Humacyte (NASDAQ:HUMA) Trading Down 6.4% – Should You Sell?

Shares of Humacyte, Inc. (NASDAQ:HUMA) traded down 6.4% on Tuesday . The stock traded as low as $4.11 and last traded at $4.11. 1,055,356 shares were traded during mid-day trading, a decline of 68% from the average session volume of 3,293,323 shares. The stock had previously closed at $4.39.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. D. Boral Capital restated a “buy” rating and issued a $25.00 price objective on shares of Humacyte in a research report on Monday. Piper Sandler set a $6.00 price target on shares of Humacyte and gave the company a “neutral” rating in a research report on Friday, October 18th. TD Cowen reiterated a “buy” rating and set a $10.00 price target on shares of Humacyte in a research report on Friday, October 18th. BTIG Research reiterated a “buy” rating and set a $10.00 price target on shares of Humacyte in a research report on Friday, October 18th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $13.00 price target on shares of Humacyte in a research report on Friday, September 20th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Humacyte presently has an average rating of “Buy” and a consensus target price of $13.71.

Humacyte Price Performance

The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.61. The stock has a market cap of $519.80 million, a P/E ratio of -3.08 and a beta of 1.32. The firm’s fifty day moving average price is $4.66 and its 200-day moving average price is $5.69.

Insider Buying and Selling

In related news, CEO Laura E. Niklason sold 811,172 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $4.44, for a total value of $3,601,603.68. Following the completion of the sale, the chief executive officer now owns 2,419,712 shares of the company’s stock, valued at $10,743,521.28. This trade represents a 25.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Brady W. Dougan sold 427,459 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 1,992,253 shares of the company’s stock, valued at $8,646,378.02. This represents a 17.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,500,000 shares of company stock valued at $6,606,799 over the last quarter. 11.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Humacyte

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its position in Humacyte by 693.0% during the second quarter. Renaissance Technologies LLC now owns 600,300 shares of the company’s stock valued at $2,881,000 after buying an additional 524,600 shares during the period. State Street Corp lifted its position in 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Humacyte during the third quarter valued at $596,000. Thrivent Financial for Lutherans purchased a new position in Humacyte during the third quarter valued at $712,000. Finally, Millennium Management LLC lifted its position in Humacyte by 504.3% during the second quarter. Millennium Management LLC now owns 1,599,307 shares of the company’s stock valued at $7,677,000 after buying an additional 1,334,641 shares during the period. 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.