Maze Therapeutics (NASDAQ:MAZE) Reaches New 52-Week High - Here's Why

Key Points

• Maze Therapeutics' stock price reached a new 52-week high of $26.63 on Wednesday, significantly up from its previous closing price of $24.88.
• Analysts are optimistic, with BTIG Research raising their price target from $30.00 to $37.00 and HC Wainwright setting a price objective of $50.00, resulting in a consensus rating of "Buy."
• Recently, hedge funds have shown interest, with Alphabet Inc. investing over $26 million in Maze Therapeutics during the first quarter of the year.

Maze Therapeutics, Inc. (NASDAQ:MAZE - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $26.63 and last traded at $26.41, with a volume of 93066 shares traded. The stock had previously closed at $24.88.

Analyst Upgrades and Downgrades

MAZE has been the topic of a number of research reports. BTIG Research raised their price target on Maze Therapeutics from $30.00 to $37.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. HC Wainwright reaffirmed a "buy" rating and set a $50.00 price objective on shares of Maze Therapeutics in a research report on Thursday, September 18th. Wall Street Zen raised Maze Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Guggenheim increased their price objective on Maze Therapeutics from $19.00 to $34.00 and gave the stock a "buy" rating in a research report on Monday, September 15th. Finally, Wedbush initiated coverage on Maze Therapeutics in a research report on Tuesday, July 8th. They set an "outperform" rating and a $17.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the stock. According to data from MarketBeat, Maze Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $32.67.

Maze Therapeutics Trading Up 6.4%

The firm has a fifty day moving average of $16.49 and a 200-day moving average of $12.85.

Maze Therapeutics (NASDAQ:MAZE - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.77) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.79) by $0.02.

Insiders Place Their Bets

In other Maze Therapeutics news, Director Richard H. Scheller sold 20,744 shares of the firm's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $22.37, for a total transaction of $464,043.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hedge Funds Weigh In On Maze Therapeutics

Hedge funds have recently bought and sold shares of the stock. Alphabet Inc. purchased a new position in Maze Therapeutics during the first quarter worth $26,561,000. Invesco Ltd. purchased a new stake in shares of Maze Therapeutics in the first quarter valued at $226,000. Bank of New York Mellon Corp purchased a new stake in shares of Maze Therapeutics in the first quarter valued at $190,000. Nuveen LLC purchased a new stake in shares of Maze Therapeutics in the first quarter valued at $125,000. Finally, Octagon Capital Advisors LP purchased a new stake in shares of Maze Therapeutics in the first quarter valued at $5,153,000.

Maze Therapeutics Company Profile

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.

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