Humacyte (NASDAQ:HUMA) Now Covered by Barclays

Key Points

• Barclays has initiated coverage on Humacyte (NASDAQ:HUMA) with an "overweight" rating and a price target of $3.50, indicating a potential upside of 121.52% from its last closing price.
• Despite some analysts lowering their price targets, Humacyte currently has a consensus rating of "Buy" with an average price target of $9.75.
• Recent insider trading includes significant sales by CEO Laura E. Niklason and Director Brady W. Dougan, with over 4.4 million shares sold by insiders in the past ninety days.

Barclays assumed coverage on shares of Humacyte (NASDAQ:HUMA - Free Report) in a research note released on Wednesday, August 27th, MarketBeat Ratings reports. The firm issued an overweight rating and a $3.50 price target on the stock.

Several other equities analysts have also recently issued reports on HUMA. Wall Street Zen cut Humacyte from a "hold" rating to a "sell" rating in a research note on Sunday, August 17th. TD Cowen reduced their target price on Humacyte from $5.00 to $3.50 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. D. Boral Capital restated a "buy" rating and set a $25.00 price target on shares of Humacyte in a research report on Monday, August 11th. HC Wainwright dropped their price target on Humacyte from $4.00 to $3.00 and set a "buy" rating on the stock in a research report on Tuesday, August 12th. Finally, Benchmark dropped their price target on Humacyte from $17.00 to $14.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Humacyte presently has a consensus rating of "Buy" and a consensus target price of $9.75.

Humacyte Price Performance

NASDAQ HUMA traded down $0.07 during trading hours on Wednesday, hitting $1.45. The company had a trading volume of 1,427,167 shares, compared to its average volume of 3,989,654. Humacyte has a 52 week low of $1.15 and a 52 week high of $6.77. The firm has a 50 day simple moving average of $2.12 and a 200 day simple moving average of $2.23. The company has a debt-to-equity ratio of 2.97, a quick ratio of 1.93 and a current ratio of 2.45. The firm has a market capitalization of $228.84 million, a price-to-earnings ratio of -3.21 and a beta of 1.87.

Humacyte (NASDAQ:HUMA - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.24) earnings per share for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.09). The company had revenue of $0.30 million during the quarter, compared to the consensus estimate of $0.94 million. Equities research analysts expect that Humacyte will post -1.27 earnings per share for the current year.

Insider Buying and Selling at Humacyte

In other Humacyte news, CEO Laura E. Niklason sold 591,685 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was 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 through the SEC website. Also, Director Brady W. Dougan sold 591,685 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $1.58, for a total value of $934,862.30. 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 three months. Corporate insiders own 5.10% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Heights Capital Management Inc. purchased a new position in shares of Humacyte in the first quarter worth $6,863,000. Woodline Partners LP raised its stake in shares of Humacyte by 38.7% in the first quarter. Woodline Partners LP now owns 3,950,000 shares of the company's stock worth $6,735,000 after purchasing an additional 1,101,198 shares during the last quarter. CenterBook Partners LP raised its stake in shares of Humacyte by 141.1% in the second quarter. CenterBook Partners LP now owns 3,430,255 shares of the company's stock worth $7,169,000 after purchasing an additional 2,007,743 shares during the last quarter. RA Capital Management L.P. purchased a new position in shares of Humacyte in the first quarter worth $5,648,000. Finally, Geode Capital Management LLC raised its stake in shares of Humacyte by 33.4% in the second quarter. Geode Capital Management LLC now owns 2,948,508 shares of the company's stock worth $6,163,000 after purchasing an additional 738,142 shares during the last quarter. Hedge funds and other institutional investors own 44.71% of the company's stock.

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.