Humacyte (NASDAQ:HUMA) Stock Price Down 6.7% – Time to Sell?

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

Analysts Set New Price Targets

HUMA has been the subject of a number of analyst reports. TD Cowen reissued a “buy” rating and set a $10.00 target price on shares of Humacyte in a research note on Friday, October 18th. BTIG Research reissued a “buy” rating and issued a $10.00 price objective on shares of Humacyte in a research note on Friday, October 18th. Benchmark reaffirmed a “buy” rating and set a $15.00 target price on shares of Humacyte in a research note on Thursday, October 10th. Piper Sandler set a $6.00 price objective on shares of Humacyte and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, HC Wainwright reiterated a “buy” rating and set a $12.00 target price on shares of Humacyte in a research report on Wednesday, November 13th. One research 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $13.00.

Humacyte Stock Performance

The stock has a market cap of $450.58 million, a price-to-earnings ratio of -3.04 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. The company’s fifty day simple moving average is $4.96 and its two-hundred day simple moving average is $5.93.

Insider Activity

In related news, Director Brady W. Dougan sold 427,459 shares of the stock in a transaction dated Tuesday, November 19th. The shares were 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 approximately $8,646,378.02. This represents a 17.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Laura E. Niklason sold 811,172 shares of Humacyte stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $4.44, for a total transaction of $3,601,603.68. Following the completion of the sale, the chief executive officer now directly owns 2,419,712 shares in the company, valued at $10,743,521.28. This trade represents a 25.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,500,000 shares of company stock worth $6,606,799 over the last 90 days. 11.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Humacyte

Several large investors have recently added to or reduced their stakes in HUMA. Bank of New York Mellon Corp boosted its holdings in Humacyte by 62.7% in the 2nd 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. purchased a new stake in Humacyte during the 2nd quarter worth about $83,000. nVerses Capital LLC bought a new position in Humacyte in the 2nd quarter worth about $28,000. Rhumbline Advisers boosted its position in shares of Humacyte by 87.8% in the second quarter. Rhumbline Advisers now owns 110,919 shares of the company’s stock valued at $532,000 after acquiring an additional 51,858 shares during the period. Finally, Endowment Wealth Management Inc. boosted its holdings in Humacyte by 3.1% in the 2nd quarter. Endowment Wealth Management Inc. now owns 100,518 shares of the company’s stock valued at $482,000 after purchasing an additional 3,000 shares during the period. 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.