MAZE
Maze Therapeutics, Inc.Healthcare·Biotechnology
$26.46
$1.5B market cap
Revenue
$20.0M
Free Cash Flow
$-67.0M
Rev Growth
+0.0%
FCF Margin
-334.9%
P/FCF
--
EV/FCF
--
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
Maze Therapeutics, Inc., a clinical stage biopharmaceutical company, develops small molecule precision medicines for the treatment of renal, cardiovascular, related metabolic diseases, and obesity in the United States. Its lead programs includes MZE829, an oral small molecule inhibitor of apolipoprotein L1, which is in phase II clinical trial for the treatment of patients with APOL1 kidney disease; and MZE782, an oral small molecule inhibitor of the solute transporter SLC6A19, which is in phase
2-Year Price History
$25.78+61.6%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 20.0 | -26.1 | -26.6 | -24.2 | -39.1 | -39.2 | -0.1 | 352.4 | 61.2 | 53.9 | -65.8% | -30.1x | -- |
| Act | 2025-Q4 | 0.0 | -37.6 | -38.1 | -34.6 | -27.7 | -27.8 | -0.0 | 341.9 | 23.3 | 43.0 | -109.8% | -- | -- |
Valuation & Metrics
Market Stats
Price$26.46
Market Cap$1.5B
Enterprise Value$1.2B
P/S Ratio73.2x
P/FCF--
EV/FCF--
FCF Margin (TTM)-334.9%
FCF Yield-4.6%
Dividend Yield (TTM)--
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$20.0M
Net Income$-58.8M
Free Cash Flow$-67.0M
Revenue Growth (YoY)+0.0%
EBITDA Margin-318.3%
Net Margin-293.9%
FCF Margin-334.9%
CapEx % of Revenue0.6%
SBC % of Revenue30.4%
ROIC-87.8%
WC Change % Rev-88.9%
Interest Coverage-73.5x
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares4.4M
Days to Cover5.6
Change (vs Prior)+14.6%
Need at least 2 settlement dates for chart
Employees
Headcount125
Revenue / Employee$160,000
Gross Profit / Employee$152,456
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
96.2%(+66.4% YoY)
154 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
12.2%(+11.0% YoY)
8 filers
Vanguard, iShares, SPDR
Market makers
0.1%(+0.1% YoY)
2 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| Frazier Life Sciences Management, L.P. | $136M | $11.13 | +$0 | +$13.1M | +2.2% | $3.89B |
| TRV GP IV, LLC | $134M | $11.01 | +$0 | −$47.8M | -7.2% | $267M |
| ARCH Venture Management, LLC | $123M | $11.01 | +$0 | +$0 | -7.0% | $677M |
| Deep Track Capital, LP | $104M | $13.34 | −$23.0M | +$6.2M | -1.2% | $4.85B |
| JANUS HENDERSON GROUP PLC | $85.3M | $30.24 | −$8.5M | +$48.1M | +1.2% | $209.29B |
| Paradigm Biocapital Advisors LP | $81.9M | $29.85 | +$81.9M | +$81.9M | +2.0% | $4.69B |
| BlackRock, Inc.Passive | $76.7M | $28.67 | +$8.5M | +$59.3M | -0.2% | $5.69T |
| a16z Capital Management, L.L.C. | $50.8M | $11.01 | +$0 | +$0 | +0.6% | $1.29B |
| VR Adviser, LLC | $47.8M | $29.14 | +$1.6M | +$47.8M | -1.8% | $2.68B |
| VANGUARD CAPITAL MANAGEMENT LLCPassive | $42.9M | $29.85 | +$42.9M | +$42.9M | — | $4.04T |
| Alphabet Inc. | $41.4M | $11.01 | +$0 | −$30.6M | +0.1% | $4.02B |
| Logos Global Management LP | $36.9M | $18.93 | +$8.5M | +$8.9M | -1.6% | $1.94B |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $35.2M | $29.85 | +$35.2M | +$35.2M | -0.1% | $64.61B |
| General Catalyst Group Management, LLC | $30.9M | $11.01 | +$0 | +$0 | -2.6% | $184M |
| TRV GP V, LLC | $28.4M | $11.01 | +$0 | +$0 | +4.2% | $401M |
| FMR LLC | $25.8M | $15.93 | +$4.0M | −$3.1M | -0.0% | $1.89T |
| CITADEL ADVISORS LLC | $23.2M | $35.76 | +$9.8M | +$22.6M | -0.4% | $138.22B |
| ArrowMark Colorado Holdings LLC | $22.9M | $30.42 | +$0 | +$22.9M | -4.3% | $3.74B |
| Casdin Capital, LLC | $22.7M | $11.01 | +$0 | −$5.6M | -3.2% | $1.32B |
| Cormorant Asset Management, LLC | $22.4M | $29.85 | +$22.4M | +$22.4M | -2.3% | $1.95B |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)BULLISH
Holders
-0.69%
avg per quarter
Holders (ex-self)
-0.87%
excl. this stock
Buyers (this Q)
+1.80%
72 buyers · $0.29B in
Sellers (this Q)
+0.10%
36 sellers · $0.27B out
alpha coverage: 97% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
-5.1%
how holders react when this stock falls
On quiet Qs
-3.3%
−10% to +10% baseline
On rallies (+10%+)
+7.6%
how they react when this stock rises
Holders' portfolio flow this Q
+0.8%
inflows — adds are organic
Sellers' portfolio flow this Q
+2.4%
Sellers grew AUM elsewhere — opinionated cut of this stock.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
-2.7%
Holder mid (any stock)
-3.3%
Holder rally (any stock)
-5.2%
Biggest decreases this quarter
Bellevue Group AGexited−$36.8MDeep Track Capital, LP−$23.0Mα-1.2Matrix Capital Management Company, LPexited−$19.9MEVENTIDE ASSET MANAGEMENT, LLCexited−$13.4MWoodline Partners LP−$11.5Mα-0.1JANUS HENDERSON GROUP PLC−$8.5Mα+1.2TCG Crossover Management, LLCexited−$7.2MSTEMPOINT CAPITAL LPexited−$5.2MMPM BioImpact LLCexited−$3.4MTrexquant Investment LPexited−$2.2M
New buyers this quarter
Top-5 holders · 37.7%
Frazier Life Sciences Management, L.P.--
TRV GP IV, LLC--
ARCH Venture Management, LLC--
Deep Track Capital, LP--
JANUS HENDERSON GROUP PLC--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
Frazier Life Sciences Management, L.P.4.6MTRV GP IV, LLC4.5MDeep Track Capital, LP3.5MARCH Venture Management, LLC4.1MJANUS HENDERSON GROUP PLC2.9MParadigm Biocapital Advisors LP2.7Ma16z Capital Management, L.L.C.1.7MVR Adviser, LLC1.6MAlphabet Inc.1.4MGeneral Catalyst Group Management, LLC1.0M
Related Stocks
Investors who own this also own
Stocks held by the same active managers as this one, ranked by score — how much more often these appear together than random chance (1× = baseline). Excludes index ETFs and market makers; minimum 3 shared holders.
| Ticker | Name | Co-holders | Score |
|---|---|---|---|
| LYEL | Lyell Immunopharma, Inc. | 4 | 166.59× |
| EIKN | Eikon Therapeutics, Inc. Common Stock | 3 | 160.64× |
| BEAM | Beam Therapeutics Inc. | 3 | 124.94× |
| ERAS | Erasca, Inc. | 6 | 124.94× |
| TARS | Tarsus Pharmaceuticals, Inc. | 3 | 112.45× |
| RLAY | Relay Therapeutics, Inc. | 4 | 107.09× |
| VOR | Vor Biopharma Inc. | 3 | 102.22× |
| TNGX | Tango Therapeutics, Inc. | 4 | 99.95× |
| KALV | KalVista Pharmaceuticals, Inc. | 3 | 86.50× |
| ORKA | Oruka Therapeutics, Inc. | 4 | 83.29× |
| OCUL | Ocular Therapeutix, Inc. | 3 | 80.32× |
| CYTK | Cytokinetics, Incorporated | 6 | 70.28× |
Analyst Coverage
Analyst Coverage
Price Targets
Last Quarter (3 analysts)$76.3318850.0%
Last Year (11 analysts)$51.369410.0%
Current Price$26.46
Analyst Ratings
6
Buy: 6Consensus: Buy
Corporate
Insider Trading (last 12mo)
Open-market only (Form 4 P-Purchase + S-Sale). Excludes grants, option exercises, tax withholding, gifts.
Officers & directors
Buys ($, 12mo)
$0
0 txns · 0 insiders · 0 sh
Sells ($, 12mo)
$13.49M
24 txns · 6 insiders · 344,595 sh
Recent transactions
| Date | Side | Insider | Title | Shares | Price | Dollars | Owned $ |
|---|---|---|---|---|---|---|---|
| 2026-05-15 | SELL | Coloma Jason V | director, officer: Chief Executive Officer | 1,938 | $26.00 | $50K | $806K |
| 2026-05-14 | SELL | Bernstein Harold | officer: President, R&D & CMO | 15,000 | $26.22 | $393K | $0 |
| 2026-04-29 | SELL | Dandekar Atul | officer: CSBO | 7,500 | $25.37 | $190K | $266K |
| 2026-04-01 | SELL | Bachrodt Amy | officer: SVP, Finance | 2,500 | $29.44 | $74K | $382K |
| 2026-04-01 | SELL | Bernstein Harold | officer: President, R&D & CMO | 15,000 | $29.46 | $442K | $0 |
| 2026-03-30 | SELL | Dandekar Atul | officer: CSBO | 7,500 | $29.34 | $220K | $308K |
| 2026-03-20 | SELL | Bernstein Harold | officer: President, R&D & CMO | 15,000 | $49.10 | $736K | $0 |
| 2026-03-10 | SELL | Bernstein Harold | officer: President, R&D & CMO | 30,000 | $50.45 | $1.51M | $0 |
| 2026-02-02 | SELL | Bachrodt Amy | officer: SVP, Finance | 5,000 | $46.04 | $230K | $597K |
| 2026-02-02 | SELL | Bernstein Harold | officer: President, R&D & CMO | 15,000 | $46.02 | $690K | $0 |
| 2026-01-29 | SELL | Dandekar Atul | officer: CSBO | 7,500 | $44.27 | $332K | $465K |
| 2026-01-22 | SELL | Bachrodt Amy | officer: SVP, Finance | 5,000 | $45.52 | $228K | $590K |
| 2026-01-07 | SELL | Sohn Catherine A. | director | 26,920 | $39.11 | $1.05M | $0 |
| 2026-01-07 | SELL | Bernstein Harold | officer: President, R&D & CMO | 25,156 | $40.20 | $1.01M | $0 |
| 2026-01-06 | SELL | Sohn Catherine A. | director | 2,493 | $38.62 | $96K | $0 |
| 2026-01-05 | SELL | Bernstein Harold | officer: President, R&D & CMO | 412 | $40.00 | $16K | $0 |
| 2026-01-02 | SELL | Bachrodt Amy | officer: SVP, Finance | 5,000 | $39.15 | $196K | $508K |
| 2026-01-02 | SELL | Bernstein Harold | officer: President, R&D & CMO | 4,432 | $40.43 | $179K | $0 |
| 2025-12-30 | SELL | Bachrodt Amy | officer: SVP, Finance | 5,000 | $40.08 | $200K | $520K |
| 2025-12-30 | SELL | Dandekar Atul | officer: CSBO | 100 | $40.36 | $4K | $424K |
Order Flow (FINRA, ~3w lag)
19.4%retail+5.1pp
36.1%dark-0.1pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.
Filing Risk Analysis
Filing Risk Scores
MAZE THERAPEUTICS: Rapid Post-IPO Dilution and Aggressive Insider Exit Planning
Overall Risk
6/10
Fraud
2/10
Dilution
9/10
Insolvency
3/10
Earnings Overstated
4/10
Hidden Liabilities
2/10
Legal
2/10
Audit Warnings
2/10
Hidden Upside
7/10
Contextually Acceptable
7/10