MAIA Biotechnology (NYSEAMERICAN:MAIA) Trading Up 3.3% - Should You Buy?

Key Points

• MAIA Biotechnology's stock price increased by 3.3%, closing at $1.58 after trading as high as $1.59, despite a significant decrease in trading volume.
• Director Stan Smith acquired 33,333 shares at an average price of $1.50, increasing his ownership in the company by 2.62%.
• Institutional ownership remains low, with just 5.65% of the stock held by hedge funds and institutional investors, though notable acquisitions have occurred during recent quarters.

MAIA Biotechnology, Inc. (NYSEAMERICAN:MAIA - Get Free Report) was up 3.3% on Friday . The company traded as high as $1.59 and last traded at $1.58. Approximately 102,294 shares were traded during trading, a decline of 73% from the average daily volume of 384,973 shares. The stock had previously closed at $1.53.

MAIA Biotechnology Stock Performance

The stock has a 50-day moving average of $1.69 and a two-hundred day moving average of $1.75. The company has a market cap of $51.30 million, a P/E ratio of -2.73 and a beta of 0.01.

Insider Activity

In other MAIA Biotechnology news, Director Stan Smith acquired 33,333 shares of the business's stock in a transaction dated Tuesday, June 3rd. The stock was bought at an average price of $1.50 per share, with a total value of $49,999.50. Following the purchase, the director owned 1,305,059 shares of the company's stock, valued at approximately $1,957,588.50. This trade represents a 2.62% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 32.32% of the company's stock.

Hedge Funds Weigh In On MAIA Biotechnology

Large investors have recently bought and sold shares of the stock. Jane Street Group LLC bought a new stake in MAIA Biotechnology in the fourth quarter valued at approximately $77,000. Geode Capital Management LLC grew its holdings in shares of MAIA Biotechnology by 3.6% in the second quarter. Geode Capital Management LLC now owns 222,183 shares of the company's stock worth $400,000 after purchasing an additional 7,746 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of MAIA Biotechnology in the second quarter worth $29,000. Centric Wealth Management raised its holdings in MAIA Biotechnology by 740.2% during the 2nd quarter. Centric Wealth Management now owns 573,398 shares of the company's stock valued at $1,032,000 after buying an additional 505,150 shares during the last quarter. Finally, Centerpoint Advisory Group bought a new stake in MAIA Biotechnology during the 2nd quarter valued at $28,000. 5.65% of the stock is owned by hedge funds and other institutional investors.

MAIA Biotechnology Company Profile

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.