Humacyte (NASDAQ:HUMA) Shares Up 6% – Here’s What Happened

Humacyte, Inc. (NASDAQ:HUMA) traded up 6% during mid-day trading on Thursday . The stock traded as high as $4.79 and last traded at $4.78. 920,995 shares were traded during trading, a decline of 67% from the average session volume of 2,770,237 shares. The stock had previously closed at $4.51.

Wall Street Analyst Weigh In

HUMA has been the subject of a number of analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $13.00 target price on shares of Humacyte in a research note on Friday, September 20th. BTIG Research reiterated a “buy” rating and issued a $10.00 price target on shares of Humacyte in a report on Friday, October 18th. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 target price (up from $12.00) on shares of Humacyte in a report on Friday, December 20th. TD Cowen reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Humacyte in a research note on Friday, October 18th. Finally, EF Hutton Acquisition Co. I raised Humacyte to a “strong-buy” rating in a report on Monday, September 9th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Humacyte currently has a consensus rating of “Buy” and a consensus price target of $13.71.

Humacyte Price Performance

The company’s 50 day simple moving average is $4.76 and its 200-day simple moving average is $5.78. 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 company has a market capitalization of $643.14 million, a price-to-earnings ratio of -3.81 and a beta of 1.38.

Insider Buying and Selling at Humacyte

In other news, CEO Laura E. Niklason sold 811,172 shares of the business’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 completion of the sale, the chief executive officer now directly owns 2,419,712 shares of the company’s stock, valued at $10,743,521.28. The trade was a 25.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Brady W. Dougan sold 427,459 shares of Humacyte stock in a transaction dated 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 completion of the transaction, the director now directly owns 1,992,253 shares in the company, valued at $8,646,378.02. This represents a 17.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,500,000 shares of company stock worth $6,606,799. Insiders own 11.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its holdings in Humacyte by 62.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 254,013 shares of the company’s stock worth $1,219,000 after buying an additional 97,931 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in Humacyte during the 2nd quarter valued at approximately $83,000. nVerses Capital LLC purchased a new stake in Humacyte during the 2nd quarter worth approximately $28,000. Rhumbline Advisers raised 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 valued at $532,000 after purchasing an additional 51,858 shares in the last quarter. Finally, Endowment Wealth Management Inc. boosted its stake in shares of Humacyte by 3.1% during the 2nd quarter. Endowment Wealth Management Inc. now owns 100,518 shares of the company’s stock valued at $482,000 after buying an additional 3,000 shares during the last quarter. 44.71% of the stock is currently 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.