Humacyte (NASDAQ:HUMA) Shares Up 6.5% – Here’s What Happened

Humacyte, Inc. (NASDAQ:HUMA)’s share price traded up 6.5% on Wednesday . The stock traded as high as $6.08 and last traded at $6.07. 1,082,940 shares changed hands during trading, a decline of 52% from the average session volume of 2,247,452 shares. The stock had previously closed at $5.70.

Wall Street Analyst Weigh In

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

Humacyte Stock Performance

The firm’s 50-day simple moving average is $5.83 and its two-hundred day simple moving average is $5.88. The company has a market cap of $598.99 million, a PE ratio of -5.09 and a beta of 1.45. The company has a current ratio of 5.41, a quick ratio of 5.41 and a debt-to-equity ratio of 0.61.

Humacyte (NASDAQ:HUMA) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.04). As a group, research analysts anticipate that Humacyte, Inc. will post -1.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Kathleen Sebelius sold 5,182 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $5.40, for a total value of $27,982.80. Following the sale, the director now owns 40,276 shares in the company, valued at $217,490.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Laura E. Niklason sold 157,704 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $5.42, for a total value of $854,755.68. Following the completion of the transaction, the chief executive officer now directly owns 3,519,558 shares in the company, valued at $19,076,004.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kathleen Sebelius sold 5,182 shares of the stock in a transaction 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 directly owns 40,276 shares in the company, valued at $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. In the last ninety days, insiders sold 1,084,153 shares of company stock valued at $6,869,996. 23.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Humacyte

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Humacyte by 28.7% in the 1st quarter. Vanguard Group Inc. now owns 4,019,681 shares of the company’s stock valued at $12,501,000 after buying an additional 896,415 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 worth $7,677,000 after acquiring an additional 1,334,641 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Humacyte by 693.0% during the second quarter. Renaissance Technologies LLC now owns 600,300 shares of the company’s stock worth $2,881,000 after purchasing an additional 524,600 shares in the last quarter. Marshall Wace LLP raised its stake in 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 last quarter. Finally, Private Advisor Group LLC lifted its holdings in Humacyte by 15.4% in the 2nd quarter. Private Advisor Group LLC now owns 366,600 shares of the company’s stock valued at $1,760,000 after purchasing an additional 48,976 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.