BTIG Research Increases Humacyte (NASDAQ:HUMA) Price Target to $11.00

Humacyte (NASDAQ:HUMA) had its price target increased by investment analysts at BTIG Research from $8.00 to $11.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price target points to a potential upside of 25.14% from the stock’s previous close.

Several other brokerages have also recently commented on HUMA. Cantor Fitzgerald reiterated an “overweight” rating and issued a $7.00 price target on shares of Humacyte in a research note on Tuesday, July 2nd. Benchmark restated a “buy” rating and set a $15.00 target price on shares of Humacyte in a research report on Tuesday, July 2nd. Finally, Piper Sandler restated a “neutral” rating and set a $4.00 target price on shares of Humacyte in a research report on Tuesday, March 26th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.60.

Humacyte Stock Up 4.6 %

Shares of HUMA stock opened at $8.79 on Monday. The stock has a market cap of $1.05 billion, a P/E ratio of -8.79 and a beta of 1.52. Humacyte has a 52 week low of $1.96 and a 52 week high of $9.97. The company has a quick ratio of 8.37, a current ratio of 8.37 and a debt-to-equity ratio of 0.61. The company’s fifty day simple moving average is $6.39 and its two-hundred day simple moving average is $4.47.

Humacyte (NASDAQ:HUMA) last announced its quarterly earnings results on Friday, May 10th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.06). Analysts predict that Humacyte will post -0.95 EPS for the current fiscal year.

Insider Activity

In other news, Director Gordon M. Binder acquired 50,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was acquired at an average price of $6.78 per share, with a total value of $339,000.00. Following the completion of the purchase, the director now directly owns 160,000 shares in the company, valued at $1,084,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Gordon M. Binder acquired 50,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was acquired at an average price of $6.78 per share, with a total value of $339,000.00. Following the completion of the purchase, the director now directly owns 160,000 shares in the company, valued at $1,084,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Brady W. Dougan sold 271,518 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $7.30, for a total transaction of $1,982,081.40. Following the completion of the sale, the director now directly owns 4,559,140 shares of the company’s stock, valued at approximately $33,281,722. The disclosure for this sale can be found here. In the last three months, insiders have acquired 54,412 shares of company stock worth $369,107 and have sold 1,628,820 shares worth $12,464,121. Corporate insiders own 23.10% of the company’s stock.

Hedge Funds Weigh In On Humacyte

A number of institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC increased its position in shares of Humacyte by 52.8% during the fourth quarter. SG Americas Securities LLC now owns 16,340 shares of the company’s stock worth $46,000 after acquiring an additional 5,645 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Humacyte by 261.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,989 shares of the company’s stock worth $26,000 after acquiring an additional 6,504 shares during the period. China Universal Asset Management Co. Ltd. increased its position in shares of Humacyte by 65.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 19,883 shares of the company’s stock worth $62,000 after acquiring an additional 7,897 shares during the period. Powell Investment Advisors LLC increased its position in shares of Humacyte by 75.0% during the fourth quarter. Powell Investment Advisors LLC now owns 21,000 shares of the company’s stock worth $60,000 after acquiring an additional 9,000 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Humacyte during the fourth quarter worth approximately $28,000. 44.71% of the stock is 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.