Humacyte's (HUMA) "Buy" Rating Reaffirmed at BTIG Research

Key Points

• BTIG Research reaffirmed a “buy” rating on Humacyte and kept a $2.00 price target, implying about 48% upside from the prior close.
• Analyst sentiment is mixed overall, but still leans positive: seven analysts rate HUMA a Buy, one rates it a Sell, and the consensus target is $6.43.
• Humacyte reported a smaller-than-expected quarterly loss of $0.09 per share, though revenue came in below estimates at $0.50 million.

Humacyte (NASDAQ:HUMA - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at BTIG Research in a report issued on Monday,Benzinga reports. They presently have a $2.00 price objective on the stock. BTIG Research's target price suggests a potential upside of 48.15% from the company's previous close.

Several other equities analysts also recently weighed in on HUMA. Wall Street Zen raised Humacyte from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 16th. Benchmark boosted their price objective on Humacyte to $2.00 and gave the company a "speculative buy" rating in a report on Monday, June 1st. Weiss Ratings restated a "sell (e+)" rating on shares of Humacyte in a report on Friday, April 10th. D. Boral Capital restated a "buy" rating and set a $25.00 price objective on shares of Humacyte in a report on Tuesday, April 28th. Finally, HC Wainwright restated a "buy" rating and set a $3.00 price objective on shares of Humacyte in a report on Tuesday, May 26th. Seven analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $6.43.

Humacyte Price Performance

Shares of HUMA opened at $1.35 on Monday. The business's 50 day moving average is $0.89 and its 200 day moving average is $1.03. The company has a market capitalization of $299.73 million, a PE ratio of -2.37 and a beta of 2.45. Humacyte has a 12-month low of $0.55 and a 12-month high of $2.93. The company has a current ratio of 3.93, a quick ratio of 3.32 and a debt-to-equity ratio of 5.46.

Humacyte (NASDAQ:HUMA - Get Free Report) last issued its earnings results on Wednesday, May 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.01. Humacyte had a negative return on equity of 2,914.18% and a negative net margin of 4,836.06%.The company had revenue of $0.50 million for the quarter, compared to the consensus estimate of $1.46 million. Research analysts expect that Humacyte will post -0.32 earnings per share for the current fiscal year.

Insider Activity at Humacyte

In related news, Director Kathleen Sebelius purchased 56,818 shares of Humacyte stock in a transaction dated Tuesday, May 19th. The stock was purchased at an average cost of $0.88 per share, with a total value of $49,999.84. Following the transaction, the director owned 148,025 shares in the company, valued at approximately $130,262. The trade was a 62.30% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Dale A. Sander sold 45,887 shares of the business's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $0.90, for a total value of $41,298.30. Following the completion of the transaction, the chief financial officer directly owned 267,213 shares of the company's stock, valued at approximately $240,491.70. The trade was a 14.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 3.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HUMA. SG Americas Securities LLC increased its holdings in shares of Humacyte by 50.3% in the fourth quarter. SG Americas Securities LLC now owns 34,075 shares of the company's stock valued at $33,000 after purchasing an additional 11,411 shares during the period. Prudential Financial Inc. acquired a new position in shares of Humacyte in the second quarter valued at about $28,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Humacyte by 21.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 76,017 shares of the company's stock worth $73,000 after buying an additional 13,175 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Humacyte by 41.2% in 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 during the last quarter. Finally, Financial Advisors Network Inc. purchased a new stake in shares of Humacyte in the second quarter worth about $28,000. 44.71% of the stock is owned by institutional investors and hedge funds.

About Humacyte

Humacyte, Inc is a clinical-stage biotechnology company focused on the development and manufacturing of off-the-shelf, regenerative human acellular vessels (HAVs) designed to address critical vascular access needs. The company's proprietary vessels are engineered from human donor cells and then decellularized to create a biocompatible scaffold capable of integrating with a patient's own tissue. Humacyte's primary business activities encompass process development, large-scale manufacturing, and clinical evaluation of HAVs for use in end-stage renal disease, peripheral arterial disease and other vascular repair applications.

The company's lead product candidate, the HAV, has advanced through multiple clinical trials for arteriovenous access in hemodialysis patients, demonstrating durability, reduced infection rates and compatibility with repeated cannulation.

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