State Street Corp Sells 2,201,392 Shares of Humacyte, Inc. $HUMA

Key Points

• State Street Corp. cut its Humacyte stake by 72.3%, selling 2.2 million shares and retaining 842,537 shares worth approximately $658,000. Institutional investors and hedge funds collectively own 44.71% of HUMA.
• Humacyte shares opened at $0.56, near their 12-month low of $0.53, after the company reported a quarterly loss of $0.16 per share and revenue of $0.41 million—both worse than analyst expectations.
• Analyst sentiment remains mixed but leans positive, with six Buy ratings and one Sell rating, producing a “Moderate Buy” consensus and a $6.54 average target price; however, several firms recently lowered their targets.

State Street Corp lessened its holdings in shares of Humacyte, Inc. (NASDAQ:HUMA - Free Report) by 72.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 842,537 shares of the company's stock after selling 2,201,392 shares during the period. State Street Corp owned 0.30% of Humacyte worth $658,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Beacon Pointe Advisors LLC bought a new position in Humacyte in the 2nd quarter worth approximately $28,000. R Squared Ltd boosted its position in Humacyte by 140.5% during the 1st quarter. R Squared Ltd now owns 62,911 shares of the company's stock worth $38,000 after acquiring an additional 36,758 shares during the period. Bank of New York Mellon Corp acquired a new position in Humacyte during the 2nd quarter worth $44,000. Fisher Asset Management LLC acquired a new position in Humacyte during the 4th quarter worth $47,000. Finally, Sei Investments Co. bought a new position in shares of Humacyte in the first quarter worth $56,000. 44.71% of the stock is currently owned by institutional investors and hedge funds.

Humacyte Stock Down 2.0%

NASDAQ HUMA opened at $0.56 on Friday. Humacyte, Inc. has a 12 month low of $0.53 and a 12 month high of $2.55. The company has a market capitalization of $154.82 million, a P/E ratio of -1.14 and a beta of 2.45. The company's 50 day simple moving average is $0.63 and its 200 day simple moving average is $0.80. 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 (NASDAQ:HUMA - Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.05). The business had revenue of $0.41 million for the quarter, compared to the consensus estimate of $1.04 million. Humacyte had a negative return on equity of 983.32% and a negative net margin of 4,556.29%. Equities research analysts expect that Humacyte, Inc. will post -0.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. TD Cowen cut their price objective on shares of Humacyte from $1.50 to $1.25 and set a "buy" rating on the stock in a research note on Wednesday, June 17th. HC Wainwright raised their target price on shares of Humacyte from $3.00 to $4.00 and gave the company a "buy" rating in a research note on Thursday, June 11th. BTIG Research reaffirmed a "buy" rating and issued a $2.00 price target on shares of Humacyte in a research note on Wednesday, August 12th. Benchmark lowered their price objective on shares of Humacyte from $2.00 to $1.00 and set a "speculative buy" rating on the stock in a research note on Thursday, August 13th. Finally, Wall Street Zen downgraded Humacyte from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Humacyte has an average rating of "Moderate Buy" and a consensus target price of $6.54.

Humacyte Company Profile

Humacyte, Inc is a biotechnology company developing and commercializing off-the-shelf, bioengineered human tissues for use in vascular repair and regenerative medicine. Its technology is based on human acellular tissue-engineered vessels, which are designed to provide durable vascular conduits without requiring a patient-specific donor vessel.

The company's lead product, Symvess, is an acellular tissue-engineered vessel approved by the U.S. Food and Drug Administration for the treatment of extremity arterial injuries in adults when emergency vascular repair is needed and a suitable vein is unavailable or inappropriate.

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