Humacyte (NASDAQ:HUMA) Trading 6.9% Higher – Still a Buy?

Humacyte, Inc. (NASDAQ:HUMA) was up 6.9% during trading on Tuesday . The stock traded as high as $5.28 and last traded at $5.28. Approximately 542,945 shares changed hands during trading, a decline of 82% from the average daily volume of 2,959,103 shares. The stock had previously closed at $4.94.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. D. Boral Capital reiterated a “buy” rating and issued a $25.00 target price on shares of Humacyte in a report on Friday, December 20th. BTIG Research reiterated a “buy” rating and set a $10.00 target price on shares of Humacyte in a research report on Friday, October 18th. 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. Piper Sandler set a $6.00 price target on shares of Humacyte and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Benchmark increased their price objective on shares of Humacyte from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. 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, the stock currently has a consensus rating of “Buy” and a consensus target price of $13.71.

Humacyte Stock Performance

The stock has a market cap of $589.02 million, a price-to-earnings ratio of -3.49 and a beta of 1.32. The company’s fifty day simple moving average is $4.69 and its two-hundred day simple moving average is $5.69. 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 Buying and Selling

In related news, Director Brady W. Dougan sold 427,459 shares of the company’s 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 owns 1,992,253 shares in the company, valued at approximately $8,646,378.02. This represents a 17.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Laura E. Niklason sold 811,172 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were 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 in the company, valued at approximately $10,743,521.28. This trade represents a 25.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,500,000 shares of company stock worth $6,606,799 in the last quarter. Insiders own 11.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its stake in Humacyte by 66.1% in the 3rd quarter. State Street Corp now owns 4,764,155 shares of the company’s stock valued at $25,917,000 after buying an additional 1,895,529 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Humacyte by 9.6% during the third quarter. Geode Capital Management LLC now owns 2,040,218 shares of the company’s stock valued at $11,101,000 after acquiring an additional 179,120 shares during the last quarter. Millennium Management LLC increased its position in shares of Humacyte by 504.3% during the 2nd quarter. Millennium Management LLC now owns 1,599,307 shares of the company’s stock valued at $7,677,000 after purchasing an additional 1,334,641 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Humacyte by 10.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 721,318 shares of the company’s stock valued at $3,924,000 after purchasing an additional 66,946 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake 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 purchasing an additional 524,600 shares during the period. 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.