Humacyte (NASDAQ:HUMA) Shares Down 9.2%

Humacyte, Inc. (NASDAQ:HUMA)’s stock price was down 9.2% on Wednesday . The stock traded as low as $7.93 and last traded at $7.98. Approximately 2,742,845 shares changed hands during trading, an increase of 40% from the average daily volume of 1,965,918 shares. The stock had previously closed at $8.79.

Analyst Ratings Changes

A number of research firms recently issued reports on HUMA. Benchmark reaffirmed a “buy” rating and issued a $15.00 target price on shares of Humacyte in a research note on Tuesday, July 2nd. Piper Sandler reaffirmed a “neutral” rating and set a $4.00 price objective on shares of Humacyte in a research note on Tuesday, March 26th. BTIG Research upped their target price on shares of Humacyte from $8.00 to $11.00 and gave the company a “buy” rating in a report on Monday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $7.00 price target on shares of Humacyte in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $8.60.

Humacyte Trading Down 2.4 %

The company has a current ratio of 8.37, a quick ratio of 8.37 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $899.05 million, a price-to-earnings ratio of -7.55 and a beta of 1.51. The business has a 50 day simple moving average of $6.53 and a 200-day simple moving average of $4.51.

Humacyte (NASDAQ:HUMA) last announced its quarterly earnings data on Friday, May 10th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.06). On average, equities analysts predict that Humacyte, Inc. will post -0.95 earnings per share for the current year.

Insider Activity

In other Humacyte news, Director Gordon M. Binder acquired 50,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was bought at an average cost of $6.78 per share, for a total transaction 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Gordon M. Binder acquired 50,000 shares of Humacyte stock in a transaction on Wednesday, May 15th. The shares were bought at an average price of $6.78 per share, for a total transaction of $339,000.00. Following the completion of the purchase, the director now directly owns 160,000 shares in the company, valued at approximately $1,084,800. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brady W. Dougan sold 271,518 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $7.30, for a total value of $1,982,081.40. Following the completion of the sale, the director now 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 ninety days, insiders purchased 54,412 shares of company stock valued at $369,107 and sold 1,628,820 shares valued at $12,464,121. Corporate insiders own 23.10% of the company’s stock.

Institutional Investors Weigh In On Humacyte

A number of hedge funds have recently bought and sold shares of HUMA. Vanguard Group Inc. boosted its stake in shares of Humacyte by 28.7% during the 1st quarter. Vanguard Group Inc. now owns 4,019,681 shares of the company’s stock valued at $12,501,000 after buying an additional 896,415 shares during the last quarter. Capstone Investment Advisors LLC bought a new position in Humacyte during the 1st quarter valued at $972,000. Private Advisor Group LLC grew its holdings in Humacyte by 232.7% during the 1st quarter. Private Advisor Group LLC now owns 317,624 shares of the company’s stock worth $988,000 after acquiring an additional 222,144 shares in the last quarter. ARS Investment Partners LLC bought a new stake in Humacyte in the second quarter valued at about $559,000. Finally, United Asset Strategies Inc. raised its stake in Humacyte by 53.9% during the fourth quarter. United Asset Strategies Inc. now owns 221,308 shares of the company’s stock valued at $629,000 after buying an additional 77,500 shares in the last quarter. Institutional investors and hedge funds own 44.71% of the company’s stock.

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.