Humacyte (NASDAQ:HUMA) Trading Down 6.7% – Here’s Why

Humacyte, Inc. (NASDAQ:HUMA)’s stock price dropped 6.7% during trading on Tuesday . The company traded as low as $4.04 and last traded at $4.05. Approximately 545,669 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 2,407,047 shares. The stock had previously closed at $4.34.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on HUMA shares. Piper Sandler set a $6.00 price objective on shares of Humacyte and gave the stock a “neutral” rating in a report on Friday, October 18th. BTIG Research reaffirmed a “buy” rating and set a $10.00 price target on shares of Humacyte in a research note on Friday, October 18th. Benchmark reiterated a “buy” rating and issued a $15.00 price objective on shares of Humacyte in a report on Thursday, October 10th. D. Boral Capital reissued a “buy” rating and set a $25.00 price objective on shares of Humacyte in a report on Thursday, November 21st. Finally, 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. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $13.00.

Humacyte Stock Down 17.5 %

The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.61. The stock has a market cap of $450.58 million, a P/E ratio of -3.04 and a beta of 1.38. The company has a 50-day simple moving average of $4.96 and a two-hundred day simple moving average of $5.93.

Insiders Place Their Bets

In related news, CEO Laura E. Niklason sold 261,369 shares of Humacyte stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $4.40, for a total value of $1,150,023.60. Following the sale, the chief executive officer now owns 1,730,884 shares in the company, valued at $7,615,889.60. The trade was a 13.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction, the director now owns 1,992,253 shares of the company’s stock, valued at $8,646,378.02. This trade represents a 17.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,500,000 shares of company stock valued at $6,606,799 in the last quarter. Insiders own 11.20% of the company’s stock.

Hedge Funds Weigh In On Humacyte

Several hedge funds and other institutional investors have recently modified their holdings of the stock. nVerses Capital LLC purchased a new position in shares of Humacyte during the 2nd quarter worth approximately $28,000. Concurrent Investment Advisors LLC bought a new position in Humacyte in the third quarter worth $75,000. Principal Financial Group Inc. purchased a new position in Humacyte during the second quarter valued at $83,000. FORA Capital LLC bought a new stake in shares of Humacyte during the 3rd quarter valued at $96,000. Finally, Profund Advisors LLC purchased a new position in Humacyte during the 2nd quarter valued at about $97,000. Hedge funds and other institutional investors own 44.71% of the company’s stock.

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.