Humacyte (NASDAQ:HUMA) Shares Down 3.7%

Humacyte, Inc. (NASDAQ:HUMA)’s share price traded down 3.7% on Monday . The company traded as low as $5.37 and last traded at $5.43. 178,347 shares were traded during mid-day trading, a decline of 92% from the average session volume of 2,186,756 shares. The stock had previously closed at $5.64.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HUMA. BTIG Research lifted their price objective on shares of Humacyte from $8.00 to $11.00 and gave the company a “buy” rating in a report on Monday, July 15th. EF Hutton Acquisition Co. I raised Humacyte to a “strong-buy” rating in a report on Monday, September 9th. Benchmark restated a “buy” rating and set a $15.00 price objective on shares of Humacyte in a report on Thursday, September 5th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $7.00 target price on shares of Humacyte in a research report on Tuesday, July 2nd. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $8.60.

Humacyte Price Performance

The stock has a market cap of $635.91 million, a PE ratio of -5.60 and a beta of 1.47. The company has a debt-to-equity ratio of 0.61, a current ratio of 5.41 and a quick ratio of 5.41. The firm’s 50 day moving average price is $6.91 and its two-hundred day moving average price is $5.57.

Humacyte (NASDAQ:HUMA) last released its quarterly earnings data 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, research analysts expect that Humacyte, Inc. will post -1.09 earnings per share for the current year.

Insider Activity

In related news, Director Brady W. Dougan sold 252,676 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $6.71, for a total transaction of $1,695,455.96. Following the sale, the director now owns 4,306,464 shares of the company’s stock, valued at approximately $28,896,373.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Humacyte news, Director Kathleen Sebelius sold 5,182 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $5.40, for a total value of $27,982.80. Following the completion of the transaction, the director now directly owns 40,276 shares of the company’s stock, valued at approximately $217,490.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Brady W. Dougan sold 252,676 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was 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 directly owns 4,306,464 shares in the company, valued at approximately $28,896,373.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,084,153 shares of company stock worth $6,869,996. 23.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Humacyte

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HUMA. nVerses Capital LLC bought a new position in shares of Humacyte in the 2nd quarter worth $28,000. Victory Capital Management Inc. bought a new position in Humacyte in the fourth quarter valued at $29,000. China Universal Asset Management Co. Ltd. raised its position in Humacyte by 65.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 19,883 shares of the company’s stock valued at $62,000 after purchasing an additional 7,897 shares in the last quarter. Hartline Investment Corp bought a new stake in Humacyte during the first quarter worth about $70,000. Finally, Principal Financial Group Inc. purchased a new position in shares of Humacyte in the 2nd quarter worth about $83,000. 44.71% of the stock is currently owned by hedge funds and other institutional investors.

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.