Humacyte (NASDAQ:HUMA) Trading Up 6.9% – Here’s What Happened

Humacyte, Inc. (NASDAQ:HUMA)’s share price was up 6.9% on Tuesday . The company traded as high as $5.28 and last traded at $5.28. Approximately 542,945 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 2,959,103 shares. The stock had previously closed at $4.94.

Analyst Ratings Changes

A number of analysts have recently issued reports on HUMA shares. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 price target (up from $12.00) on shares of Humacyte in a research note on Friday, December 20th. Piper Sandler set a $6.00 target price on shares of Humacyte and gave the company a “neutral” rating in a research report on Friday, October 18th. Benchmark upped their price objective on shares of Humacyte from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. TD Cowen reissued a “buy” rating and issued a $10.00 target price on shares of Humacyte in a research note on Friday, October 18th. Finally, D. Boral Capital restated a “buy” rating and issued a $25.00 price target on shares of Humacyte in a research report on Friday, December 20th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $13.71.

Humacyte Price Performance

The company’s 50-day simple moving average is $4.72 and its 200-day simple moving average is $5.70. 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 capitalization of $635.59 million, a PE ratio of -3.77 and a beta of 1.32.

Insider Activity

In other Humacyte news, CEO Laura E. Niklason sold 811,172 shares of the 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 sale, the chief executive officer now owns 2,419,712 shares in the company, valued at approximately $10,743,521.28. This represents a 25.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brady W. Dougan sold 427,459 shares of Humacyte 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 sale, the director now owns 1,992,253 shares of the company’s stock, valued at approximately $8,646,378.02. This represents a 17.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,500,000 shares of company stock worth $6,606,799 in the last 90 days. 11.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Humacyte

Several institutional investors have recently made changes to their positions in HUMA. Concurrent Investment Advisors LLC purchased a new stake in Humacyte during the third quarter worth approximately $75,000. Principal Financial Group Inc. purchased a new stake in Humacyte during the 2nd quarter worth $83,000. FORA Capital LLC acquired a new stake in Humacyte in the 3rd quarter valued at $96,000. Profund Advisors LLC purchased a new position in Humacyte in the second quarter valued at about $97,000. Finally, Insigneo Advisory Services LLC acquired a new position in shares of Humacyte during the third quarter worth about $109,000. 44.71% of the stock is owned by hedge funds and other institutional investors.

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.