Humacyte (NASDAQ:HUMA) Shares Gap Up - Time to Buy?

Shares of Humacyte, Inc. (NASDAQ:HUMA - Get Free Report) gapped up before the market opened 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 trading hands.

Analysts Set New Price Targets

A number of analysts have weighed in on HUMA shares. D. Boral Capital reissued a "buy" rating and set a $25.00 target price on shares of Humacyte in a report on Friday. Cantor Fitzgerald reissued an "overweight" rating and issued a $13.00 target price on shares of Humacyte in a report on Friday, September 20th. Benchmark reaffirmed a "buy" rating and set a $15.00 target price on shares of Humacyte in a report on Thursday, October 10th. BTIG Research reissued a "buy" rating and issued a $10.00 price target on shares of Humacyte in a report on Friday, October 18th. Finally, Piper Sandler set a $6.00 price objective on Humacyte and gave the stock a "neutral" rating in a research note on Friday, October 18th. One research 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.com, the stock has a consensus rating of "Buy" and a consensus price target of $13.43.

Humacyte Price Performance

The company has a market cap of $583.99 million, a price-to-earnings ratio of -3.46 and a beta of 1.38. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.61. The business has a 50-day moving average price of $4.83 and a 200 day moving average price of $5.85.

Insider Activity

In other Humacyte news, CEO Laura E. Niklason sold 811,172 shares of Humacyte stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $4.44, for a total transaction of $3,601,603.68. Following the transaction, the chief executive officer now directly owns 2,419,712 shares in the company, valued at approximately $10,743,521.28. The trade was a 25.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 sale, the director now directly owns 1,992,253 shares in the company, valued at approximately $8,646,378.02. This trade represents a 17.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,500,000 shares of company stock valued at $6,606,799 over the last three months. Insiders own 11.20% of the company's stock.

Hedge Funds Weigh In On Humacyte

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