Maplight Therapeutics (NASDAQ:MPLT) CFO Jonathan Gillis Sells 10,167 Shares of Stock

Maplight Therapeutics, Inc. (NASDAQ:MPLT) CFO Jonathan Gillis sold 10,167 shares of Maplight Therapeutics stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $8.08, for a total transaction of $82,149.36. Following the sale, the chief financial officer directly owned 142,315 shares of the company’s stock, valued at $1,149,905.20. This represents a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Maplight Therapeutics Stock Down 4.0%

NASDAQ:MPLT traded down $0.32 during midday trading on Friday, hitting $7.70. The company had a trading volume of 359,069 shares, compared to its average volume of 479,482. Maplight Therapeutics, Inc. has a 52-week low of $7.46 and a 52-week high of $40.43. The stock’s fifty day moving average price is $11.24 and its 200-day moving average price is $22.37. The company has a market capitalization of $427.97 million and a PE ratio of -0.18.

Maplight Therapeutics (NASDAQ:MPLT) last released its quarterly earnings results on Thursday, August 13th. The company reported ($1.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.40) by $0.08. As a group, research analysts forecast that Maplight Therapeutics, Inc. will post -5.01 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MPLT shares. Jefferies Financial Group reissued a “buy” rating on shares of Maplight Therapeutics in a report on Monday, July 27th. Raymond James Financial set a $31.00 target price on Maplight Therapeutics in a research report on Friday, August 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Maplight Therapeutics in a research note on Friday, October 9th. Wolfe Research reiterated an “outperform” rating and set a $30.00 price target on shares of Maplight Therapeutics in a research report on Monday, July 27th. Finally, Needham & Company LLC reduced their price target on shares of Maplight Therapeutics from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Monday, August 31st. Four research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.50.

Institutional Trading of Maplight Therapeutics

Several hedge funds have recently added to or reduced their stakes in MPLT. Legal & General Group Plc bought a new position in shares of Maplight Therapeutics during the second quarter valued at about $37,000. The Manufacturers Life Insurance Company bought a new stake in shares of Maplight Therapeutics in the 2nd quarter valued at about $252,000. Deutsche Bank AG bought a new stake in shares of Maplight Therapeutics in the 2nd quarter valued at about $370,000. Bank of New York Mellon Corp lifted its stake in shares of Maplight Therapeutics by 10.1% in the 1st quarter. Bank of New York Mellon Corp now owns 39,465 shares of the company’s stock valued at $802,000 after acquiring an additional 3,608 shares during the last quarter. Finally, ADAR1 Capital Management LLC purchased a new stake in Maplight Therapeutics during the 2nd quarter valued at about $950,000.

Key Headlines Impacting Maplight Therapeutics

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

• Positive Sentiment: MapLight Therapeutics is described as technically oversold after falling 29.2% over four weeks, potentially creating conditions for a rebound. Wall Street analysts have also been revising earnings estimates higher, providing a possible catalyst for a trend reversal. Down 29.2% in 4 Weeks, Here’s Why You Should You Buy the Dip in MapLight Therapeutics
• Neutral Sentiment: CEO Christopher Kroeger sold 73,691 shares for approximately $595,423, while CFO Jonathan Gillis sold 10,167 shares for approximately $82,149. Both executives retained substantial holdings, and the filings said the sales covered tax obligations tied to equity vesting. CEO Form 4 Filing CFO Form 4 Filing
• Negative Sentiment: Additional insiders Erin Pennock Foff, James Lillie and Anatol Kreitzer sold a combined 39,116 shares for roughly $313,118. Although these were also tax-withholding transactions, the cluster of insider selling can weigh on sentiment and add perceived supply pressure. Erin Pennock Foff Form 4 Filing James Lillie Form 4 Filing Anatol Kreitzer Form 4 Filing

About Maplight Therapeutics

MapLight Therapeutics is a clinical-stage biopharmaceutical company developing medicines for neuropsychiatric and neurological disorders. The company focuses on conditions for which existing treatments may provide limited benefits or cause significant side effects.

MapLight uses a neuroscience-focused drug discovery and development approach to identify therapies intended to address the underlying biology of central nervous system disorders. Its pipeline includes investigational small-molecule treatments being studied for conditions such as schizophrenia and other serious mental health disorders.

The company conducts research and clinical development in the United States.