Brokerages Set Humacyte, Inc. (NASDAQ:HUMA) Price Target at $13.71

Shares of Humacyte, Inc. (NASDAQ:HUMA) have been given an average rating of “Buy” by the eight ratings firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $13.71.

Several equities analysts have commented on the stock. BTIG Research reiterated a “buy” rating and issued a $10.00 price target on shares of Humacyte in a research note on Friday, October 18th. Piper Sandler set a $6.00 target price on shares of Humacyte and gave the company a “neutral” rating in a research report on Friday, October 18th. HC Wainwright reiterated a “buy” rating and set a $15.00 price target (up from $12.00) on shares of Humacyte in a research note on Friday, December 20th. Cantor Fitzgerald restated an “overweight” rating and issued a $13.00 price objective on shares of Humacyte in a research note on Friday, September 20th. Finally, TD Cowen reiterated a “buy” rating and set a $10.00 target price on shares of Humacyte in a research report on Friday, October 18th.

Insiders Place Their Bets

In related news, 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 transaction of $1,150,023.60. Following the transaction, the chief executive officer now owns 1,730,884 shares of the company’s stock, valued at $7,615,889.60. This trade represents a 13.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Brady W. Dougan sold 427,459 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $4.34, for a total value of $1,855,172.06. Following the sale, the director now directly owns 1,992,253 shares of the company’s stock, valued at approximately $8,646,378.02. This represents a 17.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,500,000 shares of company stock valued at $6,606,799. Insiders own 11.20% of the company’s stock.

Hedge Funds Weigh In On Humacyte

A number of hedge funds and other institutional investors have recently bought and sold shares of HUMA. State Street Corp lifted its stake in shares of Humacyte by 66.1% in the 3rd quarter. State Street Corp now owns 4,764,155 shares of the company’s stock worth $25,917,000 after acquiring an additional 1,895,529 shares during the period. Millennium Management LLC lifted its position 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 purchasing an additional 1,334,641 shares during the period. Renaissance Technologies LLC boosted its holdings in Humacyte by 693.0% in the 2nd 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 in the last quarter. Marshall Wace LLP increased its position in Humacyte by 3,301.5% during the 2nd quarter. Marshall Wace LLP now owns 463,662 shares of the company’s stock worth $2,226,000 after purchasing an additional 450,031 shares during the period. Finally, Deerfield Management Company L.P. Series C acquired a new stake in shares of Humacyte in the 2nd quarter valued at approximately $1,550,000. 44.71% of the stock is currently owned by hedge funds and other institutional investors.

Humacyte Stock Performance

HUMA opened at $4.41 on Monday. Humacyte has a one year low of $2.53 and a one year high of $9.97. The company has a market cap of $555.04 million, a P/E ratio of -3.29 and a beta of 1.32. The business’s 50-day simple moving average is $4.58 and its 200-day simple moving average is $5.66.

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.