TD Cowen Cuts Humacyte (NASDAQ:HUMA) Price Target to $3.50

Key Points

• TD Cowen has reduced Humacyte's price target from $5.00 to $3.50, while maintaining a "buy" rating, indicating a potential upside of 84.70%.
• Humacyte reported disappointing earnings, with a loss of ($0.24) per share, missing analysts' expectations and generating revenue of $0.30 million against an estimate of $0.94 million.
• The stock has a consensus rating of "Moderate Buy" and a consensus price target of $10.64 from various analysts, despite recent downward adjustments from several brokerages.

Humacyte (NASDAQ:HUMA - Get Free Report) had its price target lowered by investment analysts at TD Cowen from $5.00 to $3.50 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. TD Cowen's price objective suggests a potential upside of 84.70% from the stock's previous close.

A number of other equities analysts also recently weighed in on the stock. Wall Street Zen raised shares of Humacyte from a "sell" rating to a "hold" rating in a research note on Saturday. D. Boral Capital reaffirmed a "buy" rating and set a $25.00 target price on shares of Humacyte in a research note on Monday. Benchmark decreased their target price on shares of Humacyte from $17.00 to $14.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. Finally, HC Wainwright decreased their target price on shares of Humacyte from $4.00 to $3.00 and set a "buy" rating for the company in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $10.64.

Humacyte Trading Up 8.3%

HUMA stock traded up $0.15 during trading on Tuesday, reaching $1.90. The company had a trading volume of 3,565,303 shares, compared to its average volume of 3,940,897. Humacyte has a 52 week low of $1.15 and a 52 week high of $7.48. The company has a market cap of $293.95 million, a P/E ratio of -2.76 and a beta of 1.90. The business has a 50 day moving average of $2.38 and a 200 day moving average of $2.51. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.68 and a quick ratio of 3.28.

Humacyte (NASDAQ:HUMA - Get Free Report) last announced its earnings results 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 business had revenue of $0.30 million for the quarter, compared to analyst estimates of $0.94 million. As a group, sell-side analysts forecast that Humacyte will post -1.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Humacyte

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Heights Capital Management Inc. purchased a new stake in Humacyte in the first quarter worth approximately $6,863,000. RA Capital Management L.P. purchased a new stake in Humacyte in the first quarter worth approximately $5,648,000. Woodline Partners LP boosted its holdings in Humacyte by 235.7% in the fourth quarter. Woodline Partners LP now owns 2,848,802 shares of the company's stock worth $14,386,000 after purchasing an additional 2,000,268 shares during the last quarter. Monashee Investment Management LLC purchased a new stake in Humacyte in the first quarter worth approximately $3,410,000. Finally, Maven Securities LTD purchased a new stake in Humacyte in the first quarter worth approximately $1,790,000. 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.

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