Humacyte (NASDAQ:HUMA) Upgraded to Hold at Wall Street Zen

Key Points

• Humacyte (NASDAQ:HUMA) has been upgraded from a "sell" to a "hold" rating by Wall Street Zen, reflecting a more favorable outlook for the company's stock.
• Several brokerages have rated Humacyte with a consensus of "Moderate Buy" and an average target price of $11.71, with some analysts adjusting their price targets recently.
• Humacyte reported quarterly earnings of ($0.10) per share, beating estimates and showing a slight revenue increase, suggesting potential for growth despite its PE ratio of -3.59.

Humacyte (NASDAQ:HUMA - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday.

Several other brokerages have also recently weighed in on HUMA. D. Boral Capital reissued a "buy" rating and set a $25.00 price target on shares of Humacyte in a research report on Wednesday, July 23rd. HC Wainwright started coverage on shares of Humacyte in a research report on Wednesday, May 14th. They set a "buy" rating and a $4.00 price target on the stock. Finally, Benchmark lowered their price target on shares of Humacyte from $17.00 to $14.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Humacyte has a consensus rating of "Moderate Buy" and an average target price of $11.71.

Humacyte Stock Up 0.4%

Shares of HUMA opened at $2.48 on Friday. Humacyte has a 52-week low of $1.15 and a 52-week high of $8.24. The company has a quick ratio of 3.28, a current ratio of 3.68 and a debt-to-equity ratio of 0.36. The stock has a fifty day simple moving average of $2.40 and a two-hundred day simple moving average of $2.56. The company has a market capitalization of $384.70 million, a PE ratio of -3.59 and a beta of 1.90.

Humacyte (NASDAQ:HUMA - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.09. The firm had revenue of $0.52 million for the quarter, compared to analyst estimates of $0.46 million. As a group, equities analysts forecast that Humacyte will post -1.27 EPS for the current year.

Hedge Funds Weigh In On Humacyte

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Humacyte by 10.8% during the 4th quarter. Vanguard Group Inc. now owns 5,602,684 shares of the company's stock worth $28,294,000 after purchasing an additional 543,995 shares during the period. Northern Trust Corp grew its holdings in shares of Humacyte by 11.5% during the 4th 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 boosted its holdings in Humacyte by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 2,135,133 shares of the company's stock valued at $10,785,000 after acquiring an additional 94,915 shares during the period. ProShare Advisors LLC boosted its holdings in Humacyte by 30.4% during the 4th quarter. ProShare Advisors LLC now owns 30,852 shares of the company's stock valued at $156,000 after acquiring an additional 7,188 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in Humacyte by 40.9% during the 4th quarter. Wells Fargo & Company MN now owns 50,454 shares of the company's stock valued at $255,000 after acquiring an additional 14,649 shares during the period. 44.71% of the stock is currently owned by hedge funds and other 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.

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