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Woodline Partners LP Acquires 1,101,198 Shares of Humacyte, Inc. $HUMA

Humacyte logo with Medical background

Key Points

  • Woodline Partners LP increased its stake in Humacyte, Inc. by 38.7% during Q1, owning approximately 2.55% of the company, worth $6.73 million.
  • Insider trading was notable, with CEO Laura E. Niklason and Director Brady W. Dougan each selling 591,685 shares at an average price of $1.58.
  • Humacyte reported a loss of $0.24 per share in its latest earnings, below the expected loss of $0.15, with revenues of only $0.30 million against estimates of $0.94 million.
  • Five stocks to consider instead of Humacyte.

Woodline Partners LP raised its stake in Humacyte, Inc. (NASDAQ:HUMA - Free Report) by 38.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,950,000 shares of the company's stock after acquiring an additional 1,101,198 shares during the quarter. Woodline Partners LP owned approximately 2.55% of Humacyte worth $6,735,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Monashee Investment Management LLC purchased a new position in Humacyte in the first quarter valued at about $3,410,000. Polar Asset Management Partners Inc. purchased a new position in Humacyte in the first quarter valued at about $852,000. Northern Trust Corp boosted its stake in Humacyte by 11.5% in the fourth quarter. Northern Trust Corp now owns 901,194 shares of the company's stock valued at $4,551,000 after acquiring an additional 92,708 shares during the last quarter. ProShare Advisors LLC boosted its stake in Humacyte by 30.4% in the fourth quarter. ProShare Advisors LLC now owns 30,852 shares of the company's stock valued at $156,000 after acquiring an additional 7,188 shares during the last quarter. Finally, Nuveen LLC purchased a new position in Humacyte in the first quarter valued at about $502,000. 44.71% of the stock is currently owned by hedge funds and other institutional investors.

Humacyte Price Performance

Humacyte stock traded up $0.24 during midday trading on Thursday, reaching $1.77. 5,709,642 shares of the stock were exchanged, compared to its average volume of 3,914,707. The company's fifty day moving average is $1.94 and its 200-day moving average is $2.08. 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 firm has a market cap of $279.52 million, a PE ratio of -3.92 and a beta of 1.87. Humacyte, Inc. has a 52 week low of $1.15 and a 52 week high of $6.77.

Humacyte (NASDAQ:HUMA - Get Free Report) last posted 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 company had revenue of $0.30 million for the quarter, compared to analyst estimates of $0.94 million. On average, sell-side analysts forecast that Humacyte, Inc. will post -1.27 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Laura E. Niklason sold 1,100,000 shares of the stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $1.63, for a total transaction of $1,793,000.00. Following the transaction, the chief executive officer owned 591,685 shares of the company's stock, valued at approximately $964,446.55. This trade represents a 65.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brady W. Dougan sold 1,100,000 shares of the stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $1.63, for a total transaction of $1,793,000.00. Following the transaction, the director directly owned 591,685 shares in the company, valued at approximately $964,446.55. This represents a 65.02% decrease in their position. 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 three months. Insiders own 5.10% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on HUMA shares. D. Boral Capital reiterated a "buy" rating and issued a $25.00 target price on shares of Humacyte in a research note on Monday. HC Wainwright dropped 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. Barclays assumed coverage on shares of Humacyte in a research report on Wednesday, August 27th. They issued an "overweight" rating and a $3.50 price target on the stock. TD Cowen lowered their price target on shares of Humacyte from $5.00 to $3.50 and set a "buy" rating on the stock in a research report on Tuesday, August 12th. Finally, Wall Street Zen lowered shares of Humacyte from a "hold" rating to a "sell" rating in a research report on Sunday, August 17th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Humacyte currently has an average rating of "Moderate Buy" and a consensus price target of $9.75.

Read Our Latest Research Report on Humacyte

Humacyte Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Humacyte (NASDAQ:HUMA)

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