Maplight Therapeutics (NASDAQ:MPLT) Shares Up 7.8% – Here’s Why

Maplight Therapeutics, Inc. (NASDAQ:MPLT) shot up 7.8% during trading on Tuesday . The stock traded as high as $11.96 and last traded at $12.2430. Approximately 185,395 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 459,359 shares. The stock had previously closed at $11.36.

Analyst Ratings Changes

Several brokerages have recently weighed in on MPLT. Jefferies Financial Group restated a “buy” rating on shares of Maplight Therapeutics in a report on Monday, July 27th. Wall Street Zen raised Maplight Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Morgan Stanley reaffirmed an “equal weight” rating and set a $21.00 price target (down from $34.00) on shares of Maplight Therapeutics in a research report on Tuesday, July 28th. UBS Group downgraded Maplight Therapeutics from a “buy” rating to a “neutral” rating and cut their price objective for the company from $52.00 to $13.00 in a report on Monday, August 10th. Finally, Raymond James Financial set a $31.00 price target on Maplight Therapeutics in a report on Friday, August 14th. Four analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $29.67.

Maplight Therapeutics Price Performance

The stock has a market capitalization of $579.89 million and a P/E ratio of -0.30. The stock’s 50-day simple moving average is $25.24 and its 200 day simple moving average is $24.25.

Maplight Therapeutics (NASDAQ:MPLT) last announced its earnings results on Thursday, August 13th. The company reported ($1.32) EPS for the quarter, topping the consensus estimate of ($1.40) by $0.08. As a group, analysts expect that Maplight Therapeutics, Inc. will post -5.12 earnings per share for the current fiscal year.

Insider Activity at Maplight Therapeutics

In other news, insider James Woodruff Lillie sold 22,082 shares of Maplight Therapeutics stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $12.54, for a total transaction of $276,908.28. Following the completion of the sale, the insider owned 202,380 shares of the company’s stock, valued at approximately $2,537,845.20. This trade represents a 9.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Troy Cox bought 15,620 shares of Maplight Therapeutics stock in a transaction dated Tuesday, July 28th. The stock was acquired at an average cost of $9.52 per share, with a total value of $148,702.40. Following the transaction, the director owned 15,620 shares of the company’s stock, valued at $148,702.40. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 3.80% of the company’s stock.

Institutional Trading of Maplight Therapeutics

A number of institutional investors have recently bought and sold shares of MPLT. Legal & General Group Plc bought a new position in shares of Maplight Therapeutics during the second quarter worth approximately $37,000. Strs Ohio acquired a new stake in Maplight Therapeutics during the fourth quarter worth approximately $53,000. Bank of New York Mellon Corp increased its stake in 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 worth $802,000 after acquiring an additional 3,608 shares during the period. Police & Firemen s Retirement System of New Jersey acquired a new position in Maplight Therapeutics in the 4th quarter valued at $70,000. Finally, California State Teachers Retirement System grew its holdings in shares of Maplight Therapeutics by 386.0% during the 2nd quarter. California State Teachers Retirement System now owns 5,161 shares of the company’s stock worth $185,000 after purchasing an additional 4,099 shares in the last quarter.

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.