Humacyte (NASDAQ:HUMA) Stock Price Down 3% – Here’s Why

Shares of Humacyte, Inc. (NASDAQ:HUMA) traded down 3% during trading on Tuesday . The company traded as low as $4.43 and last traded at $4.51. 3,525,988 shares were traded during mid-day trading, an increase of 27% from the average session volume of 2,777,449 shares. The stock had previously closed at $4.65.

Analyst Ratings Changes

HUMA has been the subject of several recent analyst reports. BTIG Research reaffirmed a “buy” rating and set a $10.00 price objective on shares of Humacyte in a research note on Friday, October 18th. D. Boral Capital reaffirmed a “buy” rating and issued a $25.00 price target on shares of Humacyte in a report on Friday. HC Wainwright reissued a “buy” rating and set a $15.00 price objective (up previously from $12.00) on shares of Humacyte in a research note on Friday. Benchmark upped their target price on Humacyte from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $13.00 price target on shares of Humacyte in a research report on Friday, September 20th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $13.71.

Humacyte Stock Performance

The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market cap of $567.62 million, a PE ratio of -3.37 and a beta of 1.38. The business’s 50-day moving average is $4.81 and its 200 day moving average is $5.81.

Insider Transactions at Humacyte

In other news, CEO Laura E. Niklason sold 811,172 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $4.44, for a total transaction of $3,601,603.68. Following the completion of the transaction, the chief executive officer now directly owns 2,419,712 shares of the company’s stock, valued at approximately $10,743,521.28. This represents a 25.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Brady W. Dougan sold 427,459 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $4.34, for a total value of $1,855,172.06. Following the completion of the sale, the director now directly owns 1,992,253 shares in the company, valued at $8,646,378.02. The trade was a 17.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,500,000 shares of company stock worth $6,606,799. Company insiders own 11.20% of the company’s stock.

Institutional Investors Weigh In On Humacyte

Institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC lifted its position in shares of Humacyte by 693.0% in 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. State Street Corp raised its stake in Humacyte by 66.1% in the third quarter. State Street Corp now owns 4,764,155 shares of the company’s stock worth $25,917,000 after buying an additional 1,895,529 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Humacyte in the third quarter worth about $596,000. Thrivent Financial for Lutherans bought a new stake in Humacyte during the 3rd quarter valued at approximately $712,000. Finally, Millennium Management LLC grew its holdings 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 worth $7,677,000 after acquiring an additional 1,334,641 shares during the period. Hedge funds and other institutional investors own 44.71% of the company’s stock.

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.