TD Cowen Reiterates Buy Rating for Humacyte (NASDAQ:HUMA)

Humacyte (NASDAQ:HUMA)‘s stock had its “buy” rating reissued by investment analysts at TD Cowen in a report released on Friday, Benzinga reports. They presently have a $10.00 price objective on the stock. TD Cowen’s price target would suggest a potential upside of 91.57% from the stock’s current price.

Other equities analysts have also issued research reports about the company. 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. BTIG Research restated a “buy” rating and set a $10.00 price objective on shares of Humacyte in a research note on Friday. Benchmark reiterated a “buy” rating and issued a $15.00 price objective on shares of Humacyte in a research note on Thursday, October 10th. Finally, EF Hutton Acquisition Co. I upgraded shares of Humacyte to a “strong-buy” rating in a research report on Monday, September 9th. One equities research 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 company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $9.67.

Humacyte Stock Up 7.4 %

Shares of NASDAQ HUMA traded up $0.36 during midday trading on Friday, reaching $5.22. 3,236,026 shares of the company’s stock traded hands, compared to its average volume of 2,306,454. The company has a market cap of $621.62 million, a price-to-earnings ratio of -5.24 and a beta of 1.45. Humacyte has a one year low of $1.96 and a one year high of $9.97. The company has a quick ratio of 5.41, a current ratio of 5.41 and a debt-to-equity ratio of 0.61. The stock’s 50 day simple moving average is $5.83 and its 200-day simple moving average is $5.88.

Humacyte (NASDAQ:HUMA) last posted its earnings results on Tuesday, August 13th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.04). On average, analysts predict that Humacyte will post -1.09 EPS for the current fiscal year.

Insider Buying and Selling

In other Humacyte news, Director Brady W. Dougan sold 352,112 shares of Humacyte stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $6.35, for a total value of $2,235,911.20. Following the completion of the transaction, the director now owns 3,677,262 shares of the company’s stock, valued at approximately $23,350,613.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Brady W. Dougan sold 352,112 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $6.35, for a total transaction of $2,235,911.20. Following the sale, the director now directly owns 3,677,262 shares in the company, valued at $23,350,613.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathleen Sebelius sold 5,182 shares of Humacyte stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $5.40, for a total value of $27,982.80. Following the completion of the transaction, the director now owns 40,276 shares of the company’s stock, valued at approximately $217,490.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,084,153 shares of company stock valued at $6,869,996. Corporate insiders own 23.10% of the company’s stock.

Hedge Funds Weigh In On Humacyte

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Endowment Wealth Management Inc. increased its stake in shares of Humacyte by 3.1% during the second quarter. Endowment Wealth Management Inc. now owns 100,518 shares of the company’s stock worth $482,000 after purchasing an additional 3,000 shares in the last quarter. nVerses Capital LLC acquired a new stake in Humacyte in the 2nd quarter worth about $28,000. The Manufacturers Life Insurance Company increased its stake in Humacyte by 32.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 34,919 shares of the company’s stock worth $168,000 after buying an additional 8,557 shares in the last quarter. Principal Financial Group Inc. acquired a new position in shares of Humacyte during the second quarter valued at approximately $83,000. Finally, Profund Advisors LLC purchased a new position in shares of Humacyte in the second quarter valued at approximately $97,000. 44.71% of the stock is 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.