Heights Capital Management Inc. Takes Position in Humacyte, Inc. $HUMA

Key Points

• Heights Capital Management Inc. acquired 4,025,000 shares of Humacyte, Inc., valued at approximately $6,863,000, which represents 3.4% of its portfolio and makes Humacyte its 5th biggest position.
• Humacyte's stock currently shows a market capitalization of $242.31 million and has fluctuated between a twelve-month low of $1.15 and a high of $6.77.
• Insiders have sold a total of 4,482,090 shares valued at $7,466,382 over the last three months, with CEO Laura E. Niklason and Director Brady W. Dougan each selling 591,685 shares.

Heights Capital Management Inc. acquired a new position in shares of Humacyte, Inc. (NASDAQ:HUMA - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,025,000 shares of the company's stock, valued at approximately $6,863,000. Humacyte accounts for 3.4% of Heights Capital Management Inc.'s holdings, making the stock its 5th biggest holding. Heights Capital Management Inc. owned 2.59% of Humacyte as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Monashee Investment Management LLC acquired a new stake in Humacyte during the 1st quarter worth $3,410,000. Northern Trust Corp raised its stake in Humacyte by 11.5% during the 4th quarter. Northern Trust Corp now owns 901,194 shares of the company's stock worth $4,551,000 after buying an additional 92,708 shares during the period. ProShare Advisors LLC raised its stake in shares of Humacyte by 30.4% in the 4th quarter. ProShare Advisors LLC now owns 30,852 shares of the company's stock valued at $156,000 after purchasing an additional 7,188 shares during the period. Wells Fargo & Company MN raised its stake in shares of Humacyte by 40.9% in the 4th quarter. Wells Fargo & Company MN now owns 50,454 shares of the company's stock valued at $255,000 after purchasing an additional 14,649 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Humacyte in the 4th quarter valued at about $377,000. Institutional investors and hedge funds own 44.71% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on HUMA shares. Barclays initiated coverage on Humacyte in a report on Wednesday, August 27th. They issued an "overweight" rating and a $3.50 price objective for the company. D. Boral Capital reiterated a "buy" rating and issued a $25.00 price target on shares of Humacyte in a research report on Monday, August 11th. TD Cowen lowered their price objective on shares of Humacyte from $5.00 to $3.50 and set a "buy" rating for the company in a research report on Tuesday, August 12th. HC Wainwright decreased their target price on shares of Humacyte from $4.00 to $3.00 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. Finally, Wall Street Zen cut shares of Humacyte from a "hold" rating to a "sell" rating in a research note on Sunday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Humacyte has an average rating of "Buy" and an average target price of $9.75.

Humacyte Stock Down 3.5%

Shares of NASDAQ HUMA traded down $0.06 during trading on Tuesday, hitting $1.50. 1,330,049 shares of the company traded hands, compared to its average volume of 4,001,364. The business's fifty day moving average is $2.13 and its 200 day moving average is $2.23. Humacyte, Inc. has a fifty-two week low of $1.15 and a fifty-two week high of $6.77. The firm has a market capitalization of $236.76 million, a price-to-earnings ratio of -3.30 and a beta of 1.88. The company has a debt-to-equity ratio of 2.97, a quick ratio of 1.93 and a current ratio of 2.45.

Humacyte (NASDAQ:HUMA - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.09). The firm had revenue of $0.30 million for the quarter, compared to analysts' expectations of $0.94 million. Equities research analysts predict that Humacyte, Inc. will post -1.27 earnings per share for the current fiscal year.

Insider Transactions at Humacyte

In other Humacyte news, CEO Laura E. Niklason sold 591,685 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $1.58, for a total value of $934,862.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brady W. Dougan sold 591,685 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $1.58, for a total value of $934,862.30. The disclosure for this sale can be found here. Insiders sold a total of 4,482,090 shares of company stock worth $7,466,382 in the last 90 days. 5.10% of the stock is currently owned by company insiders.

Humacyte 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.