Humacyte (NASDAQ:HUMA) Shares Up 11% - Time to Buy?

Humacyte, Inc. (NASDAQ:HUMA - Get Free Report) shares rose 11% on Friday . The company traded as high as $5.84 and last traded at $5.84. Approximately 1,753,753 shares were traded during mid-day trading, a decline of 25% from the average daily volume of 2,341,978 shares. The stock had previously closed at $5.26.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. BTIG Research restated a "buy" rating and issued a $10.00 price target on shares of Humacyte in a research report on Friday, October 18th. EF Hutton Acquisition Co. I upgraded Humacyte to a "strong-buy" rating in a report on Monday, September 9th. TD Cowen reiterated a "buy" rating and set a $10.00 price target on shares of Humacyte in a report on Friday, October 18th. Cantor Fitzgerald reissued an "overweight" rating and issued a $13.00 price objective on shares of Humacyte in a report on Friday, September 20th. Finally, Benchmark reaffirmed a "buy" rating and set a $15.00 target price on shares of Humacyte in a research note on Thursday, October 10th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Humacyte currently has an average rating of "Buy" and an average price target of $11.00.

Humacyte Stock Performance

The firm's fifty day moving average is $5.46 and its 200-day moving average is $6.14. The company has a debt-to-equity ratio of 0.61, a current ratio of 5.41 and a quick ratio of 5.41.

Humacyte (NASDAQ:HUMA - Get Free Report) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.04). Analysts expect that Humacyte, Inc. will post -1.18 earnings per share for the current year.

Insider Activity

In related news, Director Kathleen Sebelius sold 5,182 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $5.40, for a total transaction of $27,982.80. Following the transaction, the director now owns 40,276 shares of the company's stock, valued at approximately $217,490.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Brady W. Dougan sold 352,112 shares of the company's stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $6.35, for a total transaction of $2,235,911.20. Following the sale, the director now directly owns 3,677,262 shares of the company's stock, valued at $23,350,613.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kathleen Sebelius sold 5,182 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $5.40, for a total transaction of $27,982.80. Following the sale, the director now owns 40,276 shares in the company, valued at approximately $217,490.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,084,153 shares of company stock valued at $6,869,996. 11.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Humacyte

Several institutional investors have recently modified their holdings of HUMA. Renaissance Technologies LLC boosted its holdings in Humacyte by 693.0% in the second 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 during the period. Virtu Financial LLC purchased a new position in shares of Humacyte in the 1st quarter valued at about $197,000. Private Advisor Group LLC grew its position in shares of Humacyte by 232.7% during the first quarter. Private Advisor Group LLC now owns 317,624 shares of the company's stock worth $988,000 after buying an additional 222,144 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Humacyte by 28.7% during the first quarter. Vanguard Group Inc. now owns 4,019,681 shares of the company's stock worth $12,501,000 after buying an additional 896,415 shares during the period. Finally, Millennium Management LLC raised its holdings in Humacyte by 504.3% in the second quarter. Millennium Management LLC now owns 1,599,307 shares of the company's stock valued at $7,677,000 after acquiring an additional 1,334,641 shares in the last quarter. 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.