Humacyte (NASDAQ:HUMA) Stock Price Up 10% – Here’s What Happened

Humacyte, Inc. (NASDAQ:HUMA)’s stock price shot up 10% on Wednesday . The stock traded as high as $4.54 and last traded at $4.53. 2,101,798 shares changed hands during trading, a decline of 37% from the average session volume of 3,351,322 shares. The stock had previously closed at $4.12.

Wall Street Analysts Forecast Growth

HUMA has been the subject of several research analyst reports. Benchmark boosted their price objective on Humacyte from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Piper Sandler set a $6.00 price objective on shares of Humacyte and gave the stock a “neutral” rating in a research report on Friday, October 18th. D. Boral Capital restated a “buy” rating and set a $25.00 price objective on shares of Humacyte in a report on Monday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $13.00 target price on shares of Humacyte in a research note on Friday, September 20th. Finally, HC Wainwright reissued a “buy” rating and issued a $15.00 price target (up previously from $12.00) on shares of Humacyte in a research note on Friday, December 20th. One 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. According to data from MarketBeat.com, Humacyte presently has a consensus rating of “Buy” and a consensus price target of $13.71.

Humacyte Stock Up 11.2 %

The firm’s 50 day simple moving average is $4.64 and its 200-day simple moving average is $5.68. 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 stock has a market capitalization of $576.43 million, a price-to-earnings ratio of -3.42 and a beta of 1.32.

Insider Activity

In related news, Director Brady W. Dougan sold 427,459 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 1,992,253 shares of the company’s stock, valued at approximately $8,646,378.02. This trade represents a 17.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Laura E. Niklason sold 261,369 shares of the company’s stock in a transaction on 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 directly owns 1,730,884 shares in the company, valued at $7,615,889.60. This trade represents a 13.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,500,000 shares of company stock worth $6,606,799 in the last quarter. Corporate insiders own 11.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HUMA. Bank of New York Mellon Corp lifted its stake 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 valued at $1,219,000 after purchasing an additional 97,931 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Humacyte in the second quarter valued at approximately $83,000. Rhumbline Advisers boosted its stake in shares of Humacyte by 87.8% during the 2nd quarter. Rhumbline Advisers now owns 110,919 shares of the company’s stock worth $532,000 after acquiring an additional 51,858 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Humacyte by 693.0% during the 2nd quarter. Renaissance Technologies LLC now owns 600,300 shares of the company’s stock worth $2,881,000 after acquiring an additional 524,600 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in Humacyte in the 2nd quarter valued at $110,000. 44.71% of the stock is currently owned by institutional investors and hedge funds.

Humacyte Company Profile

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.