Humacyte (NASDAQ:HUMA) Trading Down 8.5% – What’s Next?

Shares of Humacyte, Inc. (NASDAQ:HUMA) dropped 8.5% during mid-day trading on Monday . The stock traded as low as $4.28 and last traded at $4.43. Approximately 1,170,789 shares changed hands during trading, a decline of 51% from the average daily volume of 2,389,079 shares. The stock had previously closed at $4.84.

Analysts Set New Price Targets

HUMA has been the subject of a number of recent analyst reports. BTIG Research reissued a “buy” rating and set a $10.00 price target on shares of Humacyte in a research report on Friday, October 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $13.00 target price on shares of Humacyte in a research report on Friday, September 20th. EF Hutton Acquisition Co. I upgraded Humacyte to a “strong-buy” rating in a research note on Monday, September 9th. TD Cowen reaffirmed a “buy” rating and set a $10.00 target price on shares of Humacyte in a report on Friday, October 18th. Finally, Piper Sandler set a $6.00 price target on Humacyte and gave the company a “neutral” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Humacyte has a consensus rating of “Buy” and an average target price of $11.00.

Humacyte Price Performance

The business has a fifty day moving average price of $5.38 and a 200 day moving average price of $6.20. 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 has a market capitalization of $556.30 million, a price-to-earnings ratio of -3.30 and a beta of 1.47.

Insiders Place Their Bets

In other news, CEO Laura E. Niklason sold 157,704 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $5.42, for a total transaction of $854,755.68. Following the completion of the sale, the chief executive officer now directly owns 3,519,558 shares of the company’s stock, valued at $19,076,004.36. This trade represents a 4.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Brady W. Dougan sold 352,112 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $6.35, for a total value of $2,235,911.20. Following the completion of the transaction, the director now owns 3,677,262 shares of the company’s stock, valued at $23,350,613.70. This trade represents a 8.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,084,153 shares of company stock worth $6,869,996 over the last ninety days. Company insiders own 11.20% of the company’s stock.

Institutional Trading of Humacyte

Hedge funds and other institutional investors have recently modified their holdings of the business. nVerses Capital LLC purchased a new stake in Humacyte in the 2nd quarter worth about $28,000. Concurrent Investment Advisors LLC acquired a new stake in shares of Humacyte during the third quarter worth approximately $75,000. Principal Financial Group Inc. purchased a new position in Humacyte during the second quarter valued at approximately $83,000. FORA Capital LLC acquired a new position in Humacyte in the 3rd quarter valued at approximately $96,000. Finally, Profund Advisors LLC acquired a new stake in shares of Humacyte during the 2nd quarter valued at $97,000. Institutional investors and hedge funds 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.