BTIG Research Reaffirms Buy Rating for Humacyte (NASDAQ:HUMA)

Key Points

• BTIG Research reaffirmed its Buy rating on Humacyte and maintained a $2.00 price target, implying roughly 209% upside from the reported $0.65 share price.
• Analyst sentiment is mixed but leans positive: seven analysts rate Humacyte a Buy and one rates it a Sell, producing a consensus “Moderate Buy” rating and an average target price of $6.25.
• Humacyte reported a quarterly loss of $0.09 per share, slightly better than estimates, but revenue of $0.49 million fell well short of the $1.46 million consensus forecast; the stock remains near its 52-week low.

Humacyte (NASDAQ:HUMA - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at BTIG Research in a report issued on Tuesday,Benzinga reports. They currently have a $2.00 price objective on the stock. BTIG Research's price target suggests a potential upside of 208.64% from the stock's current price.

A number of other brokerages also recently commented on HUMA. Wall Street Zen downgraded Humacyte from a "sell" rating to a "strong sell" rating in a research note on Sunday, July 12th. Benchmark boosted their price target on Humacyte to $2.00 and gave the company a "speculative buy" rating in a report on Monday, June 1st. HC Wainwright upped their price objective on Humacyte from $3.00 to $4.00 and gave the stock a "buy" rating in a research report on Thursday, June 11th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Humacyte in a report on Wednesday, July 8th. Finally, D. Boral Capital reaffirmed a "buy" rating and set a $25.00 target price on shares of Humacyte in a report on Tuesday, April 28th. 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 currently has an average rating of "Moderate Buy" and an average target price of $6.25.

Humacyte Stock Performance

Shares of Humacyte stock traded down $0.03 during trading on Tuesday, hitting $0.65. 1,381,380 shares of the company's stock were exchanged, compared to its average volume of 8,209,707. The stock has a market capitalization of $143.87 million, a price-to-earnings ratio of -1.15 and a beta of 2.52. The business has a 50-day simple moving average of $0.92 and a 200-day simple moving average of $0.94. Humacyte has a 52-week low of $0.55 and a 52-week high of $2.76. The company has a debt-to-equity ratio of 5.46, a quick ratio of 3.32 and a current ratio of 3.93.

Humacyte (NASDAQ:HUMA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.01. The company 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%. On average, research analysts forecast that Humacyte will post -0.34 EPS for the current year.

Insider Activity at Humacyte

In other Humacyte news, Director Kathleen Sebelius acquired 56,818 shares of the company's stock in a transaction on Tuesday, May 19th. The shares were bought at an average cost of $0.88 per share, with a total value of $49,999.84. Following the completion of the acquisition, the director owned 148,025 shares in the company, valued at approximately $130,262. This trade represents a 62.30% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Shamik J. Parikh sold 45,887 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at $245,441.70. This trade represents a 14.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 3.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Prudential Financial Inc. purchased a new stake in Humacyte in the 2nd quarter worth $28,000. Financial Advisors Network Inc. acquired a new stake in shares of Humacyte in the second quarter valued at about $28,000. Cerity Partners LLC acquired a new stake in shares of Humacyte in the second quarter valued at about $35,000. Equitable Holdings Inc. purchased a new stake in shares of Humacyte during the third quarter worth about $29,000. Finally, Imprint Wealth LLC acquired a new position in shares of Humacyte during the 3rd quarter worth about $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.

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