Humacyte (NASDAQ:HUMA) Downgraded to "Sell" Rating by Wall Street Zen

Key Points

• Humacyte has been downgraded by Wall Street Zen from a "hold" rating to a "sell" rating, reflecting growing concerns regarding its stock performance.
• Several analysts have recently adjusted their price targets for Humacyte; for instance, HC Wainwright slashed their target from $4.00 to $3.00, while Benchmark lowered theirs from $17.00 to $14.00.
• The company's latest quarterly earnings showed a larger loss than expected, with a reported EPS of ($0.24), missing the consensus estimate of ($0.15).

Wall Street Zen lowered shares of Humacyte (NASDAQ:HUMA - Free Report) from a hold rating to a sell rating in a research report sent to investors on Sunday morning.

Several other brokerages have also issued reports on HUMA. HC Wainwright cut their price objective on Humacyte from $4.00 to $3.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. D. Boral Capital reiterated a "buy" rating and set a $25.00 price objective on shares of Humacyte in a report on Monday, August 11th. Benchmark cut their price objective on Humacyte from $17.00 to $14.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. Finally, TD Cowen cut their target price on Humacyte from $5.00 to $3.50 and set a "buy" rating on the stock in a report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $10.64.

Humacyte Stock Down 5.5%

Shares of HUMA traded down $0.09 during mid-day trading on Friday, reaching $1.54. The company's stock had a trading volume of 4,904,132 shares, compared to its average volume of 6,243,794. The business has a fifty day moving average of $2.24 and a 200 day moving average of $2.38. The company has a market cap of $238.88 million, a price-to-earnings ratio of -3.42 and a beta of 1.90. Humacyte has a 1 year low of $1.15 and a 1 year high of $7.48. The company has a quick ratio of 1.93, a current ratio of 2.45 and a debt-to-equity ratio of 2.97.

Humacyte (NASDAQ:HUMA - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $0.94 million. As a group, analysts forecast that Humacyte will post -1.27 earnings per share for the current fiscal year.

Insider Transactions at Humacyte

In other news, CEO Laura E. Niklason sold 1,100,000 shares of Humacyte stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $1.63, for a total value of $1,793,000.00. Following the transaction, the chief executive officer directly owned 591,685 shares in the company, valued at approximately $964,446.55. The trade was a 65.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Brady W. Dougan sold 1,100,000 shares of Humacyte stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $1.63, for a total value of $1,793,000.00. Following the completion of the transaction, the director owned 591,685 shares in the company, valued at $964,446.55. The trade was a 65.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,482,090 shares of company stock worth $7,466,382 over the last quarter. 5.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Humacyte

Institutional investors have recently made changes to their positions in the business. Northern Trust Corp increased its stake in shares of Humacyte by 11.5% in the fourth quarter. Northern Trust Corp now owns 901,194 shares of the company's stock worth $4,551,000 after purchasing an additional 92,708 shares during the period. Geode Capital Management LLC grew its position in Humacyte by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 2,135,133 shares of the company's stock worth $10,785,000 after buying an additional 94,915 shares in the last quarter. ProShare Advisors LLC grew its position in Humacyte by 30.4% during the fourth quarter. ProShare Advisors LLC now owns 30,852 shares of the company's stock worth $156,000 after buying an additional 7,188 shares in the last quarter. Wells Fargo & Company MN grew its position in Humacyte by 40.9% during the fourth quarter. Wells Fargo & Company MN now owns 50,454 shares of the company's stock worth $255,000 after buying an additional 14,649 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Humacyte during the fourth quarter worth about $377,000. 44.71% of the stock is currently owned by institutional investors.

Humacyte Company Profile

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.