Humacyte (NASDAQ:HUMA) Shares Up 6.9% – Should You Buy?

Humacyte, Inc. (NASDAQ:HUMA) rose 6.9% during mid-day trading on Tuesday . The company traded as high as $5.28 and last traded at $5.28. Approximately 542,945 shares were traded during trading, a decline of 82% from the average daily volume of 2,959,103 shares. The stock had previously closed at $4.94.

Analyst Ratings Changes

A number of equities analysts have issued reports on HUMA shares. D. Boral Capital reaffirmed a “buy” rating and issued a $25.00 target price on shares of Humacyte in a research report on Friday, December 20th. Piper Sandler set a $6.00 price target on shares of Humacyte and gave the company a “neutral” rating in a report on Friday, October 18th. BTIG Research reissued a “buy” rating and set a $10.00 price objective on shares of Humacyte in a report on Friday, October 18th. Cantor Fitzgerald restated an “overweight” rating and issued a $13.00 target price on shares of Humacyte in a research note on Friday, September 20th. Finally, Benchmark lifted their price target on Humacyte from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $13.71.

Humacyte Stock Up 2.2 %

The firm’s fifty day moving average is $4.72 and its two-hundred day moving average is $5.70. The firm has a market cap of $635.59 million, a price-to-earnings ratio of -3.77 and a beta of 1.32. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.10 and a quick ratio of 1.10.

Insider Activity

In related news, Director Brady W. Dougan sold 427,459 shares of the firm’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 transaction of $1,855,172.06. Following the completion of the sale, the director now directly owns 1,992,253 shares in the company, valued at approximately $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 the SEC website. Also, CEO Laura E. Niklason sold 261,369 shares of the stock in a transaction on Wednesday, November 20th. The shares were 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. This trade represents a 13.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,500,000 shares of company stock worth $6,606,799 over the last three months. Corporate insiders own 11.20% of the company’s stock.

Institutional Investors Weigh In On Humacyte

Several hedge funds have recently made changes to their positions in HUMA. Renaissance Technologies LLC raised its stake in Humacyte by 693.0% during 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 during the period. State Street Corp grew its holdings in shares of Humacyte by 66.1% during the third quarter. State Street Corp now owns 4,764,155 shares of the company’s stock valued at $25,917,000 after buying an additional 1,895,529 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Humacyte during the third quarter valued at $596,000. Thrivent Financial for Lutherans acquired a new stake in Humacyte during the 3rd quarter worth about $712,000. Finally, Millennium Management LLC grew its stake in Humacyte by 504.3% during the 2nd 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. Hedge funds and other institutional investors 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.