Humacyte, Inc. (NASDAQ:HUMA) Given Average Recommendation of "Buy" by Analysts

Key Points

• Humacyte, Inc. has received a consensus rating of "Buy" from analysts, with an average 12-month price target of $10.64.
• Director Brady W. Dougan and CEO Laura E. Niklason both sold 1.1 million shares at an average price of $1.63, resulting in a 65.02% decrease in their ownership.
• For the last quarter, Humacyte reported earnings of ($0.24) per share, missing analyst estimates, with revenues of only $0.30 million compared to expectations of $0.94 million.

Shares of Humacyte, Inc. (NASDAQ:HUMA - Get Free Report) have been given a consensus rating of "Buy" by the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $9.75.

Several analysts recently commented on HUMA shares. Barclays assumed coverage on shares of Humacyte in a research report on Wednesday. They set an "overweight" rating and a $3.50 price objective on the stock. TD Cowen dropped their price target on shares of Humacyte from $5.00 to $3.50 and set a "buy" rating on the stock in a report on Tuesday, August 12th. HC Wainwright dropped their price target on shares of Humacyte from $4.00 to $3.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. D. Boral Capital reaffirmed a "buy" rating and set a $25.00 price target on shares of Humacyte in a report on Monday, August 11th. Finally, Wall Street Zen downgraded shares of Humacyte from a "hold" rating to a "sell" rating in a report on Sunday, August 17th.

Insider Transactions at Humacyte

In related news, Director Brady W. Dougan sold 591,685 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $1.58, for a total value of $934,862.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Laura E. Niklason sold 591,685 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $1.58, for a total transaction of $934,862.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,482,090 shares of company stock worth $7,466,382. Insiders own 5.10% of the company's stock.

Hedge Funds Weigh In On Humacyte

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Squarepoint Ops LLC bought a new stake in Humacyte during the 2nd quarter worth approximately $498,000. Thrivent Financial for Lutherans bought a new stake in Humacyte during the 2nd quarter worth approximately $496,000. BNP Paribas Financial Markets raised its stake in Humacyte by 257.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 49,039 shares of the company's stock worth $102,000 after acquiring an additional 35,325 shares during the period. Bridgeway Capital Management LLC bought a new stake in Humacyte during the 2nd quarter worth approximately $366,000. Finally, Clough Capital Partners L P bought a new stake in Humacyte during the 2nd quarter worth approximately $504,000. Hedge funds and other institutional investors own 44.71% of the company's stock.

Humacyte Price Performance

Shares of Humacyte stock traded up $0.05 during trading on Tuesday, hitting $1.58. The company's stock had a trading volume of 3,680,495 shares, compared to its average volume of 6,301,196. The company has a quick ratio of 1.93, a current ratio of 2.45 and a debt-to-equity ratio of 2.97. The company has a fifty day simple moving average of $2.16 and a two-hundred day simple moving average of $2.29. Humacyte has a 52 week low of $1.15 and a 52 week high of $6.77.

Humacyte (NASDAQ:HUMA - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.09). The company had revenue of $0.30 million for the quarter, compared to the consensus estimate of $0.94 million. On average, equities research analysts forecast that Humacyte will post -1.27 EPS for the current fiscal year.

About Humacyte

Humacyte, Inc engages in the development and manufacture of off-the-shelf, implantable, and bioengineered human tissues for the treatment of diseases and conditions across a range of anatomic locations in multiple therapeutic areas. The company using its proprietary and scientific technology platform to engineer and manufacture human acellular vessels (HAVs) to be implanted into patient without inducing a foreign body response or leading to immune rejection.