Maze Therapeutics (NASDAQ:MAZE) Trading Up 7.5% - Here's What Happened

Key Points

• Maze Therapeutics stock surged by 7.5% during mid-day trading, reaching a high of $16.28 before closing at $16.10.
• Brokerages have raised their outlook on Maze Therapeutics, with ratings upgraded to "hold," "buy," and a consensus target price of $26.33.
• Several hedge funds acquired substantial new positions in Maze Therapeutics, including TRV GP IV LLC, which invested $66.87 million.

Maze Therapeutics, Inc. (NASDAQ:MAZE - Get Free Report)'s stock price shot up 7.5% during mid-day trading on Tuesday . The company traded as high as $16.28 and last traded at $16.10. 221,646 shares were traded during mid-day trading, an increase of 1% from the average session volume of 220,163 shares. The stock had previously closed at $14.97.

Analyst Ratings Changes

A number of brokerages recently issued reports on MAZE. Wall Street Zen raised shares of Maze Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. BTIG Research began coverage on shares of Maze Therapeutics in a research note on Tuesday, September 2nd. They issued a "buy" rating and a $30.00 price objective on the stock. Wedbush began coverage on shares of Maze Therapeutics in a research note on Tuesday, July 8th. They issued an "outperform" rating and a $17.00 price objective on the stock. Finally, HC Wainwright began coverage on shares of Maze Therapeutics in a research note on Wednesday, July 23rd. They issued a "buy" rating and a $34.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $26.33.

Maze Therapeutics Stock Performance

The business's 50 day simple moving average is $14.60 and its two-hundred day simple moving average is $12.03.

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

Hedge Funds Weigh In On Maze Therapeutics

A number of hedge funds have recently modified their holdings of MAZE. TRV GP IV LLC acquired a new position in shares of Maze Therapeutics during the first quarter worth $66,874,000. Frazier Life Sciences Management L.P. acquired a new position in shares of Maze Therapeutics during the first quarter worth $45,460,000. ARCH Venture Management LLC acquired a new position in shares of Maze Therapeutics during the first quarter worth $45,362,000. Matrix Capital Management Company LP acquired a new position in shares of Maze Therapeutics during the first quarter worth $27,373,000. Finally, Alphabet Inc. acquired a new position in shares of Maze Therapeutics during the first quarter worth $26,561,000.

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.

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