Humacyte (NASDAQ:HUMA) Shares Gap Down After Insider Selling

Shares of Humacyte, Inc. (NASDAQ:HUMA) gapped down before the market opened on Friday following insider selling activity. The stock had previously closed at $7.20, but opened at $7.00. Humacyte shares last traded at $7.26, with a volume of 98,317 shares changing hands.

Specifically, Director Gordon M. Binder acquired 50,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were purchased at an average price of $6.78 per share, for a total transaction of $339,000.00. Following the completion of the transaction, the director now owns 160,000 shares of the company’s stock, valued at $1,084,800. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Gordon M. Binder acquired 50,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were purchased at an average price of $6.78 per share, for a total transaction of $339,000.00. Following the completion of the transaction, the director now owns 160,000 shares of the company’s stock, valued at $1,084,800. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Laura E. Niklason sold 809,786 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $7.91, for a total transaction of $6,405,407.26. Following the completion of the transaction, the chief executive officer now owns 5,381,354 shares in the company, valued at approximately $42,566,510.14. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 54,412 shares of company stock worth $369,107 and have sold 1,628,820 shares worth $12,464,121. Corporate insiders own 23.10% of the company’s stock.

Wall Street Analyst Weigh In

HUMA has been the topic of several research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $7.00 price target on shares of Humacyte in a research report on Monday, April 1st. Piper Sandler reiterated a “neutral” rating and set a $4.00 price target on shares of Humacyte in a research report on Tuesday, March 26th. Finally, Benchmark reiterated a “buy” rating and set a $15.00 price target on shares of Humacyte in a research report on Friday, May 24th.

Humacyte Price Performance

The company has a debt-to-equity ratio of 0.61, a current ratio of 8.37 and a quick ratio of 8.37. The firm’s 50 day moving average is $5.46 and its 200 day moving average is $3.99. The firm has a market cap of $839.51 million, a P/E ratio of -7.05 and a beta of 1.62.

Humacyte (NASDAQ:HUMA) last posted its quarterly earnings data on Friday, May 10th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.06). As a group, analysts anticipate that Humacyte, Inc. will post -0.95 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its stake in shares of Humacyte by 261.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 8,989 shares of the company’s stock worth $26,000 after buying an additional 6,504 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in Humacyte during the fourth quarter valued at approximately $28,000. Victory Capital Management Inc. bought a new position in Humacyte during the fourth quarter valued at approximately $29,000. China Universal Asset Management Co. Ltd. lifted its position in Humacyte by 350.4% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 11,986 shares of the company’s stock valued at $34,000 after purchasing an additional 9,325 shares during the period. Finally, Kovitz Investment Group Partners LLC bought a new position in Humacyte during the fourth quarter valued at approximately $35,000. 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.