BTIG Research Cuts Humacyte (NASDAQ:HUMA) Price Target to $2.00

Humacyte (NASDAQ:HUMA) had its price target cut by BTIG Research from $3.00 to $2.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also recently issued reports on HUMA. Weiss Ratings reiterated a “sell (e+)” rating on shares of Humacyte in a research note on Friday, April 10th. Wall Street Zen cut Humacyte from a “sell” rating to a “strong sell” rating in a research note on Saturday, April 11th. D. Boral Capital reiterated a “buy” rating and issued a $25.00 price objective on shares of Humacyte in a research note on Tuesday, April 28th. Finally, Benchmark reduced their price objective on Humacyte from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, January 21st. 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.com, the company currently has an average rating of “Moderate Buy” and an average price target of $7.57.

Humacyte Stock Down 7.0%

Shares of NASDAQ HUMA opened at $0.93 on Wednesday. The firm has a market cap of $206.50 million, a price-to-earnings ratio of -1.63 and a beta of 2.31. The company has a quick ratio of 2.95, a current ratio of 3.93 and a debt-to-equity ratio of 5.46. Humacyte has a 52-week low of $0.55 and a 52-week high of $2.93. The business’s 50 day moving average is $0.85 and its two-hundred day moving average is $1.06.

Humacyte (NASDAQ:HUMA) last announced its earnings results on Wednesday, May 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. The company had revenue of $0.50 million for the quarter, compared to analyst estimates of $1.46 million. Humacyte had a negative return on equity of 2,914.18% and a negative net margin of 4,836.06%. Research analysts predict that Humacyte will post -0.39 EPS for the current year.

Hedge Funds Weigh In On Humacyte

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Humacyte by 7.4% in the third quarter. Vanguard Group Inc. now owns 7,520,055 shares of the company’s stock valued at $13,085,000 after buying an additional 520,431 shares during the last quarter. Geode Capital Management LLC boosted its stake in Humacyte by 20.2% in the fourth quarter. Geode Capital Management LLC now owns 3,720,436 shares of the company’s stock valued at $3,574,000 after acquiring an additional 624,220 shares in the last quarter. UBS Group AG boosted its stake in Humacyte by 48.8% in the fourth quarter. UBS Group AG now owns 2,978,610 shares of the company’s stock valued at $2,862,000 after acquiring an additional 976,275 shares in the last quarter. State Street Corp boosted its stake in Humacyte by 17.8% in the fourth quarter. State Street Corp now owns 2,837,276 shares of the company’s stock valued at $2,725,000 after acquiring an additional 429,233 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in Humacyte by 5,308.2% in the second quarter. Marshall Wace LLP now owns 2,639,194 shares of the company’s stock valued at $5,516,000 after acquiring an additional 2,590,394 shares in the last quarter. Hedge funds and other institutional investors own 44.71% of the company’s stock.

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.