Humacyte (NASDAQ:HUMA) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Humacyte (NASDAQ:HUMA) issued its earnings results on Wednesday. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.03, Zacks reports. The firm had revenue of $0.75 million during the quarter, compared to analysts’ expectations of $0.92 million.

Humacyte Stock Up 3.4%

Shares of NASDAQ HUMA traded up $0.04 during mid-day trading on Friday, hitting $1.23. 5,884,006 shares of the stock traded hands, compared to its average volume of 4,320,643. The company has a debt-to-equity ratio of 2.97, a quick ratio of 1.93 and a current ratio of 2.45. Humacyte has a 52 week low of $1.13 and a 52 week high of $6.77. The company has a market cap of $194.80 million, a price-to-earnings ratio of -5.35 and a beta of 1.88. The stock has a fifty day moving average price of $1.63 and a 200-day moving average price of $1.94.

Insider Buying and Selling at Humacyte

In other news, CEO Laura E. Niklason sold 1,100,000 shares of the business’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $1.63, for a total transaction of $1,793,000.00. Following the sale, the chief executive officer owned 591,685 shares in the company, valued at approximately $964,446.55. The trade was a 65.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Brady W. Dougan sold 1,100,000 shares of the stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $1.63, for a total transaction of $1,793,000.00. Following the completion of the transaction, the director owned 591,685 shares of the company’s stock, valued at approximately $964,446.55. The trade was a 65.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 4,482,090 shares of company stock valued at $7,466,382 in the last three months. Insiders own 5.10% of the company’s stock.

Institutional Trading of Humacyte

A number of hedge funds have recently made changes to their positions in the stock. Prudential Financial Inc. purchased a new stake in shares of Humacyte in the 2nd quarter worth approximately $28,000. The Manufacturers Life Insurance Company boosted its holdings in Humacyte by 41.2% in the second quarter. The Manufacturers Life Insurance Company now owns 45,960 shares of the company’s stock worth $96,000 after acquiring an additional 13,407 shares in the last quarter. Financial Advisors Network Inc. bought a new position in Humacyte in the 2nd quarter valued at approximately $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Humacyte by 25.5% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 76,975 shares of the company’s stock valued at $161,000 after acquiring an additional 15,649 shares in the last quarter. Finally, Cerity Partners LLC bought a new position in shares of Humacyte during the second quarter valued at $35,000. 44.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HUMA has been the topic of a number of analyst reports. BTIG Research decreased their price objective on shares of Humacyte from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Weiss Ratings restated a “sell (e+)” rating on shares of Humacyte in a report on Wednesday, October 8th. TD Cowen lowered their price target on Humacyte from $5.00 to $3.50 and set a “buy” rating for the company in a research report on Tuesday, August 12th. HC Wainwright reduced their target price on Humacyte from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Tuesday, August 12th. Finally, D. Boral Capital restated a “buy” rating and set a $25.00 target price on shares of Humacyte in a report on Monday. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Humacyte presently has an average rating of “Moderate Buy” and an average price target of $8.29.

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.