Humacyte (NASDAQ:HUMA) Stock Price Down 6.4% – What’s Next?

Humacyte, Inc. (NASDAQ:HUMA)’s share price traded down 6.4% during trading on Tuesday . The company traded as low as $4.11 and last traded at $4.11. 1,055,356 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 3,293,323 shares. The stock had previously closed at $4.39.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on HUMA shares. D. Boral Capital restated a “buy” rating and issued a $25.00 price target on shares of Humacyte in a report on Monday. Piper Sandler set a $6.00 price target on shares of Humacyte and gave the stock a “neutral” rating in a report on Friday, October 18th. HC Wainwright reiterated a “buy” rating and set a $15.00 price objective (up previously from $12.00) on shares of Humacyte in a report on Friday, December 20th. Cantor Fitzgerald restated an “overweight” rating and set a $13.00 target price on shares of Humacyte in a research note on Friday, September 20th. Finally, Benchmark increased their price target on Humacyte from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $13.71.

Humacyte Price Performance

The firm has a market capitalization of $563.85 million, a price-to-earnings ratio of -3.34 and a beta of 1.32. The business has a fifty day moving average price of $4.60 and a two-hundred day moving average price of $5.66.

Insider Buying and Selling

In related news, Director Brady W. Dougan sold 427,459 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $4.34, for a total transaction of $1,855,172.06. Following the completion of the transaction, the director now directly owns 1,992,253 shares in the company, valued at $8,646,378.02. The trade was a 17.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Laura E. Niklason sold 811,172 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 2,419,712 shares in the company, valued at $10,743,521.28. This represents a 25.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,500,000 shares of company stock worth $6,606,799. 11.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Humacyte

Several institutional investors and hedge funds have recently modified their holdings of HUMA. State Street Corp raised 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 valued at $25,917,000 after acquiring an additional 1,895,529 shares in the last quarter. Millennium Management LLC grew its stake in shares of Humacyte by 504.3% during the 2nd quarter. Millennium Management LLC now owns 1,599,307 shares of the company’s stock worth $7,677,000 after purchasing an additional 1,334,641 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Humacyte by 693.0% during the 2nd quarter. Renaissance Technologies LLC now owns 600,300 shares of the company’s stock valued at $2,881,000 after purchasing an additional 524,600 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of Humacyte by 3,301.5% in the 2nd quarter. Marshall Wace LLP now owns 463,662 shares of the company’s stock valued at $2,226,000 after purchasing an additional 450,031 shares during the period. Finally, Deerfield Management Company L.P. Series C purchased a new stake in Humacyte during the second quarter worth $1,550,000. Institutional investors and hedge funds own 44.71% of the company’s stock.

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.