Humacyte (NASDAQ:HUMA) Trading Down 6.7% – Here’s What Happened

Humacyte, Inc. (NASDAQ:HUMA)’s share price was down 6.7% during mid-day trading on Tuesday . The stock traded as low as $4.04 and last traded at $4.05. Approximately 545,669 shares were traded during trading, a decline of 77% from the average daily volume of 2,407,047 shares. The stock had previously closed at $4.34.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on HUMA shares. D. Boral Capital reiterated a “buy” rating and set a $25.00 target price on shares of Humacyte in a research note on Thursday, November 21st. Piper Sandler set a $6.00 price objective on shares of Humacyte and gave the stock a “neutral” rating in a research report on Friday, October 18th. Benchmark reissued a “buy” rating and set a $15.00 target price on shares of Humacyte in a research report on Thursday, October 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $13.00 price target on shares of Humacyte in a report on Friday, September 20th. Finally, TD Cowen reissued a “buy” rating and set a $10.00 price objective on shares of Humacyte in a report on Friday, October 18th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Humacyte has an average rating of “Buy” and an average target price of $13.00.

Humacyte Trading Up 1.7 %

The stock has a market cap of $453.09 million, a PE ratio of -2.69 and a beta of 1.38. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.61. The firm has a fifty day simple moving average of $4.89 and a two-hundred day simple moving average of $5.88.

Insider Activity at Humacyte

In related news, CEO Laura E. Niklason sold 811,172 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $4.44, for a total transaction of $3,601,603.68. Following the transaction, the chief executive officer now directly owns 2,419,712 shares of the company’s stock, valued at approximately $10,743,521.28. This trade represents a 25.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Brady W. Dougan sold 427,459 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $4.34, for a total value of $1,855,172.06. Following the completion of the sale, the director now owns 1,992,253 shares of the company’s stock, valued at $8,646,378.02. The trade was a 17.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,500,000 shares of company stock valued at $6,606,799 over the last three months. 11.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Humacyte

Several hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its stake in shares of Humacyte by 62.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 254,013 shares of the company’s stock valued at $1,219,000 after purchasing an additional 97,931 shares during the period. Principal Financial Group Inc. purchased a new position in Humacyte during the second quarter valued at $83,000. nVerses Capital LLC bought a new stake in shares of Humacyte during the 2nd quarter valued at $28,000. Rhumbline Advisers grew its position in shares of Humacyte by 87.8% in the 2nd quarter. Rhumbline Advisers now owns 110,919 shares of the company’s stock worth $532,000 after buying an additional 51,858 shares during the period. Finally, Endowment Wealth Management Inc. increased its stake in shares of Humacyte by 3.1% in the 2nd quarter. Endowment Wealth Management Inc. now owns 100,518 shares of the company’s stock worth $482,000 after acquiring an additional 3,000 shares in the last quarter. 44.71% of the stock is owned by hedge funds and other institutional investors.

Humacyte Company Profile

Humacyte, Inc engages in the development and manufacture of off-the-shelf, implantable, and bioengineered human tissues for the treatment of diseases and conditions across a range of anatomic locations in multiple therapeutic areas. The company using its proprietary and scientific technology platform to engineer and manufacture human acellular vessels (HAVs) to be implanted into patient without inducing a foreign body response or leading to immune rejection.