Maze Therapeutics (MAZE)


Market Price (10/21/2026): $32.45 | Market Cap: $1.9 BilSector: Health Care | Industry: Biotechnology

Maze Therapeutics (MAZE)


Market Price (10/21/2026): $32.45
Market Cap: $1.9 Bil
Sector: Health Care
Industry: Biotechnology

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

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 -20%

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 700%

Megatrend and thematic drivers
Megatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Genetics-based Drug Discovery, Targeted Therapies, Show more.

Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11%

Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -146 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -728%

Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 131%

Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -533%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -534%

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 -12%

Key risks
MAZE key risks include [1] its heavy dependence on the clinical and commercial success of its limited lead candidates, Show more.

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 -20%
1 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 700%
2 Megatrend and thematic drivers
Megatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Genetics-based Drug Discovery, Targeted Therapies, Show more.
3 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11%
4 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -146 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -728%
5 Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 131%
6 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -533%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -534%
7 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 -12%
8 Key risks
MAZE key risks include [1] its heavy dependence on the clinical and commercial success of its limited lead candidates, Show more.

MAZE in ETFs

Weight = MAZE's share of each fund

VTI0.00%
ITOT0.00%
IWM0.03%
IBB0.07%
IWO0.06%
VTWO0.03%
SCHA0.03%
NUSC0.02%
+7 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 10/20/2026

Maze Therapeutics (MAZE) stock has gained about 10% since 6/30/2026 because of the following key factors:

1. Strong Fiscal Q2 2026 Financial Results and Clinical Pipeline Progress.

Maze Therapeutics reported robust financial health in its Q2 2026 financial results on August 11, 2026, with $495 million in cash, cash equivalents, and marketable securities, extending its projected cash runway into fiscal 2029. Concurrently, the company provided positive updates on its clinical development, including sustained enrollment in the Phase 2 HORIZON trial for MZE829 and the successful initiation of the Phase 2 CIPheR trial for MZE782 in phenylketonuria.

2. Favorable Analyst Coverage Initiation and Upgrades with High Price Targets.

In October 2026, Maze Therapeutics received significant positive attention from financial analysts. Canaccord Genuity initiated coverage on October 19, 2026, with a "Buy" rating and a price target of $75.00, citing the strong potential of MZE829 for kidney disease and the company's broader pipeline. On the same day, Zacks.com upgraded Maze Therapeutics to a Zacks Rank #2 (Buy), reflecting an upward trend in earnings estimates. The average 12-month price target from analysts stands at $61.50, indicating substantial upside potential.

Show more
Updated on 10/20/2026

Maze Therapeutics (MAZE) stock has gained about 10% since 6/30/2026 because of the following key factors:

1. Strong Fiscal Q2 2026 Financial Results and Clinical Pipeline Progress.

Maze Therapeutics reported robust financial health in its Q2 2026 financial results on August 11, 2026, with $495 million in cash, cash equivalents, and marketable securities, extending its projected cash runway into fiscal 2029. Concurrently, the company provided positive updates on its clinical development, including sustained enrollment in the Phase 2 HORIZON trial for MZE829 and the successful initiation of the Phase 2 CIPheR trial for MZE782 in phenylketonuria.

2. Favorable Analyst Coverage Initiation and Upgrades with High Price Targets.

In October 2026, Maze Therapeutics received significant positive attention from financial analysts. Canaccord Genuity initiated coverage on October 19, 2026, with a "Buy" rating and a price target of $75.00, citing the strong potential of MZE829 for kidney disease and the company's broader pipeline. On the same day, Zacks.com upgraded Maze Therapeutics to a Zacks Rank #2 (Buy), reflecting an upward trend in earnings estimates. The average 12-month price target from analysts stands at $61.50, indicating substantial upside potential.

3. Anticipation of Key Clinical Data Presentations at ASN Kidney Week 2026.

Maze Therapeutics announced on October 6, 2026, its plans to present data for its MZE829 and MZE782 programs at the American Society of Nephrology (ASN) Kidney Week, scheduled for October 21–25, 2026. This included an oral presentation of previously reported Phase 2 HORIZON data for MZE829, which demonstrated an encouraging 35.6% reduction in mean urine albumin-to-creatinine ratio (uACR) in patients with APOL1-mediated kidney disease, along with preclinical data supporting MZE782 for chronic kidney disease. The impending presentation of these promising clinical results likely fueled investor optimism.

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Stock Movement Drivers

Fundamental Drivers

The 8.7% change in MAZE stock from 6/30/2026 to 10/20/2026 was primarily driven by a 19.0% change in the company's P/S Multiple.
(LTM values as of)630202610202026Change
Stock Price ($)29.8432.458.7%
Change Contribution By: 
Total Revenues ($ Mil)20200.0%
P/S Multiple80.495.719.0%
Shares Outstanding (Mil)5459-8.6%
Cumulative Contribution8.7%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2026 to 10/20/2026
ReturnCorrelation
MAZE8.7% 
Market (SPY)3.0%11.3%
Sector (XLV)13.3%15.6%

Fundamental Drivers

The 8.7% change in MAZE stock from 3/31/2026 to 10/20/2026 was primarily driven by a 9.2233720368547763E17% change in the company's Total Revenues ($ Mil).
(LTM values as of)331202610202026Change
Stock Price ($)29.8532.458.7%
Change Contribution By: 
Total Revenues ($ Mil)0209.2233720368547763E17%
P/S Multiple∞95.7 
Shares Outstanding (Mil)5459-9.3%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 10/20/2026
ReturnCorrelation
MAZE8.7% 
Market (SPY)18.6%15.8%
Sector (XLV)23.2%22.3%

Fundamental Drivers

The 25.1% change in MAZE stock from 9/30/2025 to 10/20/2026 was primarily driven by a 700.0% change in the company's Total Revenues ($ Mil).
(LTM values as of)930202510202026Change
Stock Price ($)25.9332.4525.1%
Change Contribution By: 
Total Revenues ($ Mil)220700.0%
P/S Multiple454.395.7-78.9%
Shares Outstanding (Mil)4459-25.8%
Cumulative Contribution25.1%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 10/20/2026
ReturnCorrelation
MAZE25.1% 
Market (SPY)16.4%16.0%
Sector (XLV)30.9%12.9%

Fundamental Drivers

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Market Drivers

9/30/2023 to 10/20/2026
ReturnCorrelation
MAZE  
Market (SPY)86.1%16.5%
Sector (XLV)46.3%17.5%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
MAZE Return----160%-28%86%
Peers Return-15%-20%-11%0%-35%-45%-78%
S&P 500 Return27%-19%24%23%16%12%104%

Monthly Win Rates [3]
MAZE Win Rate----58%50% 
Peers Win Rate46%31%44%47%47%24% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
MAZE Max Drawdown------57% 
Peers Max Drawdown-35%-40%-49%-45%-59%-51% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: VRTX, CMND, CNSY, CNXU, CSBR.
[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] 2026 data is for the year up to 10/20/2026 (YTD)

How Low Can It Go

EventMAZES&P 500
2025 US Tariff Shock
  % Loss-39.7%-18.8%
  % Gain to Breakeven65.9%23.1%
  Time to Breakeven56 days79 days

Compare to VRTX, CMND, CNSY, CNXU, CSBR

In The Past

Maze Therapeutics's stock fell -39.7% during the 2025 US Tariff Shock. Such a loss loss requires a 65.9% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventMAZES&P 500
2025 US Tariff Shock
  % Loss-39.7%-18.8%
  % Gain to Breakeven65.9%23.1%
  Time to Breakeven56 days79 days

Compare to VRTX, CMND, CNSY, CNXU, CSBR

In The Past

Maze Therapeutics's stock fell -39.7% during the 2025 US Tariff Shock. Such a loss loss requires a 65.9% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Maze Therapeutics (MAZE)

Maze Therapeutics (MAZE) is a clinical-stage biopharmaceutical company focused on developing precision medicines by leveraging human genetics. The company utilizes its proprietary "Compass platform" to identify and characterize genetic variants linked to diseases and then maps these variants to specific biological pathways. This process, known as "variant functionalization," underpins their strategy to develop novel small molecule drugs designed to mimic protective genetic effects observed in certain patient populations.

The company's pipeline primarily targets renal, cardiovascular, and related metabolic diseases, including obesity. Its two lead programs are orally administered small molecules: MZE829 and MZE782. MZE829 is an APOL1 inhibitor currently in a Phase 2 trial for APOL1 kidney disease (AKD), a severe form of chronic kidney disease (CKD). MZE782, a novel SLC6A19 inhibitor, is in a Phase 1 trial for a broad population of CKD patients who have an inadequate response to existing treatments and is also being investigated for its potential in phenylketonuria (PKU).

Maze Therapeutics addresses significant patient populations, particularly those suffering from chronic kidney disease, a condition affecting tens of millions in the United States. MZE829 targets the over one million patients with AKD, while MZE782 aims to benefit approximately five million CKD patients who struggle with current therapies, potentially offering standalone treatment or complementary benefits. By targeting the underlying genetic drivers of disease, Maze seeks to deliver more effective and tailored therapeutic options for these serious and progressive conditions.

AI Analysis | Feedback

Maze Therapeutics is like a **Vertex Pharmaceuticals** focused on developing precision medicines for kidney and metabolic diseases, leveraging deep genetic insights.

AI Analysis | Feedback

  • MZE829: An oral, small molecule inhibitor of apolipoprotein L1 (APOL1) for the treatment of APOL1 kidney disease (AKD).
  • MZE782: An oral, small molecule inhibitor of the solute transporter SLC6A19, primarily aimed at chronic kidney disease (CKD) with potential for phenylketonuria (PKU).

AI Analysis | Feedback

Maze Therapeutics (MAZE) is a clinical-stage biopharmaceutical company focused on the research and development of novel precision medicines. As such, the company is currently engaged in clinical trials for its drug candidates (MZE829 and MZE782) and does not yet have any commercialized products on the market. Therefore, Maze Therapeutics does not have major customers at this time, as it is not currently selling products to other companies or individuals.

AI Analysis | Feedback

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AI Analysis | Feedback

Jason Coloma, Chief Executive Officer

Dr. Jason Coloma is the Chief Executive Officer of Maze Therapeutics. He was previously the company's chief operating officer and a venture partner at Third Rock Ventures, where he played a key role in the founding and launch of Maze. Prior to Maze, he served as interim Chief Business Officer at Third Rock portfolio companies insitro and Celsius. His career also includes roles as Senior Vice President and Chief Business Officer at Corvus Pharmaceuticals, and Vice President & Global Therapeutic Area Head of Oncology and Cancer Immunotherapy Partnering at Roche. He also worked as a consultant in the life sciences practice at L.E.K. Consulting. Maze Therapeutics was launched in 2019 by Third Rock Ventures and received funding from various investors, including ARCH Venture Partners and GV.

Misbah Tahir, Chief Financial Officer

Misbah Tahir was appointed Chief Financial Officer of Maze Therapeutics in September 2025. He brings over two decades of financial and strategic leadership experience in the biopharmaceutical industry. Most recently, he served as Chief Financial Officer at IGM Biosciences, Inc., where he was instrumental in guiding the company through its 2019 initial public offering and helped raise more than $1 billion through equity financings and a pharmaceutical partnership. Tahir began his career in the biopharmaceutical sector at Amgen, Inc. after working as a management consultant.

Harold Bernstein, President, Research and Development and Chief Medical Officer

Dr. Harold Bernstein joined Maze Therapeutics as President, Research and Development and Chief Medical Officer in 2022. He has over three decades of experience in scientific research, translational medicine, and clinical development in both industry and academia. Before Maze, he was Senior Vice President, Chief Medical Officer, and Head of Global Clinical Development at BioMarin Pharmaceutical. His previous roles include Head of Translational Medicine and Vice President of Global Medicines Development and Medical Affairs at Vertex Pharmaceuticals, and positions at Merck, where he was head of early development for cardiometabolic diseases. Dr. Bernstein also held academic positions as a professor of pediatrics and a senior investigator at the University of California, San Francisco (UCSF), and served as an attending physician at UCSF Benioff Children's Hospital and Mount Sinai Kravis Children's Hospital.

Atul Dandekar, Chief Strategy & Business Officer

Atul Dandekar serves as the Chief Strategy & Business Officer for Maze Therapeutics.

Courtney Phillips, General Counsel & Corporate Secretary

Courtney Phillips is the General Counsel & Corporate Secretary at Maze Therapeutics.

AI Analysis | Feedback

  • Clinical Trial Failure: As a clinical-stage biopharmaceutical company, Maze Therapeutics' success is fundamentally dependent on the successful outcome of its ongoing and future clinical trials for its lead product candidates, MZE829 and MZE782. Both programs are currently in early to mid-stage clinical development (Phase 1 and Phase 2 respectively), and there is a significant risk that these trials may not demonstrate sufficient safety or efficacy, or may encounter unexpected adverse events, which could lead to delays, termination, or failure to achieve regulatory approval.
  • Reliance on Novel Platform and Mechanisms of Action: Maze Therapeutics' strategy hinges on its proprietary Compass platform and its approach of "variant functionalization" to develop precision medicines that phenocopy protective genetic variants. The company's lead programs, MZE829 (targeting APOL1) and MZE782 (targeting SLC6A19), represent novel mechanisms of action for chronic kidney disease. There is a risk that this innovative platform may not consistently identify viable drug candidates, or that the specific therapeutic hypotheses underlying their lead programs may not translate into robust clinical benefits, potentially undermining their entire development pipeline.
  • Regulatory Approval Risk: Even if clinical trials for MZE829 and MZE782 are successful, Maze Therapeutics faces the significant challenge and inherent uncertainty of obtaining regulatory approvals from agencies like the FDA. The regulatory process is rigorous and can be unpredictable, especially for novel precision medicines utilizing new mechanisms. Delays in the approval process or a failure to obtain necessary approvals could significantly impact the company's ability to commercialize its products and generate revenue.

AI Analysis | Feedback

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AI Analysis | Feedback

For Maze Therapeutics' lead programs, the addressable markets are as follows:

  • MZE829: Estimated to affect over one million patients with APOL1 kidney disease (AKD) in the United States.
  • MZE782: Has the potential to address approximately five million chronic kidney disease (CKD) patients in the United States with inadequate responses to currently available therapies.

AI Analysis | Feedback

The expected drivers of future revenue growth for Maze Therapeutics (MAZE) over the next 2-3 years are primarily centered on the advancement and potential success of its lead clinical programs and the expansion of its pipeline:

  1. Advancement and Positive Clinical Trial Results for MZE829 in APOL1 Kidney Disease (AKD): Maze Therapeutics anticipates dosing the first patient in its Phase 2 trial for MZE829 in AKD during the first quarter of 2025 and reporting proof-of-concept data in the first quarter of 2026. Successful progression through this clinical stage, demonstrating efficacy and safety, would significantly de-risk the program, enhance its market potential, and represent a key step towards future commercialization for a disease affecting over one million patients in the United States.
  2. Advancement and Initial Clinical Trial Results for MZE782 in Chronic Kidney Disease (CKD): The company initiated a Phase 1 trial for MZE782 in September 2024 and expects to report initial data in the second half of 2025. Positive results from this trial would enable progression to later clinical stages, validating MZE782 as a potential novel treatment for approximately five million CKD patients in the United States who currently have inadequate responses to available therapies.
  3. Expansion of MZE782 into Phenylketonuria (PKU): Following the ongoing Phase 1 trial for MZE782 in CKD, Maze Therapeutics plans to conduct a parallel Phase 2 clinical trial to explore MZE782 as a potential treatment for phenylketonuria. This strategic move into a new, genetically defined metabolic disease represents a significant market expansion opportunity for MZE782, diversifying its potential revenue streams beyond CKD.
  4. Pipeline Expansion through the Compass Platform: Maze Therapeutics' proprietary Compass platform is designed to identify and characterize genetic variants to develop novel precision medicines. The continued successful application of this platform to generate new lead programs and expand the company's pipeline beyond MZE829 and MZE782 will be crucial for long-term revenue growth. This platform underpins the company's ability to consistently discover and advance new drug candidates.

AI Analysis | Feedback

Share Issuance

  • Maze Therapeutics completed its Initial Public Offering (IPO) on January 31, 2025, raising approximately $140 million in gross proceeds by offering 8,750,000 shares of common stock at $16.00 per share.
  • The company conducted an oversubscribed private placement in September 2025, which raised approximately $150.0 million through the issuance of 4,000,002 shares of common stock at a price of $16.25 per share.

Inbound Investments

  • Prior to its IPO, Maze Therapeutics raised almost $500 million in private funding, which included a $190 million funding round in 2022 and a $115 million Series D financing in December 2024.
  • In the first half of 2024, Maze Therapeutics recognized $165.0 million in license revenue, with $150.0 million from an exclusive license agreement with Shionogi & Co., Ltd. for MZE001 and an additional $15.0 million from Trace Neuroscience, Inc.

Capital Expenditures

  • Proceeds from financing rounds, including the September 2025 private placement, are intended to advance the development of lead programs MZE829 and MZE782 in clinical trials, further develop its Compass platform, and cover general corporate purposes.

Peer Outperformance in Biotechnology

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Share of Biotechnology constituents that MAZE has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
69%
of 451 industry peers · 9.1% return
3Y
—
insufficient peer history
5Y
—
insufficient peer history
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Median price return by industry across the Health Care sector, ranked by 5Y. Biotechnology is MAZE's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Health Care Distributors 6 18.5%55.2%102.0% CAH 479% · MCK 412% · COR 196%
Health Care Services 20 17.6%41.0%11.8% HIMS 252% · RDNT 134% · DGX 78%
Health Care Facilities 24 5.0%18.5%6.1% THC 315% · NHC 301% · ENSG 147%
Managed Health Care 8 39.5%0.2%4.7% OSCR 107% · HQY 44% · ELV 12%
Health Care Equipment 50 -4.3%4.2%-11.9% UFPT 362% · GKOS 275% · TMDX 178%
Pharmaceuticals 61 -11.8%2.7%-33.0% LQDA 913% · KNSA 665% · CORT 498%
Health Care Supplies 11 14.1%-7.3%-41.0% LNTH 331% · HAE 67% · MMSI 30%
Life Sciences Tools & Services 109 -12.9%-9.4%-66.4% NTRA 261% · MEDP 231% · IRTC 63%
Biotechnology ← 362 -23.9%-23.8%-80.5% DNTH 1102% · ELVN 1036% · ADMA 912%
Health Care Technology 22 -30.8%-64.5%-82.7% VEEV 0% · DOCS -54%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Latest Trefis Analyses

TitleDate
0DASHBOARDS 
1Maze Therapeutics Earnings Notes12/16/2025
2null10/17/2025
Title
0ARTICLES

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

MAZEVRTXCMNDCNSYCNXUCSBRMedian
NameMaze The.Vertex P.Clearmin.Cerenome Conexeu .Champion. 
Mkt Price32.45513.306.081.673.214.875.47
Mkt Cap1.9130.20.00.00.10.10.1
Rev LTM2012,5870006110
Op Inc LTM-1464,777-9-26-14-1-11
FCF LTM-1073,796-7-24-11-6-9
FCF 3Y Avg-441,957-5-17--0-5
CFO LTM-1074,293-7-22-11-6-9
CFO 3Y Avg-442,398-5-16-0-5

Growth & Margins

MAZEVRTXCMNDCNSYCNXUCSBRMedian
NameMaze The.Vertex P.Clearmin.Cerenome Conexeu .Champion. 
Rev Chg LTM700.0%10.2%---6.7%10.2%
Rev Chg 3Y Avg-9.8%---4.9%7.4%
Rev Chg Q-12.5%---8.8%10.6%
QoQ Delta Rev Chg LTM0.0%3.0%---2.1%2.1%
Op Inc Chg LTM-15.7%2,497.9%-53.0%-106.7%--131.0%-53.0%
Op Inc Chg 3Y Avg-792.2%-18.0%-26.9%-40.9%11.5%
Op Mgn LTM-728.1%37.9%----1.5%-1.5%
Op Mgn 3Y Avg-1,907.6%23.9%----0.7%-0.7%
QoQ Delta Op Mgn LTM-57.8%-0.2%---0.2%-0.2%
CFO/Rev LTM-532.7%34.1%----9.2%-9.2%
CFO/Rev 3Y Avg-1,564.2%19.6%---0.3%0.3%
FCF/Rev LTM-534.2%30.2%----10.1%-10.1%
FCF/Rev 3Y Avg-1,583.5%15.7%----0.4%-0.4%

Valuation

MAZEVRTXCMNDCNSYCNXUCSBRMedian
NameMaze The.Vertex P.Clearmin.Cerenome Conexeu .Champion. 
Mkt Cap1.9130.20.00.00.10.10.1
P/S95.710.3---1.110.3
P/Op Inc-13.127.3-0.1-0.4-6.3-72.6-3.4
P/EBIT-13.925.8-0.2-0.5-6.4-72.6-3.4
P/E-14.329.6-0.2-0.4-6.4-63.1-3.4
P/CFO-18.030.3-0.2-0.5-8.2-12.2-4.4
Total Yield-7.0%3.4%-619.4%-225.1%-16.9%-1.6%-11.9%
Dividend Yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg-1.6%-1,975.5%---1.2%-1.2%
D/E0.00.01.50.00.00.20.0
Net D/E-0.2-0.0-11.8-0.7-0.00.1-0.1

Returns

MAZEVRTXCMNDCNSYCNXUCSBRMedian
NameMaze The.Vertex P.Clearmin.Cerenome Conexeu .Champion. 
1M Rtn44.1%1.0%661.0%-17.7%-35.3%-8.1%-3.6%
3M Rtn10.8%6.5%270.7%-57.8%-66.7%-20.2%-6.8%
6M Rtn26.3%17.6%-25.9%-57.8%-77.7%-16.0%-20.9%
12M Rtn9.1%22.5%-98.6%-57.8%-77.7%-25.4%-41.6%
3Y Rtn103.4%41.9%-99.7%-57.8%-77.7%-24.4%-41.1%
1M Excs Rtn46.3%1.9%670.0%-10.8%-31.0%-6.0%-2.1%
3M Excs Rtn11.8%6.5%261.9%-60.0%-67.9%-22.7%-8.1%
6M Excs Rtn17.9%9.2%-34.2%-66.2%-86.8%-24.6%-29.4%
12M Excs Rtn1.7%8.3%-113.3%-72.7%-93.7%-40.1%-56.4%
3Y Excs Rtn26.5%-38.4%-176.2%-134.4%-160.4%-98.8%-116.6%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil2025202420232022
Business of harnessing its understanding of human genetics and variant functionalization to develop016800
Total016800


Operating Income by Segment
$ Mil202520242023
Business of harnessing its understanding of human genetics and variant functionalization to develop-14358-99
Total-14358-99


Net Income by Segment
$ Mil2025
Business of harnessing its understanding of human genetics and variant functionalization to develop-131
Total-131


Assets by Segment
$ Mil20232022
Business of harnessing its understanding of human genetics and variant functionalization to develop72150
Total72150


Price Behavior

Price Behavior
Market Price$32.45 
Market Cap ($ Bil)1.9 
First Trading Date01/31/2025 
Distance from 52W High-37.4% 
   50 Days200 Days
DMA Price$26.93$32.18
DMA Trenddowndown
Distance from DMA20.5%0.8%
 3M1YR
Volatility71.2%67.9%
Downside Capture39.1569.09
Upside Capture15.1556.33
Correlation (S&P 500)5.1%14.0%
MAZE Betas & Captures as of 9/30/2026

 1M2M3M6M1Y3Y
Beta-0.46-0.070.470.680.79-0.05
Up Beta-1.43-0.340.180.741.21-0.24
Down Beta8.283.122.460.710.72-0.21
Up Capture-112%-16%1%41%54%38%
Bmk +ve Days6162766132424
Stock +ve Days9233364129213
Down Capture-94%-32%61%102%74%84%
Bmk -ve Days16263760120328
Stock -ve Days13193162122200

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with MAZE
MAZE16.8%67.9%0.52-
Sector ETF (XLV)27.2%16.2%1.2912.9%
Equity (SPY)16.8%12.7%0.9314.1%
Gold (GLD)-2.9%29.3%-0.109.8%
Commodities (DBC)52.5%20.7%1.93-9.5%
Real Estate (VNQ)5.1%13.8%0.116.0%
Bitcoin (BTCUSD)-23.7%43.6%-0.507.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with MAZE
MAZE14.8%89.2%0.83-
Sector ETF (XLV)9.2%15.3%0.4017.6%
Equity (SPY)13.6%17.1%0.6116.6%
Gold (GLD)18.1%18.9%0.773.3%
Commodities (DBC)9.7%19.5%0.380.0%
Real Estate (VNQ)1.4%18.9%-0.0314.1%
Bitcoin (BTCUSD)7.7%51.7%0.3311.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with MAZE
MAZE7.1%89.2%0.83-
Sector ETF (XLV)11.4%16.8%0.5617.6%
Equity (SPY)15.3%17.9%0.7216.6%
Gold (GLD)12.1%16.4%0.603.3%
Commodities (DBC)8.2%18.1%0.370.0%
Real Estate (VNQ)5.2%20.7%0.2114.1%
Bitcoin (BTCUSD)62.9%66.2%1.0311.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date9302026
Short Interest: Shares Quantity6.6 Mil
Short Interest: % Change Since 915202615.6%
Average Daily Volume1.1 Mil
Days-to-Cover Short Interest6.1 days
Basic Shares Quantity59.0 Mil
Short % of Basic Shares11.1%

Earnings Returns History

Updated 10/16/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/11/20260.8%6.7%-9.1%
5/12/20264.6%-5.1%-6.6%
3/25/2026-35.2%-39.1%-46.9%
11/6/2025-2.1%7.6%37.0%
8/12/2025-1.0%-2.1%80.5%
5/14/20252.1%16.1%47.9%
SUMMARY STATS   
# Positive333
# Negative333
Median Positive2.1%7.6%47.9%
Median Negative-2.1%-5.1%-9.1%
Max Positive4.6%16.1%80.5%
Max Negative-35.2%-39.1%-46.9%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/11/20260.8%6.7%-9.1%
5/12/20264.6%-5.1%-6.6%
3/25/2026-35.2%-39.1%-46.9%
11/6/2025-2.1%7.6%37.0%
8/12/2025-1.0%-2.1%80.5%
5/14/20252.1%16.1%47.9%
SUMMARY STATS   
# Positive333
# Negative333
Median Positive2.1%7.6%47.9%
Median Negative-2.1%-5.1%-9.1%
Max Positive4.6%16.1%80.5%
Max Negative-35.2%-39.1%-46.9%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/11/202610-Q
03/31/202605/12/202610-Q
12/31/202503/25/202610-K
09/30/202511/06/202510-Q
06/30/202508/12/202510-Q
03/31/202505/14/202510-Q
12/31/202403/31/202510-K
09/30/202401/31/2025424B4
06/30/202409/13/2024DRS/A
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/11/202610-Q
03/31/202605/12/202610-Q
12/31/202503/25/202610-K
09/30/202511/06/202510-Q
06/30/202508/12/202510-Q
03/31/202505/14/202510-Q
12/31/202403/31/202510-K
09/30/202401/31/2025424B4
06/30/202409/13/2024DRS/A

Recent Forward Guidance

Updated 10/4/2026

Latest: Q2 2026 Earnings Reported 8/11/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2029 Cash RunwayReported      


Prior: Q1 2026 Earnings Reported 5/12/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2029 Cash RunwayReported 2029   RaisedGuidance: 2028 for 2028

Q4 2025 Earnings Reported 3/25/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2028 Cash RunwayReported     AffirmedGuidance: 2028 for 2028

Q3 2025 Earnings Reported 11/6/2025

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2028 Cash RunwayReported 2028   Higher NewGuidance: 2027 for 2027

Insider Activity

Updated 10/2/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Bernstein, HaroldPresident, R&D & CMODirectSell1002202626.9316,141  Form
2Coloma, Jason VChief Executive OfficerThe Coloma 2021 Irrevocable TrustSell1002202627.022,59370,073420,441Form
3Coloma, Jason VChief Executive OfficerColoma Family TrustSell1002202627.0231,908862,1865,173,089Form
4Dandekar, AtulCSBODirectSell1001202627.067,500202,921874,345Form
5Bernstein, HaroldPresident, R&D & CMODirectSell908202626.229,705  Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Bernstein, HaroldPresident, R&D & CMODirectSell1002202626.9316,141  Form
2Coloma, Jason VChief Executive OfficerThe Coloma 2021 Irrevocable TrustSell1002202627.022,59370,073420,441Form
3Coloma, Jason VChief Executive OfficerColoma Family TrustSell1002202627.0231,908862,1865,173,089Form
4Dandekar, AtulCSBODirectSell1001202627.067,500202,921874,345Form
5Bernstein, HaroldPresident, R&D & CMODirectSell908202626.229,705  Form
6Dandekar, AtulCSBODirectSell904202626.013,24384,354840,573Form
7Courtney, PhillipsGC and Corp. SecretaryDirectSell904202626.012,01252,334182,257Form
8Coloma, Jason VChief Executive OfficerDirectSell904202626.0111,411296,807711,702Form
9Bernstein, HaroldPresident, R&D & CMODirectSell904202626.015,189134,969252,433Form
10Dandekar, AtulCSBODirectSell904202626.473,19184,457941,151Form
11Courtney, PhillipsGC and Corp. SecretaryDirectSell904202626.471,98152,432238,709Form
12Coloma, Jason VChief Executive OfficerDirectSell904202626.4711,227297,1481,026,215Form
13Bernstein, HaroldPresident, R&D & CMODirectSell904202626.475,106135,142394,203Form
14Coloma, Jason VChief Executive OfficerThe Coloma 2021 Irrevocable TrustSell903202626.312,59368,214477,498Form
15Coloma, Jason VChief Executive OfficerColoma Family TrustSell903202626.2931,908838,7855,871,467Form
16Bernstein, HaroldPresident, R&D & CMODirectSell903202626.3616,141  Form
17Dandekar, AtulCSBODirectSell831202627.587,500206,824723,883Form
18Bernstein, HaroldPresident, R&D & CMODirectSell814202627.6116,142  Form
19Coloma, Jason VChief Executive OfficerThe Coloma 2021 Irrevocable TrustSell805202626.742,59369,329554,633Form
20Coloma, Jason VChief Executive OfficerColoma Family TrustSell805202626.7331,908852,9866,823,860Form
21Dandekar, AtulCSBODirectSell731202627.347,500205,031717,610Form
22Dandekar, AtulCSBODirectSell701202628.027,500210,150735,525Form
23Coloma, Jason VChief Executive OfficerColoma Family TrustSell624202626.0523,865621,6748,311,880Form
24Coloma, Jason VChief Executive OfficerColoma Family TrustSell624202626.001,95350,7818,917,058Form
25Coloma, Jason VChief Executive OfficerThe Coloma 2021 Irrevocable TrustSell624202626.002,04053,040674,180Form
26Coloma, Jason VChief Executive OfficerColoma Family TrustSell603202626.206,090159,5379,035,094Form
27Coloma, Jason VChief Executive OfficerThe Coloma 2021 Irrevocable TrustSell603202626.2455314,511733,966Form
28Bernstein, HaroldPresident, R&D & CMODirectSell603202625.6614,853  Form
29Dandekar, AtulCSBODirectSell602202626.347,500197,554653,455Form
30Coloma, Jason VChief Executive OfficerColoma Family TrustSell527202626.0225,582665,5169,130,927Form
31Coloma, Jason VChief Executive OfficerColoma Family TrustSell527202626.004,504117,1049,790,832Form
32Coloma, Jason VChief Executive OfficerThe Coloma 2021 Irrevocable TrustSell527202626.002,47864,428741,598Form
33Coloma, Jason VChief Executive OfficerColoma Family TrustSell518202626.001,82247,3729,907,898Form
34Coloma, Jason VChief Executive OfficerThe Coloma 2021 Irrevocable TrustSell518202626.001163,016806,026Form
35Bernstein, HaroldPresident, R&D & CMODirectSell518202626.2215,000  Form
36Dandekar, AtulCSBODirectSell501202625.377,500190,299266,495Form
37Bachrodt, AmySVP, FinanceDirectSell402202629.442,50073,611381,746Form
38Bernstein, HaroldPresident, R&D & CMODirectSell402202629.4615,000  Form
39Dandekar, AtulCSBODirectSell401202629.347,500220,019308,114Form
40Bernstein, HaroldPresident, R&D & CMODirectSell320202649.1015,000  Form
41Bernstein, HaroldPresident, R&D & CMODirectSell312202650.4530,000  Form
42Bachrodt, AmySVP, FinanceDirectSell303202645.205,000226,011586,045Form
43Dandekar, AtulCSBODirectSell303202645.437,500340,723477,149Form
44Bernstein, HaroldPresident, R&D & CMODirectSell204202646.0215,000  Form
45Bachrodt, AmySVP, FinanceDirectSell204202646.045,000230,219596,959Form
46Dandekar, AtulCSBODirectSell202202644.277,500331,990464,919Form
47Bachrodt, AmySVP, FinanceDirectSell126202645.525,000227,612590,198Form
48Bernstein, HaroldPresident, R&D & CMODirectSell109202640.2025,156  Form
49Bernstein, HaroldPresident, R&D & CMODirectSell106202640.00412  Form
50Bernstein, HaroldPresident, R&D & CMODirectSell106202640.434,432  Form
51Bachrodt, AmySVP, FinanceDirectSell106202639.155,000195,754507,589Form
52Dandekar, AtulCSBODirectSell1231202540.361004,036423,901Form
53Bachrodt, AmySVP, FinanceDirectSell1231202540.085,000200,407519,655Form
54Dandekar, AtulCSBODirectSell1231202540.5672,4002,936,763426,034Form
55Bernstein, HaroldPresident, R&D & CMODirectSell1231202540.5645,000  Form
56Bachrodt, AmySVP, FinanceDirectSell1231202540.5810,000405,766526,076Form

Investor Activity (13F)

Updated Oct 21, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
ARCH Venture Management, LLC$123.0 Mil18.2%10Hold13F
TRV GP V, LLC$28.4 Mil7.1%3Hold13F
a16z Capital Management, L.L.C.$50.8 Mil3.9%16Hold13F
Frazier Life Sciences Management, L.P.$136.3 Mil3.5%38Hold13F
Venrock Adviser, LLC$47.8 Mil1.8%33Hold13F
Casdin Capital, LLC$22.7 Mil1.7%40Hold13F
Paradigm Biocapital Advisors LP$81.9 Mil1.7%35New13F
Mass General Brigham, Inc$7.2 Mil1.5%6Hold13F
Spruce Street Capital LP$6.0 Mil1.4%28New13F
Caligan Partners LP$18.4 Mil1.3%24ADD +11.8%13F
Cormorant Asset Management, LP$22.4 Mil1.1%46New13F
Alphabet Inc.$41.4 Mil1.0%27Hold13F
HHLR Advisors, LTD.$10.9 Mil0.7%38TRIM -20.0%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Paradigm Biocapital Advisors LP$81.9 Mil1.7%35New13F
Cormorant Asset Management, LP$22.4 Mil1.1%46New13F
Spruce Street Capital LP$6.0 Mil1.4%28New13F
Caligan Partners LP$18.4 Mil1.3%24ADD +11.8%13F
Active ManagerValue% of PortfolioTotal PositionsQoQAs OfFiling
TCG Crossover Management, LLC$7.2 Mil0.2%43ExitedDec 31, 202513F
HHLR Advisors, LTD.$10.9 Mil0.7%38TRIM -20.0%Mar 31, 202613F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Frazier Life Sciences Management, L.P.$136.3 Mil3.5%38Hold13F
ARCH Venture Management, LLC$123.0 Mil18.2%10Hold13F
Paradigm Biocapital Advisors LP$81.9 Mil1.7%35New13F
a16z Capital Management, L.L.C.$50.8 Mil3.9%16Hold13F
Venrock Adviser, LLC$47.8 Mil1.8%33Hold13F
Alphabet Inc.$41.4 Mil1.0%27Hold13F
TRV GP V, LLC$28.4 Mil7.1%3Hold13F
Casdin Capital, LLC$22.7 Mil1.7%40Hold13F
Cormorant Asset Management, LP$22.4 Mil1.1%46New13F
Caligan Partners LP$18.4 Mil1.3%24ADD +11.8%13F
HHLR Advisors, LTD.$10.9 Mil0.7%38TRIM -20.0%13F
Mass General Brigham, Inc$7.2 Mil1.5%6Hold13F
Spruce Street Capital LP$6.0 Mil1.4%28New13F
Core Cache Last Updated: 10/20/2026