Humacyte (NASDAQ:HUMA) Shares Down 2.9% – What’s Next?

Shares of Humacyte, Inc. (NASDAQ:HUMA) were down 2.9% during trading on Monday . The stock traded as low as $5.35 and last traded at $5.43. Approximately 782,356 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 2,322,544 shares. The stock had previously closed at $5.59.

Analyst Ratings Changes

A number of brokerages have weighed in on HUMA. Piper Sandler set a $6.00 price target on Humacyte and gave the stock a “neutral” rating in a research note on Friday, October 18th. EF Hutton Acquisition Co. I raised Humacyte to a “strong-buy” rating in a research note on Monday, September 9th. Benchmark restated a “buy” rating and issued a $15.00 price target on shares of Humacyte in a report on Thursday, October 10th. Cantor Fitzgerald reiterated an “overweight” rating and set a $13.00 price objective on shares of Humacyte in a report on Friday, September 20th. Finally, TD Cowen restated a “buy” rating and issued a $10.00 target price on shares of Humacyte in a report on Friday, October 18th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Humacyte currently has a consensus rating of “Buy” and an average price target of $10.00.

Humacyte Stock Down 1.8 %

The company has a current ratio of 5.41, a quick ratio of 5.41 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $633.53 million, a price-to-earnings ratio of -5.32 and a beta of 1.45. The firm has a 50 day moving average price of $5.66 and a two-hundred day moving average price of $6.05.

Humacyte (NASDAQ:HUMA) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). On average, equities analysts expect that Humacyte, Inc. will post -1.09 earnings per share for the current fiscal year.

Insider Activity at Humacyte

In related news, Director Brady W. Dougan sold 252,676 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $6.71, for a total value of $1,695,455.96. Following the completion of the sale, the director now directly owns 4,306,464 shares in the company, valued at approximately $28,896,373.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Kathleen Sebelius sold 5,182 shares of Humacyte stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $5.40, for a total transaction of $27,982.80. Following the sale, the director now owns 40,276 shares in the company, valued at $217,490.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brady W. Dougan sold 252,676 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $6.71, for a total transaction of $1,695,455.96. Following the completion of the transaction, the director now owns 4,306,464 shares of the company’s stock, valued at $28,896,373.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,084,153 shares of company stock worth $6,869,996. 23.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Humacyte

Institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its stake in shares of Humacyte by 693.0% during the second quarter. Renaissance Technologies LLC now owns 600,300 shares of the company’s stock valued at $2,881,000 after acquiring an additional 524,600 shares in the last quarter. Virtu Financial LLC acquired a new stake in Humacyte during the 1st quarter valued at approximately $197,000. Private Advisor Group LLC increased its holdings in Humacyte by 232.7% during 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 last quarter. Vanguard Group Inc. raised its position in shares of Humacyte by 28.7% in the 1st quarter. Vanguard Group Inc. now owns 4,019,681 shares of the company’s stock valued at $12,501,000 after purchasing an additional 896,415 shares in the last quarter. Finally, Millennium Management LLC boosted its stake 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 buying an additional 1,334,641 shares during the last quarter. Institutional investors and hedge funds 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.