at approximately $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 approximately $70,000. New York State Common Retirement Fund purchased a new stake in shares of Maplight Therapeutics in the 4th quarter valued at approximately $93,000. MetLife Investment Management LLC purchased a new stake in shares of Maplight Therapeutics in the 4th quarter valued at approximately $172,000. Finally, Walleye Capital LLC purchased a new stake in shares of Maplight Therapeutics in the 4th quarter valued at approximately $205,000.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wall Street Zen downgraded shares of Maplight Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. HC Wainwright assumed coverage on shares of Maplight Therapeutics in a report on Monday, May 4th. They issued a “buy” rating and a $45.00 price objective for the company. Needham & Company LLC assumed coverage on shares of Maplight Therapeutics in a report on Wednesday, April 8th. They issued a “buy” rating and a $37.00 price objective for the company. TD Cowen assumed coverage on shares of Maplight Therapeutics in a report on Tuesday, April 7th. They issued a “buy” rating for the company. Finally, Weiss Ratings assumed coverage on shares of Maplight Therapeutics in a report on Thursday, January 22nd. They issued a “sell (e)” rating for the company. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Maplight Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $34.43.

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.