Humacyte (NASDAQ:HUMA) Shares Down 6.4% - What's Next?

Humacyte, Inc. (NASDAQ:HUMA - Get Free Report) shares were down 6.4% during trading on Tuesday . The company traded as low as $4.11 and last traded at $4.11. Approximately 1,055,356 shares changed hands during trading, a decline of 68% from the average daily volume of 3,293,323 shares. The stock had previously closed at $4.39.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HUMA. HC Wainwright reiterated a "buy" rating and issued a $15.00 price objective (up from $12.00) on shares of Humacyte in a research report on Friday, December 20th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $13.00 price target on shares of Humacyte in a report on Friday, September 20th. BTIG Research reiterated a "buy" rating and issued a $10.00 price target on shares of Humacyte in a research report on Friday, October 18th. Piper Sandler set a $6.00 price objective on Humacyte and gave the stock a "neutral" rating in a research report on Friday, October 18th. Finally, Benchmark upped their target price on Humacyte from $15.00 to $17.00 and gave the company a "buy" rating in a research note on Monday, December 23rd. One investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $13.71.

Humacyte Price Performance

The firm has a market capitalization of $518.54 million, a price-to-earnings ratio of -3.07 and a beta of 1.32. 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 $4.64 and a two-hundred day moving average price of $5.68.

Insider Buying and Selling

In other news, Director Brady W. Dougan sold 427,459 shares of the firm's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $4.34, for a total value of $1,855,172.06. Following the completion of the sale, the director now owns 1,992,253 shares of the company's stock, valued at $8,646,378.02. This trade represents a 17.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Laura E. Niklason sold 261,369 shares of the firm's stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $4.40, for a total value of $1,150,023.60. Following the sale, the chief executive officer now owns 1,730,884 shares of the company's stock, valued at $7,615,889.60. The trade was a 13.12 % decrease in their ownership of the stock. 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. 11.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Humacyte

Several institutional investors and hedge funds have recently modified their holdings of the business. Brookstone Capital Management bought a new position in shares of Humacyte during the 4th quarter worth about $56,000. Concurrent Investment Advisors LLC acquired a new stake in Humacyte during the third quarter worth about $75,000. Principal Financial Group Inc. bought a new position in Humacyte during the second quarter valued at about $83,000. FORA Capital LLC acquired a new position in Humacyte in the 3rd quarter valued at approximately $96,000. Finally, Profund Advisors LLC acquired a new position in Humacyte in the 2nd quarter valued at approximately $97,000. 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.