HC Wainwright Reiterates Buy Rating for Humacyte (NASDAQ:HUMA)

Humacyte (NASDAQ:HUMA)‘s stock had its “buy” rating restated by HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $3.00 price objective on the stock. HC Wainwright’s target price would indicate a potential upside of 176.50% from the stock’s current price.

HUMA has been the topic of a number of other reports. Wall Street Zen upgraded Humacyte from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Humacyte in a research note on Friday, April 10th. 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, BTIG Research dropped their price objective on Humacyte from $3.00 to $2.00 and set a “buy” rating on the stock in a research note on Wednesday, May 13th. Seven analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $7.57.

Humacyte Stock Performance

Shares of Humacyte stock traded up $0.04 during trading on Tuesday, reaching $1.09. The company’s stock had a trading volume of 4,349,914 shares, compared to its average volume of 6,454,731. The company has a debt-to-equity ratio of 5.46, a quick ratio of 3.32 and a current ratio of 3.93. The business’s fifty day moving average price is $0.83 and its 200-day moving average price is $1.03. The firm has a market cap of $240.89 million, a price-to-earnings ratio of -1.90 and a beta of 2.31. Humacyte has a one year low of $0.55 and a one year high of $2.93.

Humacyte (NASDAQ:HUMA) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. The business 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%. As a group, equities research analysts predict that Humacyte will post -0.32 earnings per share for the current year.

Insider Activity at Humacyte

In related news, insider Shamik J. Parikh sold 45,887 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $0.90, for a total transaction of $41,298.30. Following the transaction, the insider directly owned 272,713 shares in the company, valued at $245,441.70. The trade was a 14.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kathleen Sebelius purchased 56,818 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were purchased at an average price of $0.88 per share, for a total transaction of $49,999.84. Following the completion of the purchase, the director directly owned 148,025 shares of the company’s stock, valued at approximately $130,262. This trade represents a 62.30% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On Humacyte

Several large investors have recently modified their holdings of HUMA. Geode Capital Management LLC grew its stake in shares of Humacyte by 33.4% in the 2nd quarter. Geode Capital Management LLC now owns 2,948,508 shares of the company’s stock valued at $6,163,000 after purchasing an additional 738,142 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Humacyte by 31.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 70,067 shares of the company’s stock valued at $146,000 after purchasing an additional 16,702 shares during the period. Rhumbline Advisers grew its stake in shares of Humacyte by 51.1% in the 2nd quarter. Rhumbline Advisers now owns 177,623 shares of the company’s stock valued at $371,000 after purchasing an additional 60,059 shares during the period. Prudential Financial Inc. bought a new stake in shares of Humacyte in the 2nd quarter valued at approximately $28,000. Finally, Marshall Wace LLP grew its stake in shares of Humacyte by 5,308.2% in the 2nd quarter. Marshall Wace LLP now owns 2,639,194 shares of the company’s stock valued at $5,516,000 after purchasing an additional 2,590,394 shares during the period. 44.71% of the stock is currently owned by institutional investors.

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.