TD Cowen Has Lowered Expectations for Humacyte (NASDAQ:HUMA) Stock Price

Humacyte (NASDAQ:HUMA) had its target price reduced by analysts at TD Cowen from $1.50 to $1.25 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s price objective would indicate a potential upside of 26.39% from the company’s previous close.

A number of other research analysts also recently weighed in on HUMA. Wall Street Zen upgraded shares of Humacyte from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. D. Boral Capital reaffirmed a “buy” rating and issued a $25.00 target price on shares of Humacyte in a research report on Tuesday, April 28th. HC Wainwright boosted their target price on shares of Humacyte from $3.00 to $4.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Benchmark increased their price target on Humacyte to $2.00 and gave the company a “speculative buy” rating in a report on Monday, June 1st. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Humacyte in a research note on Friday, April 10th. Seven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $6.25.

Humacyte Stock Performance

NASDAQ:HUMA traded down $0.04 during mid-day trading on Wednesday, reaching $0.99. The company’s stock had a trading volume of 3,786,870 shares, compared to its average volume of 6,746,621. Humacyte has a 12-month low of $0.55 and a 12-month high of $2.84. The firm’s fifty day moving average price is $0.97 and its two-hundred day moving average price is $1.03. The company has a current ratio of 3.93, a quick ratio of 3.32 and a debt-to-equity ratio of 5.46. The stock has a market cap of $219.58 million, a P/E ratio of -1.74 and a beta of 2.45.

Humacyte (NASDAQ:HUMA) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. Humacyte had a negative net margin of 4,836.06% and a negative return on equity of 2,914.18%. The firm had revenue of $0.50 million for the quarter, compared to the consensus estimate of $1.46 million. On average, equities analysts forecast that Humacyte will post -0.3 EPS for the current fiscal year.

Insiders Place Their Bets

In other Humacyte news, Director Kathleen Sebelius acquired 56,818 shares of the business’s stock in a transaction dated Tuesday, May 19th. The stock was purchased at an average price of $0.88 per share, with a total value of $49,999.84. Following the transaction, the director directly owned 148,025 shares in the company, valued at approximately $130,262. The trade was a 62.30% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shamik J. Parikh sold 45,887 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $0.90, for a total value of $41,298.30. Following the completion of the sale, the insider owned 272,713 shares of the company’s stock, valued at $245,441.70. This trade represents a 14.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 3.10% of the company’s stock.

Institutional Trading of Humacyte

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Prudential Financial Inc. bought a new position in shares of Humacyte in the second quarter worth about $28,000. Financial Advisors Network Inc. purchased a new position in shares of Humacyte during the 2nd quarter valued at about $28,000. Cerity Partners LLC bought a new position in shares of Humacyte during the 2nd quarter valued at approximately $35,000. Equitable Holdings Inc. purchased a new stake in Humacyte in the 3rd quarter worth approximately $29,000. Finally, Imprint Wealth LLC purchased a new stake in Humacyte in the 3rd quarter worth approximately $33,000. Hedge funds and other institutional investors own 44.71% of the company’s stock.

About Humacyte

Humacyte, Inc is a clinical-stage biotechnology company focused on the development and manufacturing of off-the-shelf, regenerative human acellular vessels (HAVs) designed to address critical vascular access needs. The company’s proprietary vessels are engineered from human donor cells and then decellularized to create a biocompatible scaffold capable of integrating with a patient’s own tissue. Humacyte’s primary business activities encompass process development, large-scale manufacturing, and clinical evaluation of HAVs for use in end-stage renal disease, peripheral arterial disease and other vascular repair applications.

The company’s lead product candidate, the HAV, has advanced through multiple clinical trials for arteriovenous access in hemodialysis patients, demonstrating durability, reduced infection rates and compatibility with repeated cannulation.