Humacyte (NASDAQ:HUMA) Shares Gap Up – Here’s What Happened

Humacyte, Inc. (NASDAQ:HUMA)’s share price gapped up prior to trading on Friday . The stock had previously closed at $3.46, but opened at $5.78. Humacyte shares last traded at $6.48, with a volume of 25,170,742 shares changing hands.

Wall Street Analyst Weigh In

HUMA has been the subject of several recent research reports. 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. D. Boral Capital reaffirmed a “buy” rating and set a $25.00 price target on shares of Humacyte in a research note on Friday. TD Cowen reissued a “buy” rating and issued a $10.00 price objective on shares of Humacyte in a research report on Friday, October 18th. Benchmark reaffirmed a “buy” rating and issued a $15.00 target price on shares of Humacyte in a research report on Thursday, October 10th. Finally, HC Wainwright reissued a “buy” rating and set a $15.00 price target (up from $12.00) on shares of Humacyte in a research report on Friday. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $13.43.

Humacyte Stock Performance

The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.61. The stock’s fifty day moving average is $4.83 and its two-hundred day moving average is $5.84. The firm has a market capitalization of $583.99 million, a price-to-earnings ratio of -3.46 and a beta of 1.38.

Insider Transactions at Humacyte

In related news, Director Brady W. Dougan sold 427,459 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $4.34, for a total transaction of $1,855,172.06. Following the transaction, the director now directly owns 1,992,253 shares of the company’s stock, valued at approximately $8,646,378.02. The trade was a 17.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Laura E. Niklason sold 261,369 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $4.40, for a total value of $1,150,023.60. Following the completion of the sale, the chief executive officer now owns 1,730,884 shares in the company, valued at approximately $7,615,889.60. This trade represents a 13.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,500,000 shares of company stock worth $6,606,799 in the last ninety days. Insiders own 11.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp lifted its position in Humacyte by 66.1% during the third quarter. State Street Corp now owns 4,764,155 shares of the company’s stock worth $25,917,000 after acquiring an additional 1,895,529 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Humacyte by 9.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,040,218 shares of the company’s stock worth $11,101,000 after purchasing an additional 179,120 shares during the last quarter. Millennium Management LLC grew its holdings in Humacyte by 504.3% in the 2nd quarter. Millennium Management LLC now owns 1,599,307 shares of the company’s stock valued at $7,677,000 after buying an additional 1,334,641 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Humacyte by 10.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 721,318 shares of the company’s stock worth $3,924,000 after buying an additional 66,946 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Humacyte by 693.0% during the second quarter. Renaissance Technologies LLC now owns 600,300 shares of the company’s stock worth $2,881,000 after buying an additional 524,600 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.