Humacyte (NASDAQ:HUMA) Stock Price Down 6.4% – Time to Sell?

Humacyte, Inc. (NASDAQ:HUMA) fell 6.4% on Tuesday . The stock traded as low as $4.11 and last traded at $4.11. 1,055,356 shares changed hands during trading, a decline of 68% from the average session volume of 3,293,323 shares. The stock had previously closed at $4.39.

Analysts Set New Price Targets

Several brokerages have recently issued reports on HUMA. BTIG Research reaffirmed a “buy” rating and set a $10.00 price objective on shares of Humacyte in a report on Friday, October 18th. D. Boral Capital reaffirmed a “buy” rating and set a $25.00 price target on shares of Humacyte in a research note on Monday. Piper Sandler set a $6.00 price objective on shares of Humacyte and gave the stock a “neutral” rating in a research note on Friday, October 18th. TD Cowen restated a “buy” rating and issued a $10.00 target price on shares of Humacyte in a report on Friday, October 18th. Finally, Benchmark increased their price target on shares of Humacyte from $15.00 to $17.00 and gave the company a “buy” rating in a report on Monday, December 23rd. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $13.71.

Humacyte Stock Performance

The company’s fifty day moving average price is $4.60 and its 200-day moving average price is $5.66. The stock has a market cap of $563.85 million, a P/E ratio of -3.34 and a beta of 1.32.

Insider Activity

In other news, Director Brady W. Dougan sold 427,459 shares of Humacyte 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 completion of the sale, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the chief executive officer now directly 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. Over the last 90 days, insiders have sold 1,500,000 shares of company stock valued at $6,606,799. 11.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Humacyte

Several large investors have recently added to or reduced their stakes in HUMA. Bank of New York Mellon Corp raised its stake in shares of Humacyte by 62.7% during the second quarter. Bank of New York Mellon Corp now owns 254,013 shares of the company’s stock valued at $1,219,000 after acquiring an additional 97,931 shares in the last quarter. Rhumbline Advisers raised its position in Humacyte by 87.8% during 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. Renaissance Technologies LLC lifted its holdings in shares of Humacyte by 693.0% in the 2nd quarter. Renaissance Technologies LLC now owns 600,300 shares of the company’s stock worth $2,881,000 after buying an additional 524,600 shares during the period. XTX Topco Ltd bought a new position in shares of Humacyte during the 2nd quarter worth $110,000. Finally, Profund Advisors LLC purchased a new position in shares of Humacyte during the second quarter valued at $97,000. 44.71% of the stock is owned by hedge funds and other institutional investors.

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.