Humacyte (NASDAQ:HUMA) Stock Price Down 4.7%

Humacyte, Inc. (NASDAQ:HUMA) was down 4.7% during mid-day trading on Tuesday . The company traded as low as $6.60 and last traded at $6.72. Approximately 811,539 shares were traded during trading, a decline of 63% from the average daily volume of 2,171,472 shares. The stock had previously closed at $7.05.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Benchmark restated a “buy” rating and issued a $15.00 price objective on shares of Humacyte in a report on Monday, August 12th. Cantor Fitzgerald reissued an “overweight” rating and issued a $7.00 price target on shares of Humacyte in a research report on Tuesday, July 2nd. Finally, BTIG Research raised their price objective on Humacyte from $8.00 to $11.00 and gave the company a “buy” rating in a research report on Monday, July 15th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Humacyte currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.60.

Humacyte Trading Down 5.5 %

The firm’s 50 day moving average price is $6.79 and its 200-day moving average price is $5.40. The company has a debt-to-equity ratio of 0.61, a current ratio of 8.37 and a quick ratio of 8.37. The stock has a market cap of $793.10 million, a P/E ratio of -6.69 and a beta of 1.52.

Insider Activity at Humacyte

In other Humacyte news, Director Brady W. Dougan sold 271,518 shares of Humacyte stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $7.30, for a total value of $1,982,081.40. Following the completion of the sale, the director now owns 4,559,140 shares of the company’s stock, valued at approximately $33,281,722. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Humacyte news, Director Brady W. Dougan sold 271,518 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $7.30, for a total transaction of $1,982,081.40. Following the transaction, the director now owns 4,559,140 shares in the company, valued at approximately $33,281,722. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Heather Ledbetter Prichard sold 188,886 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $8.14, for a total transaction of $1,537,532.04. Following the sale, the chief operating officer now directly owns 2,625 shares in the company, valued at approximately $21,367.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,628,820 shares of company stock valued at $12,464,121. 23.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Humacyte

Hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new stake in shares of Humacyte in the first quarter worth $197,000. Private Advisor Group LLC lifted its stake in shares of Humacyte by 232.7% in the 1st quarter. Private Advisor Group LLC now owns 317,624 shares of the company’s stock worth $988,000 after purchasing an additional 222,144 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Humacyte by 28.7% in the first quarter. Vanguard Group Inc. now owns 4,019,681 shares of the company’s stock worth $12,501,000 after buying an additional 896,415 shares during the last quarter. Victory Capital Management Inc. purchased a new position in shares of Humacyte in the fourth quarter worth approximately $29,000. Finally, Capstone Investment Advisors LLC bought a new stake in Humacyte during the first quarter valued at approximately $972,000. 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.