Humacyte (NASDAQ:HUMA) Sees Strong Trading Volume on Analyst Upgrade

Humacyte, Inc. (NASDAQ:HUMA) shares saw an uptick in trading volume on Monday after Benchmark raised their price target on the stock from $15.00 to $17.00. Benchmark currently has a buy rating on the stock. 4,531,517 shares traded hands during trading, an increase of 65% from the previous session’s volume of 2,740,317 shares.The stock last traded at $4.41 and had previously closed at $4.64.

A number of other brokerages also recently weighed in on HUMA. D. Boral Capital reiterated a “buy” rating and set a $25.00 price target on shares of Humacyte in a report on Friday. Piper Sandler set a $6.00 target price on Humacyte and gave the stock a “neutral” rating in a report on Friday, October 18th. HC Wainwright reissued a “buy” rating and issued a $15.00 price target (up from $12.00) on shares of Humacyte in a research note on Friday. TD Cowen reaffirmed a “buy” rating and set a $10.00 price objective on shares of Humacyte in a research report on Friday, October 18th. Finally, EF Hutton Acquisition Co. I raised shares of Humacyte to a “strong-buy” rating in a research note on Monday, September 9th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $13.71.

Insider Activity at Humacyte

In other Humacyte news, Director Brady W. Dougan sold 427,459 shares of the firm’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 transaction, the director now directly owns 1,992,253 shares in the company, valued at approximately $8,646,378.02. This trade represents a 17.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Laura E. Niklason sold 811,172 shares of Humacyte stock in a transaction 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 transaction, the chief executive officer now directly owns 2,419,712 shares in the company, valued at $10,743,521.28. This represents a 25.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,500,000 shares of company stock valued at $6,606,799. 11.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in HUMA. Bank of New York Mellon Corp increased 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 valued at $1,219,000 after acquiring an additional 97,931 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Humacyte during the 2nd quarter valued at $83,000. nVerses Capital LLC purchased a new stake in shares of Humacyte during the 2nd quarter valued at $28,000. Rhumbline Advisers raised its stake in shares of Humacyte by 87.8% during the 2nd quarter. Rhumbline Advisers now owns 110,919 shares of the company’s stock worth $532,000 after purchasing an additional 51,858 shares during the period. Finally, Endowment Wealth Management Inc. boosted its holdings in shares of Humacyte by 3.1% in the 2nd quarter. Endowment Wealth Management Inc. now owns 100,518 shares of the company’s stock worth $482,000 after buying an additional 3,000 shares during the last quarter. 44.71% of the stock is owned by institutional investors.

Humacyte Stock Performance

The company’s 50-day moving average is $4.83 and its two-hundred day moving average is $5.83. 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 company has a market cap of $555.04 million, a P/E ratio of -3.29 and a beta of 1.38.

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.