State Street Corp. sold 2,201,392 shares of Humacyte, Inc., reducing its stake by 72.3%. It now owns 842,537 shares, or 0.30% of the company, valued at approximately $658,000.
Humacyte shares opened at $0.56, near their 12-month low. The company reported a quarterly loss of $0.16 per share, missing analyst expectations. Revenue was $0.41 million, also below expectations.
Analysts have a consensus rating of “Moderate Buy” and an average price target of $6.54. Institutional investors and hedge funds collectively own 44.71% of Humacyte’s stock.