Maplight Therapeutics (NASDAQ:MPLT) Shares Gap Up After Insider Buying Activity

Maplight Therapeutics, Inc. (NASDAQ:MPLT) gapped up prior to trading on Monday after an insider bought additional shares in the company. The stock had previously closed at $17.88, but opened at $18.87. Maplight Therapeutics shares last traded at $19.93, with a volume of 101,257 shares changing hands.

Specifically, Director George Pavlov acquired 9,920 shares of the firm’s stock in a transaction dated Friday, February 20th. The shares were purchased at an average cost of $17.86 per share, for a total transaction of $177,171.20. Following the transaction, the director directly owned 25,000 shares of the company’s stock, valued at approximately $446,500. This trade represents a 65.78% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director George Pavlov bought 4,422 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The stock was purchased at an average cost of $17.57 per share, with a total value of $77,694.54. Following the acquisition, the director directly owned 15,080 shares in the company, valued at $264,955.60. This trade represents a 41.49% increase in their position. The disclosure for this purchase is available in the SEC filing. In other Maplight Therapeutics news, Director George Pavlov purchased 10,658 shares of the firm’s stock in a transaction on Wednesday, February 18th. The shares were acquired at an average cost of $17.48 per share, with a total value of $186,301.84. Following the completion of the acquisition, the director directly owned 10,658 shares in the company, valued at $186,301.84. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on MPLT shares. Wall Street Zen raised Maplight Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, December 20th. Leerink Partners began coverage on Maplight Therapeutics in a research note on Friday, November 21st. They issued an “outperform” rating and a $30.00 price target for the company. Zacks Research raised shares of Maplight Therapeutics to a “hold” rating in a report on Monday, November 24th. Jefferies Financial Group initiated coverage on shares of Maplight Therapeutics in a report on Friday, November 21st. They issued a “buy” rating and a $32.00 target price on the stock. Finally, Stifel Nicolaus began coverage on shares of Maplight Therapeutics in a research report on Friday, November 21st. They set a “buy” rating and a $28.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

Maplight Therapeutics Stock Down 1.5%

The company has a market cap of $817.57 million and a price-to-earnings ratio of -0.48. The business’s 50-day moving average is $17.83.

Maplight Therapeutics (NASDAQ:MPLT) last released its earnings results on Thursday, December 4th. The company reported ($37.18) earnings per share for the quarter, missing the consensus estimate of ($1.86) by ($35.32).

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Strs Ohio bought a new stake in shares of Maplight Therapeutics in the 4th quarter worth about $53,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Maplight Therapeutics in the 4th quarter worth about $70,000. New York State Common Retirement Fund bought a new stake in Maplight Therapeutics in the fourth quarter worth about $93,000. MetLife Investment Management LLC bought a new stake in Maplight Therapeutics in the fourth quarter worth about $172,000. Finally, Walleye Capital LLC purchased a new position in shares of Maplight Therapeutics during the fourth quarter valued at approximately $205,000.

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.