Humacyte (NASDAQ:HUMA) Trading Up 6.9% – Still a Buy?

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on HUMA. BTIG Research reissued a “buy” rating and issued a $10.00 price objective on shares of Humacyte in a report on Friday, October 18th. HC Wainwright reissued a “buy” rating and set a $15.00 target price (up from $12.00) on shares of Humacyte in a report on Friday, December 20th. D. Boral Capital reaffirmed a “buy” rating and issued a $25.00 price target on shares of Humacyte in a research note on Friday, December 20th. Cantor Fitzgerald reiterated an “overweight” rating and set a $13.00 price objective on shares of Humacyte in a research note on Friday, September 20th. Finally, Piper Sandler set a $6.00 target price on shares of Humacyte and gave the company a “neutral” rating in a report on Friday, October 18th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $13.71.

Humacyte Price Performance

The business’s fifty day moving average price is $4.69 and its 200 day moving average price is $5.69. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a market cap of $589.02 million, a P/E ratio of -3.49 and a beta of 1.32.

Insider Buying and Selling

In other news, Director Brady W. Dougan sold 427,459 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $4.34, for a total value of $1,855,172.06. Following the completion of the transaction, the director now owns 1,992,253 shares of the company’s stock, valued at $8,646,378.02. This represents a 17.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Laura E. Niklason sold 261,369 shares of Humacyte stock in a transaction that occurred on 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 sale, the chief executive officer now owns 1,730,884 shares in the company, valued at approximately $7,615,889.60. This represents a 13.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,500,000 shares of company stock worth $6,606,799 in the last three months. 11.20% of the stock is owned by corporate insiders.

Institutional Trading of Humacyte

Several institutional investors have recently modified their holdings of HUMA. Concurrent Investment Advisors LLC acquired a new position in Humacyte during the 3rd quarter worth about $75,000. Principal Financial Group Inc. acquired a new position in shares of Humacyte in the second quarter worth approximately $83,000. FORA Capital LLC acquired a new position in shares of Humacyte in the third quarter worth approximately $96,000. Profund Advisors LLC acquired a new stake in Humacyte during the 2nd quarter valued at approximately $97,000. Finally, Insigneo Advisory Services LLC bought a new position in Humacyte during the 3rd quarter worth approximately $109,000. 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.