Maze Therapeutics (NASDAQ:MAZE) Shares Up 7.5% - Here's Why

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 share price traded up 7.5% on Tuesday . The company traded as high as $16.28 and last traded at $16.10. 221,646 shares traded hands during 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 research analysts have recently weighed in on the company. HC Wainwright raised their price objective on Maze Therapeutics from $34.00 to $50.00 and gave the company a "buy" rating in a research report on Friday. Wedbush assumed coverage on shares of Maze Therapeutics in a report on Tuesday, July 8th. They issued an "outperform" rating and a $17.00 price target for the company. Wall Street Zen raised shares of Maze Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Finally, BTIG Research increased their price target on shares of Maze Therapeutics from $30.00 to $37.00 and gave the company a "buy" rating in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $30.17.

Maze Therapeutics Price Performance

The company's 50 day simple moving average is $15.28 and its 200-day simple moving average is $12.28.

Maze Therapeutics (NASDAQ:MAZE - Get Free Report) last announced 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.

Institutional Trading of Maze Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. New York State Common Retirement Fund bought a new stake in shares of Maze Therapeutics during the first quarter valued at approximately $25,000. CWM LLC bought a new stake in shares of Maze Therapeutics during the second quarter valued at approximately $28,000. Corebridge Financial Inc. bought a new stake in shares of Maze Therapeutics during the first quarter valued at approximately $48,000. Legal & General Group Plc raised its stake in shares of Maze Therapeutics by 387.0% during 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% during 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.