Polar Asset Management Partners Inc. Buys Shares of 500,000 Humacyte, Inc. $HUMA

Key Points

• Polar Asset Management Partners Inc. acquired a new stake in Humacyte, Inc., purchasing 500,000 shares valued at approximately $852,000, representing a 0.32% ownership in the company.
• Insider trading activity included significant sales by both the Director and CEO, each selling 1.1 million shares at $1.63, resulting in a 65.02% decrease in their holdings.
• Several analysts have downgraded their target prices for Humacyte, with TD Cowen reducing theirs from $5.00 to $3.50, while the average target price is now $9.75 according to market estimates.

Polar Asset Management Partners Inc. bought a new stake in Humacyte, Inc. (NASDAQ:HUMA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 500,000 shares of the company's stock, valued at approximately $852,000. Polar Asset Management Partners Inc. owned about 0.32% of Humacyte at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Columbia Advisory Partners LLC bought a new position in Humacyte during the 1st quarter valued at approximately $27,000. Hamilton Lane Advisors LLC bought a new position in shares of Humacyte in the 1st quarter worth approximately $37,000. Letko Brosseau & Associates Inc. bought a new position in shares of Humacyte in the 1st quarter worth approximately $42,000. Ameriprise Financial Inc. bought a new position in shares of Humacyte in the 4th quarter worth approximately $58,000. Finally, Hsbc Holdings PLC bought a new position in shares of Humacyte in the 4th quarter worth approximately $62,000. Institutional investors own 44.71% of the company's stock.

Insider Activity at Humacyte

In other news, Director Brady W. Dougan sold 1,100,000 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $1.63, for a total transaction of $1,793,000.00. Following the transaction, the director owned 591,685 shares of the company's stock, valued at approximately $964,446.55. The trade was a 65.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Laura E. Niklason sold 1,100,000 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $1.63, for a total value of $1,793,000.00. Following the transaction, the chief executive officer 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. In the last three months, insiders have sold 4,482,090 shares of company stock worth $7,466,382. Corporate insiders own 5.10% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. HC Wainwright cut their price target on Humacyte from $4.00 to $3.00 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. D. Boral Capital restated a "buy" rating and issued a $25.00 price target on shares of Humacyte in a research note on Monday, August 11th. Barclays started coverage on Humacyte in a research note on Wednesday, August 27th. They issued an "overweight" rating and a $3.50 price target on the stock. Wall Street Zen downgraded Humacyte from a "hold" rating to a "sell" rating in a research note on Sunday, August 17th. Finally, TD Cowen cut their target price on Humacyte from $5.00 to $3.50 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $9.75.

Humacyte Price Performance

Shares of HUMA stock traded down $0.03 during trading hours on Friday, hitting $1.48. The stock had a trading volume of 551,069 shares, compared to its average volume of 3,925,022. The stock's 50-day moving average price is $2.01 and its two-hundred day moving average price is $2.13. The company has a debt-to-equity ratio of 2.97, a current ratio of 2.45 and a quick ratio of 1.93. Humacyte, Inc. has a one year low of $1.15 and a one year high of $6.77. The stock has a market capitalization of $233.60 million, a price-to-earnings ratio of -3.28 and a beta of 1.87.

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 the consensus estimate of ($0.15) by ($0.09). The firm had revenue of $0.30 million during the quarter, compared to analysts' expectations of $0.94 million. Equities analysts forecast that Humacyte, Inc. will post -1.27 EPS for the current year.

About Humacyte

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.