MAIA Biotechnology (NYSEAMERICAN:MAIA) Shares Down 0.9% - Here's Why

Key Points

• MAIA Biotechnology shares fell 0.9% to $1.16, with trading volume down 68% versus the average. The stock remains below its 50-day and 200-day moving averages.
• The company reported a quarterly loss of $0.13 per share, missing analysts’ $0.11-loss estimate; analysts expect a full-year loss of $0.54 per share.
• Insiders bought 258,078 shares worth $352,426 during the last quarter, while institutional investors—including BlackRock and Cable Car Capital—also established new positions.

MAIA Biotechnology, Inc. (NYSEAMERICAN:MAIA - Get Free Report)'s stock price was down 0.9% on Wednesday. The company traded as low as $1.11 and last traded at $1.16. Approximately 236,234 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 741,666 shares. The stock had previously closed at $1.17.

MAIA Biotechnology Price Performance

The firm has a market cap of $71.62 million, a PE ratio of -1.87 and a beta of 0.27. The company has a 50 day simple moving average of $1.25 and a 200-day simple moving average of $1.47.

MAIA Biotechnology (NYSEAMERICAN:MAIA - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.02). On average, sell-side analysts predict that MAIA Biotechnology, Inc. will post -0.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other MAIA Biotechnology news, CEO Vlad Vitoc purchased 73,000 shares of the business's stock in a transaction on Monday, September 14th. The stock was acquired at an average cost of $1.37 per share, for a total transaction of $100,010.00. Following the completion of the transaction, the chief executive officer directly owned 1,049,121 shares in the company, valued at approximately $1,437,295.77. This represents a 7.48% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ramiro Guerrero acquired 78,239 shares of MAIA Biotechnology stock in a transaction dated Thursday, August 27th. The shares were bought at an average cost of $1.39 per share, for a total transaction of $108,752.21. Following the completion of the purchase, the director directly owned 689,081 shares of the company's stock, valued at approximately $957,822.59. The trade was a 12.81% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders purchased 258,078 shares of company stock worth $352,426. 19.81% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Susquehanna International Group LLP purchased a new stake in MAIA Biotechnology during the 2nd quarter valued at about $51,000. Cable Car Capital LP purchased a new position in MAIA Biotechnology in the 2nd quarter worth approximately $741,000. BlackRock Inc. bought a new stake in MAIA Biotechnology in the second quarter valued at approximately $580,000. Centric Wealth Management bought a new stake in MAIA Biotechnology in the second quarter valued at approximately $1,107,000. Finally, PVG Asset Management Corp bought a new stake in MAIA Biotechnology in the first quarter valued at approximately $46,000. Hedge funds and other institutional investors own 5.65% of the company's stock.

About MAIA Biotechnology

MAIA Biotechnology, Inc is a clinical-stage biopharmaceutical company focused on developing targeted cancer therapies. The company's research is centered on treatments designed to address telomere biology, a process that plays an important role in the growth and survival of cancer cells.

MAIA's lead investigational product is THIO, also known as 6-thio-2'-deoxyguanosine, a telomere-targeting agent intended to selectively affect cancer cells. The company has been evaluating THIO in combination with immune checkpoint inhibitors for patients with advanced or metastatic non-small cell lung cancer, including through its THIO-101 clinical program.

MAIA Biotechnology is headquartered in Chicago and is led by Chief Executive Officer Vlad Vitoc, M.D.

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