Humacyte (NASDAQ:HUMA) Shares Up 6.2% on Insider Buying Activity

Humacyte, Inc. (NASDAQ:HUMA - Get Free Report)'s share price traded up 6.2% during trading on Thursday following insider buying activity. The company traded as high as $7.02 and last traded at $6.87. 1,778,050 shares were traded during trading, an increase of 43% from the average session volume of 1,243,419 shares. The stock had previously closed at $6.47.

Specifically, Director Gordon M. Binder purchased 50,000 shares of the company's stock in a transaction on Wednesday, May 15th. The shares were bought at an average cost of $6.78 per share, with a total value of $339,000.00. Following the transaction, the director now directly owns 160,000 shares in the company, valued at approximately $1,084,800. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 23.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HUMA. Benchmark reaffirmed a "buy" rating and issued a $15.00 price target on shares of Humacyte in a research note on Monday. Piper Sandler reaffirmed a "neutral" rating and issued a $4.00 price target on shares of Humacyte in a research note on Tuesday, March 26th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $7.00 price target on shares of Humacyte in a research note on Monday, April 1st.

Humacyte Trading Down 0.8 %

The company has a current ratio of 4.52, a quick ratio of 4.52 and a debt-to-equity ratio of 1.20. The firm has a market cap of $764.49 million, a price-to-earnings ratio of -6.42 and a beta of 1.27. The company has a 50 day moving average of $3.68 and a 200 day moving average of $3.24.

Humacyte (NASDAQ:HUMA - Get Free Report) last posted its quarterly earnings data on Friday, March 22nd. The company reported ($0.24) EPS for the quarter, topping analysts' consensus estimates of ($0.25) by $0.01. During the same period last year, the business posted ($0.21) earnings per share. As a group, research analysts anticipate that Humacyte, Inc. will post -0.9 EPS for the current year.

Hedge Funds Weigh In On Humacyte

A number of institutional investors and hedge funds have recently bought and sold shares of HUMA. SG Americas Securities LLC acquired a new position in Humacyte in the third quarter worth $31,000. Commonwealth Equity Services LLC bought a new stake in shares of Humacyte during the third quarter worth $37,000. Private Advisor Group LLC raised its position in shares of Humacyte by 126.1% during the third quarter. Private Advisor Group LLC now owns 94,980 shares of the company's stock worth $278,000 after acquiring an additional 52,980 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of Humacyte during the third quarter worth $53,000. Finally, Clough Capital Partners L P bought a new stake in shares of Humacyte during the third quarter worth $232,000. Institutional investors and hedge funds own 44.71% of the company's stock.

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.