Humacyte (NASDAQ:HUMA) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Key Points

• Humacyte reported a quarterly loss of $0.06 per share, beating the consensus loss estimate of $0.10, while revenue of $1.03 million topped the $0.77 million estimate.
• SYMVESS sales climbed 151% sequentially to just over $1 million, with 49 hospitals ordering by quarter-end; management expects fourth-quarter sales to at least double Q3’s level.
• The company plans to submit a dialysis-access application to the FDA later this month and has begun a Phase IIa study of its coronary vessel product. Humacyte ended the quarter with $64.9 million in cash and restricted cash, after $15.5 million in net losses.

Humacyte (NASDAQ:HUMA - Get Free Report) issued its quarterly earnings data on Tuesday. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.04, FiscalAI reports. Humacyte had a negative return on equity of 983.32% and a negative net margin of 4,556.29%. The business had revenue of $1.03 million during the quarter, compared to the consensus estimate of $0.77 million.

Here are the key takeaways from Humacyte's conference call:

• Symvess sales and hospital adoption accelerated: Third-quarter sales rose 151% sequentially to just over $1 million, with 49 hospitals ordering by quarter-end, up from 34. October sales reached $800,000, and management expects fourth-quarter sales to at least double Q3.
• Humacyte plans to submit its dialysis-access sBLA later this month, supported by three Phase III studies. The FDA’s review designation is not yet known: management outlined a potential launch around June 2027 with priority review, or after September without it.
• The company initiated its first-in-human Phase IIa study of its coronary tissue-engineered vessel for bypass surgery and is screening patients; it has also completed the first commercial-scale manufacturing lot for the product.
• Humacyte reported a Q3 net loss of $15.5 million and $15.0 million in operating cash use, although cash, cash equivalents, and restricted cash totaled $64.9 million at quarter-end. Cost of goods sold was $1.4 million against $1 million in sales, largely reflecting underused production capacity, which management expects to continue affecting Q4.

Humacyte Trading Up 24.3%

Shares of Humacyte stock traded up $0.11 on Tuesday, hitting $0.57. 9,327,904 shares of the company's stock traded hands, compared to its average volume of 7,551,102. The stock has a market capitalization of $157.23 million, a PE ratio of -1.15 and a beta of 2.64. The company has a debt-to-equity ratio of 2.07, a current ratio of 6.21 and a quick ratio of 5.74. Humacyte has a one year low of $0.34 and a one year high of $1.52. The firm's 50-day moving average price is $0.49 and its two-hundred day moving average price is $0.79.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Barclays upgraded shares of Humacyte to a "hold" rating in a research note on Wednesday, October 7th. Wall Street Zen downgraded shares of Humacyte from a "sell" rating to a "strong sell" rating in a report on Saturday, August 15th. Benchmark decreased their price objective on Humacyte from $2.00 to $1.00 and set a "speculative buy" rating for the company in a report on Thursday, August 13th. HC Wainwright restated a "buy" rating on shares of Humacyte in a report on Friday, October 16th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Humacyte in a research report on Friday, October 2nd. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $4.96.

Humacyte Company Profile

Humacyte, Inc is a biotechnology company developing bioengineered human tissues for use in regenerative medicine and vascular repair. The company's platform is designed to create implantable, off-the-shelf tissues that can be stored and used when needed without requiring the collection of tissue from the patient.

Its primary product is SYMVESS, an acellular tissue-engineered vessel intended to replace or repair damaged blood vessels. In December 2024, the U.S. Food and Drug Administration approved SYMVESS for use in the urgent treatment of extremity arterial injuries when emergency vascular reconstruction is required.

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