MAIA Biotechnology (NYSEAMERICAN:MAIA) Shares Climb 0.8% - Here's Why

Key Points

• MAIA Biotechnology shares rose 0.8% to $1.19 in midday trading, although volume was 68% below the stock’s average daily volume. The company has a market capitalization of approximately $73.5 million.
• The company reported a quarterly loss of $0.13 per share, missing analysts’ consensus estimate of a $0.11 loss; analysts expect a full-year loss of $0.54 per share.
• Insiders have been buying shares, including purchases by the CEO and a director, while institutional investors also established new positions. Insiders own 19.81% of the company, compared with 5.65% held by institutional investors.

MAIA Biotechnology, Inc. (NYSEAMERICAN:MAIA - Get Free Report)'s stock price was up 0.8% during mid-day trading on Tuesday. The stock traded as high as $1.21 and last traded at $1.19. Approximately 227,056 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 706,538 shares. The stock had previously closed at $1.18.

MAIA Biotechnology Stock Performance

The company has a market capitalization of $73.47 million, a PE ratio of -1.92 and a beta of 0.27. The firm's 50-day simple moving average is $1.32 and its 200 day simple moving average is $1.34.

MAIA Biotechnology (NYSEAMERICAN:MAIA - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.02). As a group, equities analysts anticipate that MAIA Biotechnology, Inc. will post -0.54 earnings per share for the current year.

Insider Transactions at MAIA Biotechnology

In other news, CEO Vlad Vitoc purchased 73,000 shares of the firm's stock in a transaction dated Monday, September 14th. The shares were acquired at an average price of $1.37 per share, with a total value of $100,010.00. Following the purchase, the chief executive officer directly owned 1,049,121 shares of the company's stock, valued at $1,437,295.77. The trade was a 7.48% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ramiro Guerrero purchased 78,239 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was purchased at an average price of $1.39 per share, for a total transaction of $108,752.21. Following the acquisition, the director owned 689,081 shares in the company, valued at approximately $957,822.59. This trade represents a 12.81% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders acquired 258,078 shares of company stock valued at $352,426. 19.81% of the stock is currently owned by corporate insiders.

Institutional Trading of MAIA Biotechnology

A number of institutional investors have recently bought and sold shares of MAIA. Centric Wealth Management acquired a new stake in MAIA Biotechnology in the second quarter valued at $1,107,000. Cable Car Capital LP purchased a new stake in shares of MAIA Biotechnology in the 2nd quarter worth about $741,000. BlackRock Inc. purchased a new stake in shares of MAIA Biotechnology in the 2nd quarter worth about $580,000. Corsair Capital Management L.P. acquired a new stake in MAIA Biotechnology in the 1st quarter valued at about $140,000. Finally, Susquehanna International Group LLP acquired a new stake in MAIA Biotechnology in the 2nd quarter valued at about $51,000. 5.65% of the stock is currently owned by hedge funds and other institutional investors.

MAIA Biotechnology Company Profile

MAIA Biotechnology, Inc is a clinical-stage biotechnology company focused on developing targeted therapies for cancer. The company's research is centered on telomere biology, an area that seeks to exploit the mechanisms cancer cells use to maintain their ability to divide and survive.

MAIA's lead investigational product is atebimetostat, also known as THIO or 6-thio-2'-deoxyguanosine. The small-molecule therapy is designed to induce telomere dysfunction and promote the death of cancer cells.

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