Humacyte (NASDAQ:HUMA) Sees Strong Trading Volume on Analyst Upgrade

Shares of Humacyte, Inc. (NASDAQ:HUMA) saw unusually-strong trading volume on Monday after Benchmark raised their price target on the stock from $15.00 to $17.00. Benchmark currently has a buy rating on the stock. Approximately 4,531,517 shares changed hands during trading, an increase of 65% from the previous session’s volume of 2,740,317 shares.The stock last traded at $4.41 and had previously closed at $4.64.

Other analysts also recently issued research reports about the stock. D. Boral Capital reaffirmed a “buy” rating and set a $25.00 price target on shares of Humacyte in a research note on Friday, December 20th. EF Hutton Acquisition Co. I raised Humacyte to a “strong-buy” rating in a research report on Monday, September 9th. HC Wainwright reaffirmed a “buy” rating and set a $15.00 price target (up previously from $12.00) on shares of Humacyte in a research report on Friday, December 20th. 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 target on shares of Humacyte in a report on Friday, October 18th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Humacyte currently has an average rating of “Buy” and a consensus price target of $13.71.

Insider Transactions at Humacyte

In other Humacyte news, Director Brady W. Dougan sold 427,459 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $4.34, for a total transaction of $1,855,172.06. Following the transaction, the director now owns 1,992,253 shares of the company’s stock, valued at approximately $8,646,378.02. The trade was a 17.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Laura E. Niklason sold 261,369 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $4.40, for a total transaction of $1,150,023.60. Following the sale, the chief executive officer now owns 1,730,884 shares of the company’s stock, valued at approximately $7,615,889.60. The trade was a 13.12 % decrease in their ownership of the stock. 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 ninety days. Insiders own 11.20% of the company’s stock.

Institutional Trading of Humacyte

Institutional investors have recently added to or reduced their stakes in the stock. nVerses Capital LLC purchased a new position in Humacyte during the 2nd quarter valued at about $28,000. Concurrent Investment Advisors LLC acquired a new stake in shares of Humacyte during the third quarter worth about $75,000. Principal Financial Group Inc. purchased a new stake in Humacyte in the second quarter valued at approximately $83,000. FORA Capital LLC purchased a new position in Humacyte during the 3rd quarter worth $96,000. Finally, Profund Advisors LLC acquired a new position in Humacyte in the 2nd quarter valued at about $97,000. Institutional investors and hedge funds own 44.71% of the company’s stock.

Humacyte Stock Performance

The firm has a market cap of $567.62 million, a price-to-earnings ratio of -3.37 and a beta of 1.38. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.61. The stock has a fifty day moving average price of $4.81 and a 200-day moving average price of $5.81.

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.