Humacyte (NASDAQ:HUMA) Shares Down 5.8% – What’s Next?

Humacyte, Inc. (NASDAQ:HUMA)’s stock price traded down 5.8% during mid-day trading on Monday . The stock traded as low as $5.12 and last traded at $5.18. 3,711,508 shares changed hands during mid-day trading, an increase of 31% from the average session volume of 2,841,564 shares. The stock had previously closed at $5.50.

Analyst Ratings Changes

A number of research firms have recently commented on HUMA. HC Wainwright reissued a “buy” rating and set a $15.00 target price (up from $12.00) on shares of Humacyte in a research report on Friday, December 20th. Cantor Fitzgerald reissued an “overweight” rating and issued a $13.00 price objective on shares of Humacyte in a research report on Friday, September 20th. Piper Sandler set a $6.00 target price on Humacyte and gave the company a “neutral” rating in a research note on Friday, October 18th. EF Hutton Acquisition Co. I upgraded Humacyte to a “strong-buy” rating in a research note on Monday, September 9th. Finally, TD Cowen restated a “buy” rating and set a $10.00 price objective on shares of Humacyte in a research note on Friday, October 18th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $13.71.

Humacyte Stock Performance

The company has a fifty day moving average of $4.77 and a two-hundred day moving average of $5.75. The stock has a market capitalization of $645.66 million, a P/E ratio of -3.83 and a beta of 1.38. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.10 and a quick ratio of 1.10.

Insider Activity

In related news, Director Brady W. Dougan sold 427,459 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 1,992,253 shares in the company, valued at $8,646,378.02. The trade was a 17.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Laura E. Niklason sold 811,172 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $4.44, for a total value of $3,601,603.68. Following the transaction, the chief executive officer now owns 2,419,712 shares of the company’s stock, valued at approximately $10,743,521.28. The trade was a 25.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,500,000 shares of company stock worth $6,606,799. 11.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position 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 worth $1,219,000 after buying an additional 97,931 shares during the period. Principal Financial Group Inc. acquired a new position in shares of Humacyte during the second quarter valued at $83,000. nVerses Capital LLC bought a new stake in shares of Humacyte during the second quarter valued at about $28,000. Rhumbline Advisers grew its position in 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 buying an additional 51,858 shares in the last quarter. Finally, Endowment Wealth Management Inc. increased its stake in 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 period. Institutional investors own 44.71% of the company’s stock.

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.