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

Key Points

• Barclays cut its price target on Humacyte from $3.50 to $1.50 but kept an "overweight" rating, with the $1.50 target implying about a 131.8% upside from the recent close (~$0.65).
• Analyst views are mixed—seven Buys and one Sell produce a MarketBeat consensus of "Moderate Buy" and an average target of $7.43, yet recent downgrades and wide target dispersion (up to $25) sit alongside weak fundamentals: shares at $0.65, negative EPS/revenue misses and a market cap near $144M.

Humacyte (NASDAQ:HUMA - Get Free Report) had its target price lowered by research analysts at Barclays from $3.50 to $1.50 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Barclays's target price points to a potential upside of 131.84% from the company's previous close.

HUMA has been the topic of a number of other research reports. BTIG Research reduced their price target on shares of Humacyte from $6.00 to $3.00 and set a "buy" rating on the stock in a research note on Friday, March 27th. Weiss Ratings restated a "sell (d-)" rating on shares of Humacyte in a research note on Monday, December 29th. Benchmark reduced their price target on shares of Humacyte from $11.00 to $10.00 and set a "buy" rating on the stock in a research note on Wednesday, January 21st. Wall Street Zen downgraded Humacyte from a "hold" rating to a "sell" rating in a report on Sunday, December 21st. Finally, D. Boral Capital reissued a "buy" rating and set a $25.00 price objective on shares of Humacyte in a report on Friday, March 27th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $7.43.

Humacyte Price Performance

Humacyte stock traded up $0.04 during trading hours on Wednesday, reaching $0.65. 1,872,878 shares of the stock were exchanged, compared to its average volume of 6,761,642. The company has a market cap of $143.65 million, a P/E ratio of -3.24 and a beta of 2.11. The company has a current ratio of 3.69, a quick ratio of 0.90 and a debt-to-equity ratio of 20.08. Humacyte has a twelve month low of $0.55 and a twelve month high of $2.93. The stock has a 50 day moving average of $0.98 and a two-hundred day moving average of $1.23.

Humacyte (NASDAQ:HUMA - Get Free Report) last announced its quarterly earnings data on Friday, March 27th. The company reported ($0.13) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.13). The firm had revenue of $0.47 million for the quarter, compared to the consensus estimate of $1.35 million. Humacyte had a negative net margin of 1,998.87% and a negative return on equity of 990.48%. Equities analysts expect that Humacyte will post -1.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Marshall Wace LLP raised its stake in Humacyte by 5,308.2% during the 2nd 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. Millennium Management LLC raised its stake in Humacyte by 129.5% during the 4th quarter. Millennium Management LLC now owns 2,631,990 shares of the company's stock worth $2,528,000 after buying an additional 1,485,152 shares during the period. UBS Group AG raised its holdings in Humacyte by 48.8% during the fourth quarter. UBS Group AG now owns 2,978,610 shares of the company's stock worth $2,862,000 after buying an additional 976,275 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Humacyte by 33.4% in the second quarter. Geode Capital Management LLC now owns 2,948,508 shares of the company's stock valued at $6,163,000 after buying an additional 738,142 shares in the last quarter. Finally, Barclays PLC lifted its stake in shares of Humacyte by 298.7% in the fourth quarter. Barclays PLC now owns 729,469 shares of the company's stock valued at $701,000 after buying an additional 546,491 shares in the last quarter. Institutional investors and hedge funds 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.

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