Humacyte (NASDAQ:HUMA) Trading Down 3.7%

Shares of Humacyte, Inc. (NASDAQ:HUMA) were down 3.7% during trading on Monday . The stock traded as low as $5.37 and last traded at $5.43. Approximately 178,347 shares traded hands during trading, a decline of 92% from the average daily volume of 2,186,756 shares. The stock had previously closed at $5.64.

Analysts Set New Price Targets

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

Humacyte Stock Performance

The business’s fifty day simple moving average is $6.91 and its 200-day simple moving average is $5.57. The firm has a market cap of $635.91 million, a P/E ratio of -5.60 and a beta of 1.47. The company has a current ratio of 5.41, a quick 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). As a group, sell-side analysts expect that Humacyte, Inc. will post -1.09 earnings per share for the current year.

Insider Activity

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

Institutional Investors Weigh In On Humacyte

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. nVerses Capital LLC bought a new position in Humacyte in the second quarter worth $28,000. Victory Capital Management Inc. bought a new position in shares of Humacyte in the 4th quarter worth about $29,000. China Universal Asset Management Co. Ltd. lifted its position in Humacyte by 65.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 19,883 shares of the company’s stock valued at $62,000 after acquiring an additional 7,897 shares during the period. Hartline Investment Corp bought a new stake in Humacyte during the first quarter worth about $70,000. Finally, Principal Financial Group Inc. purchased a new stake in Humacyte in the second quarter worth about $83,000. 44.71% of the stock is owned by hedge funds and other institutional investors.

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.