Humacyte (NASDAQ:HUMA) Receives “Buy” Rating from BTIG Research

Humacyte (NASDAQ:HUMA)‘s stock had its “buy” rating reiterated by equities research analysts at BTIG Research in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $2.00 price target on the stock. BTIG Research’s price objective would indicate a potential upside of 208.64% from the stock’s current price.

A number of other equities analysts also recently commented on the company. TD Cowen reduced their price objective on Humacyte from $1.50 to $1.25 and set a “buy” rating on the stock in a research report on Wednesday, June 17th. Wall Street Zen downgraded Humacyte from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 12th. HC Wainwright lifted their price target on Humacyte from $3.00 to $4.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Weiss Ratings reissued a “sell (e+)” rating on shares of Humacyte in a research report on Wednesday, July 8th. Finally, Benchmark upped their price objective on shares of Humacyte to $2.00 and gave the company a “speculative buy” rating in a report on Monday, June 1st. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $6.25.

Humacyte Price Performance

NASDAQ HUMA traded down $0.03 during trading hours on Tuesday, hitting $0.65. 1,381,380 shares of the company’s stock traded hands, compared to its average volume of 8,209,707. The company has a market capitalization of $143.87 million, a PE ratio of -1.15 and a beta of 2.52. The company has a debt-to-equity ratio of 5.46, a current ratio of 3.93 and a quick ratio of 3.32. Humacyte has a 52-week low of $0.55 and a 52-week high of $2.76. The firm’s 50-day moving average is $0.92 and its 200-day moving average is $0.94.

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

Insiders Place Their Bets

In other Humacyte news, CFO Dale A. Sander sold 45,887 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $0.90, for a total transaction of $41,298.30. Following the completion of the sale, the chief financial officer owned 267,213 shares of the company’s stock, valued at $240,491.70. This trade represents a 14.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Shamik J. Parikh sold 45,887 shares of Humacyte stock in a transaction on Monday, May 18th. The shares were 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 in the company, valued at $245,441.70. This represents a 14.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 3.10% of the stock is owned by insiders.

Institutional Trading of Humacyte

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