Maze Therapeutics (NASDAQ:MAZE) Stock Rated “Buy” in New Coverage at Canaccord Genuity Group

Stock analysts at Canaccord Genuity Group initiated coverage on shares of Maze Therapeutics (NASDAQ:MAZE) in a note issued to investors on Monday, MarketBeat reports. The brokerage set a “buy” rating and a $75.00 price target on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 152.53% from the company’s previous close.

Several other research firms have also weighed in on MAZE. Wall Street Zen lowered Maze Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. HC Wainwright reiterated a “buy” rating and set a $110.00 price target on shares of Maze Therapeutics in a report on Thursday, September 24th. Citigroup initiated coverage on shares of Maze Therapeutics in a research report on Wednesday, September 23rd. They issued a “buy” rating and a $50.00 price target on the stock. TD Cowen upgraded shares of Maze Therapeutics to a “strong-buy” rating in a research note on Monday, August 24th. Finally, Wedbush restated an “outperform” rating and issued a $48.00 price objective on shares of Maze Therapeutics in a research note on Wednesday, September 23rd. Four analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $64.45.

Maze Therapeutics Price Performance

Shares of NASDAQ:MAZE opened at $29.70 on Monday. Maze Therapeutics has a fifty-two week low of $21.95 and a fifty-two week high of $53.65. The business has a 50-day moving average of $26.81 and a two-hundred day moving average of $27.01. The stock has a market capitalization of $1.65 billion, a P/E ratio of -11.79 and a beta of 2.16. The company has a debt-to-equity ratio of 0.09, a current ratio of 18.31 and a quick ratio of 18.31.

Maze Therapeutics (NASDAQ:MAZE) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.76) EPS for the quarter, meeting analysts’ consensus estimates of ($0.76). On average, equities research analysts predict that Maze Therapeutics will post -2.70 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Atul Dandekar sold 7,500 shares of the stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $27.06, for a total transaction of $202,950.00. Following the completion of the sale, the insider owned 32,316 shares in the company, valued at $874,470.96. This represents a 18.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Courtney Phillips sold 2,012 shares of the stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $26.01, for a total value of $52,332.12. Following the sale, the insider owned 7,007 shares of the company’s stock, valued at approximately $182,252.07. The trade was a 22.31% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 192,991 shares of company stock valued at $5,152,084. 5.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC lifted its holdings in shares of Maze Therapeutics by 42.8% during the second quarter. Squarepoint Ops LLC now owns 19,434 shares of the company’s stock worth $580,000 after buying an additional 5,822 shares during the last quarter. Frazier Life Sciences Management L.P. boosted its position in shares of Maze Therapeutics by 10.2% in the second quarter. Frazier Life Sciences Management L.P. now owns 5,032,915 shares of the company’s stock valued at $150,182,000 after acquiring an additional 465,641 shares during the period. AXQ Capital LP boosted its position in shares of Maze Therapeutics by 114.1% in the second quarter. AXQ Capital LP now owns 15,193 shares of the company’s stock valued at $453,000 after acquiring an additional 8,098 shares during the period. Braidwell LP acquired a new stake in shares of Maze Therapeutics in the second quarter worth $34,019,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Maze Therapeutics by 4,054.3% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,739 shares of the company’s stock worth $529,000 after acquiring an additional 17,312 shares during the last quarter.

About Maze Therapeutics

Maze Therapeutics is a clinical-stage biopharmaceutical company focused on developing precision medicines for genetic diseases. The company uses human genetics and its Maze Compass platform to identify disease-causing biological mechanisms and design small-molecule therapies intended to address the underlying drivers of disease.

Maze’s pipeline includes MZE001, an investigational oral therapy designed to inhibit glycogen synthase as a potential treatment for Pompe disease, a rare inherited disorder in which glycogen accumulates in muscles.