Maze Therapeutics (NASDAQ:MAZE) Shares Gap Up - Here's What Happened

Key Points

• Maze Therapeutics shares surged from a closing price of $16.02 to an opening price of $21.10, with a latest share price of $24.42, reflecting a significant increase in trading volume.
• Recent analyst coverage has resulted in a consensus rating of "Buy" for Maze Therapeutics, with price targets ranging from $17.00 to $34.00, indicating strong market confidence.
• Several hedge funds have increased their stakes in Maze Therapeutics, including notable increases from Legal & General Group Plc and Tower Research Capital LLC, indicating strong institutional interest.

Shares of Maze Therapeutics, Inc. (NASDAQ:MAZE - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $16.02, but opened at $21.10. Maze Therapeutics shares last traded at $24.42, with a volume of 1,030,535 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MAZE shares. Wedbush started coverage on Maze Therapeutics in a report on Tuesday, July 8th. They issued an "outperform" rating and a $17.00 price objective for the company. BTIG Research boosted their price objective on Maze Therapeutics from $30.00 to $37.00 and gave the company a "buy" rating in a report on Friday. Wall Street Zen raised Maze Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. HC Wainwright boosted their price objective on Maze Therapeutics from $34.00 to $50.00 and gave the company a "buy" rating in a report on Friday. Finally, Guggenheim boosted their price objective on Maze Therapeutics from $19.00 to $34.00 and gave the company a "buy" rating in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating and six have issued a Buy rating to the company's stock. According to data from MarketBeat, Maze Therapeutics currently has an average rating of "Buy" and an average price target of $32.67.

Maze Therapeutics Price Performance

The business has a fifty day moving average of $15.50 and a 200 day moving average of $12.35.

Maze Therapeutics (NASDAQ:MAZE - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.77) EPS for the quarter, topping analysts' consensus estimates of ($0.79) by $0.02.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its stake in Maze Therapeutics by 33.6% during the second quarter. Bank of America Corp DE now owns 5,782 shares of the company's stock worth $71,000 after purchasing an additional 1,455 shares in the last quarter. CWM LLC acquired a new stake in shares of Maze Therapeutics in the second quarter valued at $28,000. New York State Common Retirement Fund acquired a new stake in shares of Maze Therapeutics in the first quarter valued at $25,000. Legal & General Group Plc raised its stake in shares of Maze Therapeutics by 387.0% in the second quarter. Legal & General Group Plc now owns 4,242 shares of the company's stock valued at $52,000 after acquiring an additional 3,371 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Maze Therapeutics by 452.5% in the second quarter. Tower Research Capital LLC TRC now owns 4,608 shares of the company's stock valued at $57,000 after acquiring an additional 3,774 shares in the last quarter.

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.