Humacyte (NASDAQ:HUMA) Shares Gap Down to $6.12

Humacyte, Inc. (NASDAQ:HUMA - Get Free Report)'s share price gapped down prior to trading on Wednesday . The stock had previously closed at $6.12, but opened at $5.75. Humacyte shares last traded at $5.82, with a volume of 433,844 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Benchmark restated a "buy" rating and set a $15.00 target price on shares of Humacyte in a report on Thursday, September 5th. EF Hutton Acquisition Co. I raised Humacyte to a "strong-buy" rating in a research note on Monday, September 9th. Cantor Fitzgerald reiterated an "overweight" rating and set a $13.00 target price on shares of Humacyte in a report on Friday, September 20th. Finally, BTIG Research boosted their price target on Humacyte from $8.00 to $11.00 and gave the stock a "buy" rating in a report on Monday, July 15th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $9.80.

Humacyte Trading Down 10.9 %

The business has a 50 day simple moving average of $6.68 and a two-hundred day simple moving average of $5.64. The company has a current ratio of 5.41, a quick ratio of 5.41 and a debt-to-equity ratio of 0.61. The company has a market cap of $649.60 million, a PE ratio of -5.46 and a beta of 1.47.

Humacyte (NASDAQ:HUMA - Get Free Report) last issued 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). On average, analysts forecast that Humacyte, Inc. will post -1.09 EPS for the current fiscal year.

Insider Buying and Selling

In other Humacyte news, CEO Laura E. Niklason sold 157,704 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $5.42, for a total transaction of $854,755.68. Following the transaction, the chief executive officer now owns 3,519,558 shares of the company's stock, valued at $19,076,004.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Brady W. Dougan sold 352,112 shares of the 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Laura E. Niklason sold 157,704 shares of Humacyte stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $5.42, for a total transaction of $854,755.68. Following the transaction, the chief executive officer now directly owns 3,519,558 shares in the company, valued at $19,076,004.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,084,153 shares of company stock valued at $6,869,996. Insiders own 23.10% of the company's stock.

Hedge Funds Weigh In On Humacyte

A number of hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its position in Humacyte by 32.5% during the 2nd 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 in the last quarter. Millennium Management LLC boosted its stake in shares of 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 purchasing an additional 1,334,641 shares during the period. Deerfield Management Company L.P. Series C acquired a new stake in Humacyte during the 2nd quarter valued at $1,550,000. AQR Capital Management LLC increased its stake in Humacyte by 1,018.4% during the 2nd quarter. AQR Capital Management LLC now owns 256,342 shares of the company's stock worth $1,230,000 after buying an additional 233,422 shares during the period. Finally, Marshall Wace LLP lifted its holdings in Humacyte by 3,301.5% in the 2nd quarter. Marshall Wace LLP now owns 463,662 shares of the company's stock worth $2,226,000 after buying an additional 450,031 shares in the last quarter. Hedge funds and other institutional investors 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.