Maze Therapeutics (NASDAQ:MAZE) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Key Points

• Maze Therapeutics reported a quarterly EPS of ($0.77), exceeding expectations by $0.02.
• After the earnings announcement, the stock increased by $0.27 to reach a trading price of $13.74.
• Several institutional investors have recently increased their stakes in Maze Therapeutics, indicating growing interest in the company.

Maze Therapeutics (NASDAQ:MAZE - Get Free Report) issued its earnings results on Tuesday. The company reported ($0.77) EPS for the quarter, topping the consensus estimate of ($0.79) by $0.02, Zacks reports.

Maze Therapeutics Stock Performance

Shares of MAZE traded up $0.27 during trading hours on Tuesday, hitting $13.74. 99,702 shares of the stock were exchanged, compared to its average volume of 201,002. Maze Therapeutics has a 12-month low of $6.71 and a 12-month high of $19.19. The stock has a 50-day moving average price of $13.92.

Hedge Funds Weigh In On Maze Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc grew its holdings in shares of Maze Therapeutics by 387.0% during the 2nd quarter. Legal & General Group Plc now owns 4,242 shares of the company's stock worth $52,000 after purchasing an additional 3,371 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Maze Therapeutics during the 1st quarter worth $57,000. Rhumbline Advisers purchased a new position in shares of Maze Therapeutics during the 1st quarter worth $80,000. Goldman Sachs Group Inc. purchased a new position in shares of Maze Therapeutics during the 1st quarter worth $145,000. Finally, Geode Capital Management LLC grew its holdings in shares of Maze Therapeutics by 8.8% during the 2nd quarter. Geode Capital Management LLC now owns 231,237 shares of the company's stock worth $2,838,000 after purchasing an additional 18,773 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. HC Wainwright assumed coverage on shares of Maze Therapeutics in a report on Wednesday, July 23rd. They issued a "buy" rating and a $34.00 price objective on the stock. Wedbush started coverage on shares of Maze Therapeutics in a report on Tuesday, July 8th. They set an "outperform" rating and a $17.00 price objective for the company. Five investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $25.60.

About Maze Therapeutics

We are a clinical-stage biopharmaceutical company harnessing the power of human genetics to develop novel, small molecule precision medicines for patients living with renal, cardiovascular and related metabolic diseases, including obesity. We are advancing a pipeline using our Compass platform, which allows us to identify and characterize genetic variants in disease and then link those variants to the biological pathways that drive disease in specific patient groups through a process we refer to as variant functionalization.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.