Humacyte (NASDAQ:HUMA) Trading Up 8.2%

Humacyte, Inc. (NASDAQ:HUMA)’s share price rose 8.2% on Wednesday . The stock traded as high as $5.96 and last traded at $5.94. Approximately 1,342,718 shares changed hands during mid-day trading, a decline of 39% from the average daily volume of 2,213,594 shares. The stock had previously closed at $5.49.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Benchmark reissued a “buy” rating and issued a $15.00 price objective on shares of Humacyte in a report on Thursday, September 5th. EF Hutton Acquisition Co. I raised shares of Humacyte to a “strong-buy” rating in a report on Monday, September 9th. BTIG Research increased their target price on Humacyte from $8.00 to $11.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $13.00 price objective on shares of Humacyte in a report on Friday, September 20th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $9.80.

Humacyte Stock Performance

The company has a quick ratio of 5.41, a current ratio of 5.41 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $671.63 million, a P/E ratio of -5.94 and a beta of 1.47. The company has a 50-day moving average price of $6.48 and a two-hundred day moving average price of $5.73.

Humacyte (NASDAQ:HUMA) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). Equities analysts expect that Humacyte, Inc. will post -1.09 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Brady W. Dougan sold 252,676 shares of Humacyte stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $6.71, for a total value of $1,695,455.96. Following the completion of the sale, the director now directly owns 4,306,464 shares in the company, valued at approximately $28,896,373.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Brady W. Dougan sold 252,676 shares of Humacyte stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $6.71, for a total transaction of $1,695,455.96. Following the transaction, the director now directly owns 4,306,464 shares of the company’s stock, valued at approximately $28,896,373.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brady W. Dougan sold 352,112 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $6.35, for a total value of $2,235,911.20. Following the completion of the sale, the director now owns 3,677,262 shares of the company’s stock, valued at approximately $23,350,613.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,084,153 shares of company stock worth $6,869,996. Company insiders own 23.10% of the company’s stock.

Institutional Trading of Humacyte

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Endowment Wealth Management Inc. lifted its holdings in shares of Humacyte by 3.1% during the 2nd quarter. Endowment Wealth Management Inc. now owns 100,518 shares of the company’s stock valued at $482,000 after purchasing an additional 3,000 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Humacyte during the 2nd quarter valued at about $28,000. China Universal Asset Management Co. Ltd. increased its position in shares of Humacyte by 65.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 19,883 shares of the company’s stock valued at $62,000 after buying an additional 7,897 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Humacyte by 32.5% during the second quarter. The Manufacturers Life Insurance Company now owns 34,919 shares of the company’s stock worth $168,000 after acquiring an additional 8,557 shares during the period. Finally, Principal Financial Group Inc. purchased a new stake in Humacyte during the 2nd quarter worth approximately $83,000. 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.