MAIA Biotechnology (NYSEAMERICAN:MAIA) Shares Up 3.5% - What's Next?

Key Points

• MAIA Biotechnology's shares rose 3.5% on Tuesday, trading as high as $1.97, with a trading volume of 2,365,210 shares, significantly exceeding its average volume.
• The company has a market capitalization of $59.05 million and is currently in a Phase II clinical study for its lead product candidate, THIO, targeting non-small cell lung cancer.
• Recent investment activity shows several hedge funds have acquired positions in MAIA Biotechnology, with Centric Wealth Management increasing its holdings by 740.2% during the second quarter.

MAIA Biotechnology, Inc. (NYSEAMERICAN:MAIA - ) shares shot up 3.5% on Tuesday . The company traded as high as $1.97 and last traded at $1.79. 2,365,210 shares were traded during mid-day trading, an increase of 346% from the average session volume of 530,726 shares. The stock had previously closed at $1.73.

MAIA Biotechnology Price Performance

The firm has a market capitalization of $59.05 million, a P/E ratio of -3.14 and a beta of 0.01. The stock's 50-day simple moving average is $1.58 and its two-hundred day simple moving average is $1.70.

Hedge Funds Weigh In On MAIA Biotechnology

Hedge funds and other institutional investors have recently modified their holdings of the stock. Centerpoint Advisory Group bought a new position in shares of MAIA Biotechnology during the second quarter worth $28,000. Marshall Wace LLP bought a new position in shares of MAIA Biotechnology during the second quarter worth $29,000. Jane Street Group LLC bought a new position in shares of MAIA Biotechnology during the second quarter worth $52,000. Geode Capital Management LLC boosted its position in shares of MAIA Biotechnology by 3.6% during the second quarter. Geode Capital Management LLC now owns 222,183 shares of the company's stock worth $400,000 after acquiring an additional 7,746 shares during the last quarter. Finally, Centric Wealth Management boosted its position in shares of MAIA Biotechnology by 740.2% during the second quarter. Centric Wealth Management now owns 573,398 shares of the company's stock worth $1,032,000 after acquiring an additional 505,150 shares during the last quarter. Institutional investors own 5.65% of the company's stock.

About MAIA Biotechnology

MAIA Biotechnology, Inc, a clinical stage biotechnology company, engages in the discovery, development, and commercialization of therapies targeting cancer. The company's lead product candidate is THIO, a telomere-targeting agent that is in Phase II clinical study to evaluate its activity in patients with non-small cell lung cancer.

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