Canaccord Genuity Group Initiates Coverage on Maze Therapeutics (NASDAQ:MAZE)

Key Points

• Canaccord Genuity initiated coverage of Maze Therapeutics with a “buy” rating and a $75 price target, implying 152.5% upside from the stock’s $29.70 opening price. Analysts overall maintain a consensus “Buy” rating with an average target of $64.45.
• Maze reported quarterly EPS of -$0.76, in line with expectations, while analysts project full-year EPS of approximately -$2.70. The clinical-stage biotechnology company is developing precision medicines for genetic diseases, including its lead Pompe disease candidate MZE001.
• Institutional investors made significant purchases, including new stakes by ARCH Venture Management, Alphabet, TRV GP IV and Jupiter Topco, while insiders sold 192,991 shares worth about $5.15 million over the past 90 days under pre-arranged trading plans.

Equities researchers at Canaccord Genuity Group assumed coverage on shares of Maze Therapeutics (NASDAQ:MAZE - Get Free Report) in a research note issued on Monday, Marketbeat reports. The firm set a "buy" rating and a $75.00 price target on the stock. Canaccord Genuity Group's price target would indicate a potential upside of 152.53% from the company's current price.

Several other equities analysts have also recently weighed in on MAZE. TD Cowen upgraded shares of Maze Therapeutics to a "strong-buy" rating in a research report on Monday, August 24th. Wedbush restated an "outperform" rating and issued a $48.00 target price on shares of Maze Therapeutics in a report on Wednesday, September 23rd. Wall Street Zen cut Maze Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. HC Wainwright reiterated a "buy" rating and set a $110.00 price target on shares of Maze Therapeutics in a report on Thursday, September 24th. Finally, BTIG Research reissued a "buy" rating and set a $46.00 price target on shares of Maze Therapeutics in a research report on Tuesday, September 22nd. Four research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Maze Therapeutics has a consensus rating of "Buy" and an average target price of $64.45.

Maze Therapeutics Price Performance

MAZE stock opened at $29.70 on Monday. The company has a current ratio of 18.31, a quick ratio of 18.31 and a debt-to-equity ratio of 0.09. Maze Therapeutics has a one year low of $21.95 and a one year high of $53.65. The firm has a market capitalization of $1.65 billion, a PE ratio of -11.79 and a beta of 2.16. The firm has a 50-day moving average of $26.81 and a two-hundred day moving average of $27.01.

Maze Therapeutics (NASDAQ:MAZE - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported ($0.76) EPS for the quarter, hitting the consensus estimate of ($0.76). On average, analysts forecast that Maze Therapeutics will post -2.70 earnings per share for the current year.

Insider Activity at Maze Therapeutics

In other Maze Therapeutics news, insider Atul Dandekar sold 7,500 shares of Maze Therapeutics stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $27.06, for a total transaction of $202,950.00. Following the completion of the sale, the insider owned 32,316 shares of the company's stock, valued at $874,470.96. This trade represents a 18.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Harold Bernstein sold 16,141 shares of the business's stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $26.93, for a total transaction of $434,677.13. Following the transaction, the chief marketing officer owned 16,141 shares in the company, valued at approximately $434,677.13. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 192,991 shares of company stock valued at $5,152,084 over the last ninety days. 5.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. ARCH Venture Management LLC acquired a new position in Maze Therapeutics in the 2nd quarter worth about $122,983,582. Alphabet Inc. acquired a new stake in shares of Maze Therapeutics during the 2nd quarter valued at about $41,435,000. TRV GP IV LLC acquired a new stake in shares of Maze Therapeutics during the 2nd quarter valued at about $133,502,907. Frazier Life Sciences Management L.P. grew its stake in shares of Maze Therapeutics by 10.2% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 5,032,915 shares of the company's stock valued at $150,182,000 after buying an additional 465,641 shares in the last quarter. Finally, Jupiter Topco LLC bought a new stake in shares of Maze Therapeutics in the 2nd quarter valued at approximately $101,764,000.

About Maze Therapeutics

Maze Therapeutics is a clinical-stage biopharmaceutical company focused on developing precision medicines for genetic diseases. The company uses human genetics and its Maze Compass platform to identify disease-causing biological mechanisms and design small-molecule therapies intended to address the underlying drivers of disease.

Maze's pipeline includes MZE001, an investigational oral therapy designed to inhibit glycogen synthase as a potential treatment for Pompe disease, a rare inherited disorder in which glycogen accumulates in muscles.