Humacyte (NASDAQ:HUMA) Stock Price Down 8.9%

Humacyte, Inc. (NASDAQ:HUMA - Get Free Report)'s stock price fell 8.9% during trading on Tuesday . The stock traded as low as $5.48 and last traded at $5.51. 1,366,508 shares changed hands during trading, a decline of 37% from the average session volume of 2,181,580 shares. The stock had previously closed at $6.05.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. BTIG Research raised their target price on Humacyte from $8.00 to $11.00 and gave the stock a "buy" rating in a research report on Monday, July 15th. Cantor Fitzgerald restated an "overweight" rating and set a $7.00 price target on shares of Humacyte in a report on Tuesday, July 2nd. Finally, Benchmark reiterated a "buy" rating and set a $15.00 price objective on shares of Humacyte in a research report on Monday, August 12th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $8.60.

Check Out Our Latest Report on HUMA

Humacyte Stock Down 8.8 %

The company has a market cap of $657.34 million, a P/E ratio of -5.57 and a beta of 1.52. The stock's 50-day moving average price is $6.86 and its 200-day moving average price is $5.47. The company has a current ratio of 5.41, a quick ratio of 5.41 and a debt-to-equity ratio of 0.61.

Insider Activity

In other news, CEO Laura E. Niklason sold 358,630 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $7.08, for a total value of $2,539,100.40. Following the completion of the sale, the chief executive officer now directly owns 4,830,658 shares of the company's stock, valued at $34,201,058.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Brady W. Dougan sold 271,518 shares of the company's stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $7.30, for a total value of $1,982,081.40. Following the completion of the transaction, the director now directly owns 4,559,140 shares of the company's stock, valued at $33,281,722. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Laura E. Niklason sold 358,630 shares of Humacyte stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $7.08, for a total value of $2,539,100.40. Following the sale, the chief executive officer now owns 4,830,658 shares in the company, valued at $34,201,058.64. The disclosure for this sale can be found here. Insiders sold a total of 1,551,415 shares of company stock worth $10,508,440 over the last quarter. 23.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Humacyte

Hedge funds and other institutional investors have recently made changes to their positions in the stock. nVerses Capital LLC bought a new stake in shares of Humacyte in the second quarter valued at $28,000. Victory Capital Management Inc. bought a new stake in shares of Humacyte in the fourth quarter valued at approximately $29,000. Kovitz Investment Group Partners LLC bought a new stake in shares of Humacyte in the fourth quarter valued at approximately $35,000. China Universal Asset Management Co. Ltd. lifted its stake in shares of Humacyte by 65.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 19,883 shares of the company's stock valued at $62,000 after buying an additional 7,897 shares in the last quarter. Finally, Hartline Investment Corp bought a new position in Humacyte in the 1st quarter worth approximately $70,000. 44.71% of the stock is owned by hedge funds and other institutional investors.

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.

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