Humacyte’s (HUMA) Buy Rating Reiterated at BTIG Research

BTIG Research reaffirmed their buy rating on shares of Humacyte (NASDAQ:HUMA) in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a $2.00 target price on the stock.

Several other equities analysts also recently commented on the stock. Wall Street Zen downgraded shares of Humacyte from a “sell” rating to a “strong sell” rating in a report on Sunday, July 12th. HC Wainwright upped their target price on shares of Humacyte from $3.00 to $4.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Benchmark raised their target price on shares of Humacyte to $2.00 and gave the company a “speculative buy” rating in a research note on Monday, June 1st. TD Cowen reduced their price target on shares of Humacyte from $1.50 to $1.25 and set a “buy” rating on the stock in a report on Wednesday, June 17th. Finally, D. Boral Capital reiterated a “buy” rating and issued a $25.00 price target on shares of Humacyte in a research note on Tuesday, April 28th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $6.25.

Humacyte Stock Performance

NASDAQ:HUMA opened at $0.67 on Tuesday. The stock has a 50-day moving average price of $0.91 and a 200 day moving average price of $0.93. The stock has a market capitalization of $149.11 million, a P/E ratio of -1.18 and a beta of 2.52. Humacyte has a 12-month low of $0.55 and a 12-month high of $2.76. The company has a current ratio of 3.93, a quick ratio of 3.32 and a debt-to-equity ratio of 5.46.

Humacyte (NASDAQ:HUMA) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. Humacyte had a negative return on equity of 2,914.18% and a negative net margin of 4,836.06%.The company had revenue of $0.49 million for the quarter, compared to analysts’ expectations of $1.46 million. Equities research analysts forecast that Humacyte will post -0.34 EPS for the current fiscal year.

Insider Transactions at Humacyte

In related news, Director Kathleen Sebelius purchased 56,818 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was bought at an average price of $0.88 per share, for a total transaction of $49,999.84. Following the completion of the transaction, the director owned 148,025 shares in the company, valued at approximately $130,262. The trade was a 62.30% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Dale A. Sander sold 45,887 shares of Humacyte stock in a transaction dated 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 transaction, the chief financial officer owned 267,213 shares of the company’s stock, valued at approximately $240,491.70. This represents a 14.66% decrease in their position. 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 Investors Weigh In On Humacyte

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HUMA. Geode Capital Management LLC lifted its stake in shares of Humacyte by 33.4% in the 2nd quarter. Geode Capital Management LLC now owns 2,948,508 shares of the company’s stock valued at $6,163,000 after purchasing an additional 738,142 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Humacyte by 31.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 70,067 shares of the company’s stock valued at $146,000 after buying an additional 16,702 shares during the period. Rhumbline Advisers lifted its position in Humacyte by 51.1% in the second quarter. Rhumbline Advisers now owns 177,623 shares of the company’s stock worth $371,000 after buying an additional 60,059 shares during the last quarter. Prudential Financial Inc. bought a new stake in Humacyte in the second quarter worth $28,000. Finally, Marshall Wace LLP boosted its stake in Humacyte by 5,308.2% during the second quarter. Marshall Wace LLP now owns 2,639,194 shares of the company’s stock worth $5,516,000 after buying an additional 2,590,394 shares during the period. 44.71% of the stock is currently owned by hedge funds and other institutional investors.

Humacyte Company Profile

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.