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Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow


0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -30%
Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0
1 Megatrend and thematic drivers
Megatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Genetics-based Drug Discovery, Targeted Therapies, Show more.
Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -135 Mil
2  Stock price has recently run up significantly
6M Rtn6 month market price return is 199%
3  Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is null, Rev Chg QQuarterly Revenue Change % is null
4  Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -15%
0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -30%
1 Megatrend and thematic drivers
Megatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Genetics-based Drug Discovery, Targeted Therapies, Show more.
2 Very low revenue
Rev LTMTotal Revenue or Sales, Last Twelve Months is 0
3 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -135 Mil
4 Stock price has recently run up significantly
6M Rtn6 month market price return is 199%
5 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is null, Rev Chg QQuarterly Revenue Change % is null
6 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -15%

Valuation, Metrics & Events

MAZE Stock


Why The Stock Moved


Qualitative Assessment

AI Generated Analysis | Feedback

Here are the key points explaining the 186% stock movement for Maze Therapeutics (MAZE) from August 31, 2025, to December 4, 2025:

1. Positive Phase 1 Clinical Trial Results for MZE782 and Advancement to Phase 2. Maze Therapeutics announced positive first-in-human results in September 2025 from its Phase 1 clinical trial for MZE782, an oral inhibitor being developed for phenylketonuria (PKU) and chronic kidney disease (CKD). The results indicated that MZE782 was well-tolerated across all doses and demonstrated dose-dependent increases in phenylalanine and glutamine excretion, confirming target engagement and SLC6A19 inhibition. An initial eGFR dip, similar to other kidney-protective drugs, was also observed, suggesting a potential benefit in CKD. Following these promising results, Maze plans to initiate two Phase 2 proof-of-concept trials for MZE782 in PKU and CKD in 2026.

2. Oversubscribed $150 Million Private Placement. On September 11, 2025, Maze Therapeutics announced the successful completion of an oversubscribed private placement, raising approximately $150.0 million in gross proceeds. This strategic financial move significantly strengthened the company's balance sheet, providing a robust cash position of $383.9 million as of September 30, 2025, which is expected to fund operations into 2028.

Show more

Stock Movement Drivers

Return vs. Risk


Price Returns Compared

 202020212022202320242025Total [1]
Returns
MAZE Return------ 
Peers Return2%-1%6%8%-0%2%17%
S&P 500 Return16%27%-19%24%23%16%112%

Monthly Win Rates [3]
MAZE Win Rate-----56% 
Peers Win Rate13%8%13%12%10%90% 
S&P 500 Win Rate58%75%42%67%75%70% 

Max Drawdowns [4]
MAZE Max Drawdown------ 
Peers Max Drawdown-2%-5%0%-0%-1%-2% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 


[1] Cumulative total returns since the beginning of 2020
[2] Peers: VRTX, AIXC, ALPS, BBOT, EVMN.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/3/2025 (YTD)

How Low Can It Go

MAZE has limited trading history. Below is the Health Care sector ETF (XLV) in its place.

Unique KeyEventXLVS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-16.1%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven19.1%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven599 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-28.8%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven40.4%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven116 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-15.8%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven18.8%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven326 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-40.6%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven68.3%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven1100 days1480 days

Compare to


In The Past

SPDR Select Sector Fund's stock fell -16.1% during the 2022 Inflation Shock from a high on 4/8/2022. A -16.1% loss requires a 19.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

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About Maze Therapeutics (MAZE)

Better Bets than Maze Therapeutics (MAZE)

Latest Trefis Analyses

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Trade Ideas

Select past ideas related to MAZE. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
CRL_11142025_Dip_Buyer_FCFYield11142025CRLCharles River Laboratories InternationalDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
4.1%4.1%-3.7%
GDRX_11142025_Dip_Buyer_High_CFO_Margins_ExInd_DE11142025GDRXGoodRxDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
-9.8%-9.8%-11.8%
ASTH_11142025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG11142025ASTHAstrana HealthDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
6.0%6.0%-5.5%
SGRY_11142025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG11142025SGRYSurgery PartnersDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
9.7%9.7%-1.4%
TFX_11072025_Dip_Buyer_FCFYield11072025TFXTeleflexDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
6.2%6.2%-5.1%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
CRL_11142025_Dip_Buyer_FCFYield11142025CRLCharles River Laboratories InternationalDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
4.1%4.1%-3.7%
GDRX_11142025_Dip_Buyer_High_CFO_Margins_ExInd_DE11142025GDRXGoodRxDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
-9.8%-9.8%-11.8%
ASTH_11142025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG11142025ASTHAstrana HealthDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
6.0%6.0%-5.5%
SGRY_11142025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG11142025SGRYSurgery PartnersDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
9.7%9.7%-1.4%
TFX_11072025_Dip_Buyer_FCFYield11072025TFXTeleflexDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
6.2%6.2%-5.1%

Recent Active Movers

Recent Active Movers

More From Trefis

Peer Comparisons for Maze Therapeutics

Peers to compare with:

Financials

MAZEVRTXAIXCALPSBBOTEVMNMedian
NameMaze The.Vertex P.AIxCryptoALPS BridgeBi.Evommune  
Mkt Price41.49463.132.541.0711.0721.2216.14
Mkt Cap1.9118.4----60.1
Rev LTM011,7230-0100
Op Inc LTM-135-92-5--93-70-92
FCF LTM-1083,337-6--60-64-60
FCF 3Y Avg-2,064-10---1,027
CFO LTM-1073,718-6--60-64-60
CFO 3Y Avg-2,419-10---1,204

Growth & Margins

MAZEVRTXAIXCALPSBBOTEVMNMedian
NameMaze The.Vertex P.AIxCryptoALPS BridgeBi.Evommune  
Rev Chg LTM-100.0%10.3%-----44.8%
Rev Chg 3Y Avg-10.5%----10.5%
Rev Chg Q-100.0%11.0%-----44.5%
QoQ Delta Rev Chg LTM-100.0%2.7%-----48.7%
Op Mgn LTM--0.8%----700.7%-350.7%
Op Mgn 3Y Avg-26.2%----26.2%
QoQ Delta Op Mgn LTM-1.0%----1.0%
CFO/Rev LTM-31.7%----635.6%-302.0%
CFO/Rev 3Y Avg-23.1%----23.1%
FCF/Rev LTM-28.5%----636.5%-304.0%
FCF/Rev 3Y Avg-19.8%----19.8%

Valuation

MAZEVRTXAIXCALPSBBOTEVMNMedian
NameMaze The.Vertex P.AIxCryptoALPS BridgeBi.Evommune  
Mkt Cap1.9118.4----60.1
P/S-8.5----8.5
P/EBIT-8.822.4----6.8
P/E-9.427.2----8.9
P/CFO-11.126.9----7.9
Total Yield-10.6%3.7%-----3.5%
Dividend Yield0.0%0.0%----0.0%
FCF Yield 3Y Avg-2.3%----2.3%
D/E0.00.0----0.0
Net D/E-0.3-0.0-----0.2

Returns

MAZEVRTXAIXCALPSBBOTEVMNMedian
NameMaze The.Vertex P.AIxCryptoALPS BridgeBi.Evommune  
1M Rtn24.8%8.7%---9.9%-8.7%
3M Rtn173.1%16.8%--12.5%-16.8%
6M Rtn199.1%3.9%----101.5%
12M Rtn-1.3%----1.3%
3Y Rtn-44.1%----44.1%
1M Excs Rtn24.9%8.7%---9.9%-8.7%
3M Excs Rtn170.5%11.3%--4.5%-11.3%
6M Excs Rtn184.4%-10.8%----86.8%
12M Excs Rtn--14.6%-----14.6%
3Y Excs Rtn--25.9%-----25.9%

Financials

Price Behavior

Short Interest

Short Interest: As Of Date11142025
Short Interest: Shares Quantity2,438,054
Short Interest: % Change Since 103120253.1%
Average Daily Volume449,162
Days-to-Cover Short Interest5.43
Basic Shares Quantity45,779,577
Short % of Basic Shares5.3%

SEC Filings

Expand for More

Report DateFiling DateFiling
93020251106202510-Q 9/30/2025
6302025812202510-Q 6/30/2025
3312025514202510-Q 3/31/2025
12312024331202510-K 12/31/2024
63020249132024DRS/A 6/30/2024
123120231312025424B4 12/31/2023