BTIG Research Lowers Humacyte (NASDAQ:HUMA) Price Target to $3.00

Humacyte (NASDAQ:HUMA) had its target price dropped by BTIG Research from $6.00 to $3.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price target points to a potential upside of 323.73% from the company’s previous close.

A number of other analysts have also weighed in on the stock. Benchmark decreased their target price on shares of Humacyte from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, January 21st. UBS Group reiterated a “buy” rating on shares of Humacyte in a research report on Monday, December 1st. Wall Street Zen lowered Humacyte from a “hold” rating to a “sell” rating in a research note on Sunday, December 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Humacyte in a research note on Monday, December 29th. Finally, HC Wainwright reiterated a “buy” rating and set a $3.00 price target on shares of Humacyte in a research report on Monday, December 1st. Seven research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $7.71.

Humacyte Price Performance

NASDAQ HUMA traded down $0.07 during trading hours on Friday, hitting $0.71. The company had a trading volume of 4,771,957 shares, compared to its average volume of 6,601,477. The company has a debt-to-equity ratio of 2.97, a quick ratio of 0.90 and a current ratio of 1.62. The firm has a market capitalization of $132.59 million, a price-to-earnings ratio of -3.10 and a beta of 1.89. Humacyte has a 52 week low of $0.70 and a 52 week high of $2.93. The firm has a 50 day simple moving average of $1.05 and a 200 day simple moving average of $1.29.

Hedge Funds Weigh In On Humacyte

Hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC increased its position in shares of Humacyte by 33.4% during 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. Police & Firemen s Retirement System of New Jersey grew its position in Humacyte by 74.1% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 30,774 shares of the company’s stock valued at $64,000 after acquiring an additional 13,101 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Humacyte by 31.3% during the second quarter. JPMorgan Chase & Co. now owns 70,067 shares of the company’s stock worth $146,000 after acquiring an additional 16,702 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Humacyte by 51.1% in the 2nd quarter. Rhumbline Advisers now owns 177,623 shares of the company’s stock worth $371,000 after acquiring an additional 60,059 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new stake in shares of Humacyte in the 2nd quarter valued at $28,000. 44.71% of the stock is currently owned by hedge funds and other institutional investors.

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.