Humacyte’s (HUMA) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Humacyte (NASDAQ:HUMA) in a report issued on Wednesday,Benzinga reports. The firm currently has a $12.00 target price on the stock. HC Wainwright also issued estimates for Humacyte’s FY2024 earnings at ($1.36) EPS and FY2025 earnings at ($0.77) EPS.

HUMA has been the subject of a number of other research reports. EF Hutton Acquisition Co. I upgraded shares of Humacyte to a “strong-buy” rating in a research note on Monday, September 9th. Piper Sandler set a $6.00 target price on shares of Humacyte and gave the stock a “neutral” rating in a research note on Friday, October 18th. Cantor Fitzgerald restated an “overweight” rating and issued a $13.00 target price on shares of Humacyte in a research note on Friday, September 20th. Benchmark restated a “buy” rating and issued a $15.00 target price on shares of Humacyte in a research note on Thursday, October 10th. Finally, TD Cowen restated a “buy” rating and issued a $10.00 target price on shares of Humacyte in a research note on Friday, October 18th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Humacyte presently has an average rating of “Buy” and an average target price of $11.00.

Humacyte Price Performance

Shares of NASDAQ:HUMA opened at $4.84 on Wednesday. The stock has a market cap of $577.06 million, a P/E ratio of -3.61 and a beta of 1.47. The firm has a fifty day moving average price of $5.42 and a 200 day moving average price of $6.17. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.10 and a quick ratio of 5.41. Humacyte has a 1-year low of $2.35 and a 1-year high of $9.97.

Humacyte (NASDAQ:HUMA) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). Sell-side analysts predict that Humacyte will post -1.22 EPS for the current year.

Insider Activity at Humacyte

In other Humacyte news, Director Brady W. Dougan sold 252,676 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $6.71, for a total transaction of $1,695,455.96. Following the completion of the transaction, the director now directly owns 4,306,464 shares in the company, valued at approximately $28,896,373.44. This trade represents a 5.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kathleen Sebelius sold 5,182 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $5.40, for a total transaction of $27,982.80. Following the transaction, the director now owns 40,276 shares of the company’s stock, valued at $217,490.40. This trade represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,084,153 shares of company stock worth $6,869,996 over the last 90 days. Company insiders own 11.20% of the company’s stock.

Hedge Funds Weigh In On Humacyte

Several hedge funds have recently added to or reduced their stakes in HUMA. State Street Corp increased its holdings in Humacyte by 66.1% during the 3rd quarter. State Street Corp now owns 4,764,155 shares of the company’s stock valued at $25,917,000 after acquiring an additional 1,895,529 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Humacyte by 504.3% during the second quarter. Millennium Management LLC now owns 1,599,307 shares of the company’s stock worth $7,677,000 after buying an additional 1,334,641 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Humacyte by 28.7% during the first quarter. Vanguard Group Inc. now owns 4,019,681 shares of the company’s stock worth $12,501,000 after buying an additional 896,415 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Humacyte by 693.0% during the second quarter. Renaissance Technologies LLC now owns 600,300 shares of the company’s stock worth $2,881,000 after buying an additional 524,600 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Humacyte by 3,301.5% during the second quarter. Marshall Wace LLP now owns 463,662 shares of the company’s stock worth $2,226,000 after buying an additional 450,031 shares in the last quarter. 44.71% of the stock is currently owned by hedge funds and other institutional investors.

About Humacyte

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.