Maplight Therapeutics (NASDAQ:MPLT) Shares Up 18.2% Following Insider Buying Activity

Maplight Therapeutics, Inc. (NASDAQ:MPLT)’s stock price traded up 18.2% during mid-day trading on Wednesday following insider buying activity. The stock traded as high as $14.49 and last traded at $14.5480. Approximately 378,003 shares were traded during trading, a decline of 6% from the average daily volume of 402,503 shares. The stock had previously closed at $12.31.

Specifically, Director Troy Cox acquired 15,620 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was bought at an average cost of $9.52 per share, for a total transaction of $148,702.40. Following the purchase, the director owned 15,620 shares in the company, valued at $148,702.40. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Lifesci Capital raised shares of Maplight Therapeutics to a “strong-buy” rating in a report on Thursday, May 14th. Morgan Stanley restated an “equal weight” rating and set a $21.00 target price (down from $34.00) on shares of Maplight Therapeutics in a research note on Tuesday. Raymond James Financial initiated coverage on Maplight Therapeutics in a report on Wednesday, June 24th. They set a “strong-buy” rating and a $46.00 price target on the stock. Craig Hallum restated a “buy” rating and issued a $25.00 price objective on shares of Maplight Therapeutics in a research report on Tuesday. Finally, Stifel Nicolaus upped their price objective on Maplight Therapeutics from $28.00 to $36.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Four analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Maplight Therapeutics currently has an average rating of “Buy” and an average target price of $34.42.

Maplight Therapeutics News Summary

Here are the key news stories impacting Maplight Therapeutics this week:

• Positive Sentiment: Director Troy Cox purchased 15,620 MPLT shares at an average price of $9.52, investing approximately $148,700. The open-market purchase may signal insider confidence following the sharp decline. Maplight Director Insider Purchase
• Positive Sentiment: The twice-daily 210/3 mg dose of ML-007C-MA met the ZEPHYR trial’s primary endpoint, showing statistically significant improvement in total PANSS scores versus placebo, along with reported benefits in cognition and positive symptoms. Maplight plans another trial and an FDA End-of-Phase 2 meeting. Maplight ZEPHYR Trial Results
• Positive Sentiment: Analysts continue to see potential upside despite lowering expectations. HC Wainwright kept a “buy” rating with a $26 target, while Morgan Stanley reaffirmed “equal weight” with a $21 target; both targets are above recent trading levels. Maplight Analyst Ratings
• Neutral Sentiment: The successful twice-daily dose preserves a possible development path, but Maplight will likely need confirmatory data before seeking approval. The company’s clinical-stage status also leaves valuation heavily dependent on future trial outcomes.
• Negative Sentiment: The once-daily arm failed to achieve statistically significant symptom improvement. Investors viewed the result as a major setback because a more convenient once-daily treatment could have improved adoption and commercial potential, wiping out more than $1 billion in market value during the selloff. Maplight Once-Daily Trial Report
• Negative Sentiment: HC Wainwright cut its price target from $45 to $26, and Morgan Stanley reduced its target from $34 to $21. The cuts indicate that analysts now assign less value to the program despite retaining generally constructive ratings.
• Negative Sentiment: A law firm announced an investor fraud investigation opportunity related to Maplight. The notice does not establish wrongdoing, but it adds legal and reputational uncertainty to an already unsettled stock. Maplight Investor Investigation Notice

Maplight Therapeutics Price Performance

The stock has a market cap of $643.82 million and a PE ratio of -0.37. The stock has a 50-day moving average price of $31.54 and a two-hundred day moving average price of $25.00.

Maplight Therapeutics (NASDAQ:MPLT) last released its quarterly earnings results on Thursday, May 14th. The company reported ($1.34) earnings per share for the quarter, missing the consensus estimate of ($0.91) by ($0.43). Equities research analysts expect that Maplight Therapeutics, Inc. will post -5.13 earnings per share for the current year.

Institutional Trading of Maplight Therapeutics

Large investors have recently made changes to their positions in the business. Strs Ohio purchased a new position in shares of Maplight Therapeutics in the 4th quarter worth approximately $53,000. Bank of New York Mellon Corp increased its position in shares of Maplight Therapeutics by 10.1% during the 1st quarter. Bank of New York Mellon Corp now owns 39,465 shares of the company’s stock valued at $802,000 after purchasing an additional 3,608 shares during the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new stake in Maplight Therapeutics during the 4th quarter valued at $70,000. New York State Common Retirement Fund bought a new stake in Maplight Therapeutics in the fourth quarter worth $93,000. Finally, MetLife Investment Management LLC bought a new stake in Maplight Therapeutics in the fourth quarter worth $172,000.

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.