Humacyte (NASDAQ:HUMA) Trading Down 6.7% – Here’s Why

Shares of Humacyte, Inc. (NASDAQ:HUMA) dropped 6.7% during mid-day trading on Tuesday . The stock traded as low as $4.04 and last traded at $4.05. Approximately 545,669 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 2,407,047 shares. The stock had previously closed at $4.34.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $13.00 price target on shares of Humacyte in a report on Friday, September 20th. D. Boral Capital reaffirmed a “buy” rating and set a $25.00 target price on shares of Humacyte in a research note on Thursday, November 21st. TD Cowen reissued a “buy” rating and issued a $10.00 price target on shares of Humacyte in a research note on Friday, October 18th. BTIG Research reaffirmed a “buy” rating and set a $10.00 price objective on shares of Humacyte in a research report on Friday, October 18th. Finally, 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. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Humacyte currently has a consensus rating of “Buy” and a consensus price target of $13.00.

Humacyte Stock Performance

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 fifty day moving average price of $4.89 and a 200 day moving average price of $5.88. The stock has a market cap of $453.09 million, a P/E ratio of -2.69 and a beta of 1.38.

Insider Buying and Selling at Humacyte

In other news, CEO Laura E. Niklason sold 811,172 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $4.44, for a total value of $3,601,603.68. Following the transaction, the chief executive officer now owns 2,419,712 shares in the company, valued at $10,743,521.28. This trade represents a 25.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brady W. Dougan sold 427,459 shares of the company’s stock in a transaction on 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 $8,646,378.02. This trade represents a 17.67 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,500,000 shares of company stock worth $6,606,799. 11.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Humacyte

Hedge funds have recently bought and sold shares of the company. nVerses Capital LLC bought a new position in shares of Humacyte during the second quarter valued at about $28,000. Concurrent Investment Advisors LLC purchased a new stake in Humacyte in the 3rd quarter valued at about $75,000. Principal Financial Group Inc. bought a new position in shares of Humacyte during the 2nd quarter worth approximately $83,000. FORA Capital LLC bought a new position in shares of Humacyte during the 3rd quarter worth approximately $96,000. Finally, Profund Advisors LLC purchased a new position in shares of Humacyte in the 2nd quarter worth approximately $97,000. 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.