Principal Financial Group Inc. Takes $83,000 Position in Humacyte, Inc. (NASDAQ:HUMA)

Principal Financial Group Inc. acquired a new position in shares of Humacyte, Inc. (NASDAQ:HUMA) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 17,196 shares of the company’s stock, valued at approximately $83,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its holdings in shares of Humacyte by 62.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 254,013 shares of the company’s stock worth $1,219,000 after acquiring an additional 97,931 shares during the period. ARS Investment Partners LLC purchased a new position in Humacyte during the second quarter worth about $559,000. Virtu Financial LLC purchased a new position in Humacyte during the first quarter worth about $197,000. Anson Funds Management LP acquired a new position in Humacyte in the 1st quarter valued at about $156,000. Finally, Vanguard Group Inc. grew its stake in shares of Humacyte by 28.7% in the 1st quarter. Vanguard Group Inc. now owns 4,019,681 shares of the company’s stock valued at $12,501,000 after buying an additional 896,415 shares during the period. Institutional investors and hedge funds own 44.71% of the company’s stock.

Humacyte Stock Down 6.4 %

NASDAQ:HUMA opened at $5.28 on Tuesday. Humacyte, Inc. has a 52 week low of $1.96 and a 52 week high of $9.97. The stock’s fifty day moving average is $6.93 and its two-hundred day moving average is $5.56. The stock has a market capitalization of $628.76 million, a price-to-earnings ratio of -5.28 and a beta of 1.47. The company has a quick ratio of 5.41, a current ratio of 5.41 and a debt-to-equity ratio of 0.61.

Humacyte (NASDAQ:HUMA) last posted its earnings results on Tuesday, August 13th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.04). Research analysts anticipate that Humacyte, Inc. will post -1.09 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $7.00 price objective on shares of Humacyte in a report on Tuesday, July 2nd. EF Hutton Acquisition Co. I raised Humacyte to a “strong-buy” rating in a research note on Monday, September 9th. Benchmark reiterated a “buy” rating and set a $15.00 price target on shares of Humacyte in a report on Thursday, September 5th. Finally, BTIG Research boosted their price objective on shares of Humacyte from $8.00 to $11.00 and gave the company a “buy” rating in a report on Monday, July 15th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $8.60.

Insider Transactions at Humacyte

In related news, Director Brady W. Dougan sold 352,112 shares of Humacyte stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $6.35, for a total value of $2,235,911.20. Following the completion of the transaction, the director now owns 3,677,262 shares in the company, valued at $23,350,613.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Humacyte news, Director Brady W. Dougan sold 352,112 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $6.35, for a total value of $2,235,911.20. Following the completion of the transaction, the director now owns 3,677,262 shares of the company’s stock, valued at approximately $23,350,613.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brady W. Dougan sold 252,676 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $6.71, for a total transaction of $1,695,455.96. Following the completion of the transaction, the director now owns 4,306,464 shares of the company’s stock, valued at approximately $28,896,373.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,084,153 shares of company stock valued at $6,869,996. 23.10% of the stock is currently owned by corporate insiders.

About Humacyte

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.