Heights Capital Management Inc. Acquires New Shares 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. purchased a new position in shares of Humacyte, Inc. (NASDAQ:HUMA - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 4,025,000 shares of the company's stock, valued at approximately $6,863,000. Humacyte makes up 3.4% of Heights Capital Management Inc.'s investment portfolio, making the stock its 5th largest position. Heights Capital Management Inc. owned 2.59% of Humacyte as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Woodline Partners LP raised its stake in shares of Humacyte by 235.7% in the 4th quarter. Woodline Partners LP now owns 2,848,802 shares of the company's stock valued at $14,386,000 after acquiring an additional 2,000,268 shares in the last quarter. Monashee Investment Management LLC bought a new position in Humacyte in the 1st quarter worth approximately $3,410,000. CenterBook Partners LP increased its position in Humacyte by 11.1% in the 1st quarter. CenterBook Partners LP now owns 1,422,512 shares of the company's stock worth $2,425,000 after buying an additional 142,673 shares during the period. Maven Securities LTD bought a new position in Humacyte in the 1st quarter worth approximately $1,790,000. Finally, Northern Trust Corp increased its position in Humacyte by 11.5% in 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. 44.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on HUMA. Benchmark dropped their price target on Humacyte from $17.00 to $14.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Barclays began coverage on Humacyte in a research report on Wednesday. They issued an "overweight" rating and a $3.50 price target on the stock. TD Cowen dropped their price target on Humacyte from $5.00 to $3.50 and set a "buy" rating on the stock in a research report on Tuesday, August 12th. D. Boral Capital reaffirmed a "buy" rating and issued a $25.00 price target on shares of Humacyte in a research report on Monday, August 11th. Finally, Wall Street Zen downgraded Humacyte from a "hold" rating to a "sell" rating in a research report on Sunday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $9.75.

Humacyte Price Performance

Humacyte stock traded down $0.03 on Friday, reaching $1.55. The company's stock had a trading volume of 2,383,065 shares, compared to its average volume of 6,075,643. The company has a market cap of $245.47 million, a price-to-earnings ratio of -3.44 and a beta of 1.90. Humacyte, Inc. has a twelve month low of $1.15 and a twelve month high of $6.77. The company has a debt-to-equity ratio of 2.97, a quick ratio of 1.93 and a current ratio of 2.45. The business's fifty day moving average price is $2.14 and its 200 day moving average price is $2.25.

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

Insiders Place Their Bets

In other news, Director Brady W. Dougan sold 591,685 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $1.58, for a total transaction of $934,862.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Laura E. Niklason sold 591,685 shares of the business's stock in a transaction 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. In the last 90 days, insiders have sold 4,482,090 shares of company stock valued at $7,466,382. 5.10% of the stock is currently owned by corporate insiders.

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.