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

Shares of Humacyte, Inc. (NASDAQ:HUMA) gapped up prior to trading on Friday . The stock had previously closed at $3.46, but opened at $5.78. Humacyte shares last traded at $6.48, with a volume of 25,170,742 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on HUMA shares. Cantor Fitzgerald restated an “overweight” rating and set a $13.00 target price on shares of Humacyte in a report on Friday, September 20th. Benchmark reaffirmed a “buy” rating and issued a $15.00 target price on shares of Humacyte in a research report on Thursday, October 10th. 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 restated a “buy” rating and issued a $10.00 price objective on shares of Humacyte in a report on Friday, October 18th. Finally, D. Boral Capital reaffirmed a “buy” rating and set a $25.00 price objective on shares of Humacyte in a research report on Friday. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Humacyte presently has a consensus rating of “Buy” and a consensus price target of $13.43.

Humacyte Stock Up 63.3 %

The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market cap of $711.10 million, a PE ratio of -4.22 and a beta of 1.38. The company’s 50-day moving average price is $4.85 and its 200 day moving average price is $5.87.

Insider Buying and Selling

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

Institutional Trading of Humacyte

Several institutional investors and hedge funds have recently modified their holdings of HUMA. Endowment Wealth Management Inc. increased its holdings in Humacyte by 3.1% during the 2nd quarter. Endowment Wealth Management Inc. now owns 100,518 shares of the company’s stock worth $482,000 after purchasing an additional 3,000 shares during the period. nVerses Capital LLC purchased a new position in shares of Humacyte during the second quarter valued at $28,000. Private Advisor Group LLC lifted its stake in Humacyte by 1.8% in the third quarter. Private Advisor Group LLC now owns 373,110 shares of the company’s stock worth $2,030,000 after acquiring an additional 6,510 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Humacyte by 32.5% in the second quarter. The Manufacturers Life Insurance Company now owns 34,919 shares of the company’s stock worth $168,000 after acquiring an additional 8,557 shares during the period. Finally, China Universal Asset Management Co. Ltd. increased its position in Humacyte by 64.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 22,955 shares of the company’s stock valued at $125,000 after purchasing an additional 8,965 shares during the period. 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.