Humacyte (NASDAQ:HUMA) Stock Price Down 3% – Here’s Why

Shares of Humacyte, Inc. (NASDAQ:HUMA) fell 3% during mid-day trading on Tuesday . The company traded as low as $4.43 and last traded at $4.51. 3,525,988 shares changed hands during mid-day trading, an increase of 27% from the average session volume of 2,777,449 shares. The stock had previously closed at $4.65.

Analyst Ratings Changes

Several equities research analysts recently issued reports on HUMA shares. Piper Sandler set a $6.00 price objective on Humacyte and gave the company a “neutral” rating in a research note on Friday, October 18th. TD Cowen reissued a “buy” rating and set a $10.00 price objective on shares of Humacyte in a report on Friday, October 18th. Benchmark upped their price objective on shares of Humacyte from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday. HC Wainwright reiterated a “buy” rating and set a $15.00 target price (up from $12.00) on shares of Humacyte in a research report on Friday, December 20th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $13.00 price target on shares of Humacyte in a report on Friday, September 20th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $13.71.

Humacyte Price Performance

The firm has a market capitalization of $567.62 million, a P/E ratio of -3.37 and a beta of 1.38. The business’s 50-day simple moving average is $4.76 and its 200 day simple moving average is $5.78. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.61.

Insider Activity at Humacyte

In other news, Director Brady W. Dougan sold 427,459 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $4.34, for a total value of $1,855,172.06. Following the transaction, the director now owns 1,992,253 shares in the company, valued at approximately $8,646,378.02. This trade represents a 17.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Laura E. Niklason sold 811,172 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $4.44, for a total transaction of $3,601,603.68. Following the sale, the chief executive officer now owns 2,419,712 shares of the company’s stock, valued at $10,743,521.28. This represents a 25.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,500,000 shares of company stock valued at $6,606,799. Insiders own 11.20% of the company’s stock.

Hedge Funds Weigh In On Humacyte

A number of hedge funds have recently modified their holdings of the company. Barclays PLC grew its stake in shares of Humacyte by 177.6% in the third quarter. Barclays PLC now owns 236,742 shares of the company’s stock worth $1,288,000 after purchasing an additional 151,458 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Humacyte by 9.6% in the third quarter. Geode Capital Management LLC now owns 2,040,218 shares of the company’s stock worth $11,101,000 after buying an additional 179,120 shares during the period. XTX Topco Ltd boosted its position in Humacyte by 48.8% during the 3rd quarter. XTX Topco Ltd now owns 34,049 shares of the company’s stock valued at $185,000 after acquiring an additional 11,172 shares in the last quarter. Insigneo Advisory Services LLC bought a new position in shares of Humacyte in the 3rd quarter worth approximately $109,000. Finally, Wellington Management Group LLP lifted its stake in shares of Humacyte by 30.9% in the 3rd quarter. Wellington Management Group LLP now owns 254,411 shares of the company’s stock valued at $1,384,000 after purchasing an additional 60,087 shares during the period. Hedge funds and other institutional investors own 44.71% of the company’s stock.

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.