Humacyte (NASDAQ:HUMA) Issues Quarterly Earnings Results, Misses Estimates By $0.09 EPS

Key Points

• Humacyte reported earnings of ($0.24) per share, which missed analysts' estimates of ($0.15) by ($0.09).
• The company's stock has a market cap of $384.70 million and a PE ratio of -3.59, with shares trading at $2.48.
• Several analysts have given Humacyte a moderate buy rating, with an average price target of $11.71, indicating potential for growth despite recent earnings misses.

Humacyte (NASDAQ:HUMA - Get Free Report) announced its quarterly earnings data on Monday. The company reported ($0.24) EPS for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.09), Zacks reports. The business had revenue of $0.30 million during the quarter, compared to analysts' expectations of $0.94 million.

Humacyte Stock Performance

Shares of HUMA traded up $0.10 during mid-day trading on Thursday, hitting $1.88. The stock had a trading volume of 6,542,676 shares, compared to its average volume of 3,995,355. The firm has a market cap of $291.62 million, a P/E ratio of -4.18 and a beta of 1.90. The business has a fifty day moving average price of $2.34 and a 200-day moving average price of $2.50. The company has a debt-to-equity ratio of 2.97, a current ratio of 2.45 and a quick ratio of 3.28. Humacyte has a 52 week low of $1.15 and a 52 week high of $7.48.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Benchmark cut their target price on Humacyte from $17.00 to $14.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Wall Street Zen raised Humacyte from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. D. Boral Capital reaffirmed a "buy" rating and set a $25.00 target price on shares of Humacyte in a research report on Monday. TD Cowen cut their target price on Humacyte from $5.00 to $3.50 and set a "buy" rating on the stock in a research report on Tuesday. Finally, HC Wainwright cut their target price on Humacyte from $4.00 to $3.00 and set a "buy" rating on the stock in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Humacyte currently has a consensus rating of "Moderate Buy" and a consensus price target of $10.64.

Institutional Trading of Humacyte

Hedge funds have recently made changes to their positions in the company. Prudential Financial Inc. bought a new stake in shares of Humacyte during the 2nd quarter valued at $28,000. The Manufacturers Life Insurance Company grew its position in Humacyte by 41.2% during the second quarter. The Manufacturers Life Insurance Company now owns 45,960 shares of the company's stock worth $96,000 after buying an additional 13,407 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Humacyte by 25.5% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 76,975 shares of the company's stock worth $161,000 after buying an additional 15,649 shares in the last quarter. Cerity Partners LLC purchased a new position in Humacyte during the second quarter worth about $35,000. Finally, JPMorgan Chase & Co. grew its position in Humacyte by 31.3% during the second quarter. JPMorgan Chase & Co. now owns 70,067 shares of the company's stock worth $146,000 after buying an additional 16,702 shares in the last quarter. 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.