Humacyte (NASDAQ:HUMA) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Humacyte (NASDAQ:HUMA) from a hold rating to a sell rating in a report published on Wednesday, Zacks.com reports.

According to Zacks, “Humacyte Inc. is a clinical-stage biotechnology platform company developing universally implantable bioengineered human tissue at commercial scale. Humacyte Inc., formerly known as Alpha Healthcare Acquisition Corp., is based in DURHAM, N.C. “

A number of other brokerages have also weighed in on HUMA. Cowen initiated coverage on shares of Humacyte in a report on Friday, October 29th. They issued an outperform rating and a $17.00 price target for the company. BTIG Research initiated coverage on shares of Humacyte in a research note on Wednesday, September 22nd. They issued a buy rating and a $19.00 price objective on the stock. Piper Sandler initiated coverage on shares of Humacyte in a research note on Thursday, September 16th. They issued an overweight rating and a $17.00 price objective on the stock. Finally, Oppenheimer initiated coverage on shares of Humacyte in a research note on Thursday, September 23rd. They issued an outperform rating and a $16.00 price objective on the stock. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average price target of $17.25.

Shares of Humacyte stock opened at $5.83 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 11.49 and a quick ratio of 11.49. The firm has a 50 day moving average of $9.12. Humacyte has a fifty-two week low of $5.57 and a fifty-two week high of $17.45.

Humacyte (NASDAQ:HUMA) last issued its quarterly earnings results on Friday, November 12th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.30). The company had revenue of $0.24 million for the quarter, compared to analyst estimates of $0.27 million. Equities analysts predict that Humacyte will post -1.5 earnings per share for the current fiscal year.

In other news, CEO Laura E. Niklason sold 125,000 shares of Humacyte stock in a transaction on Wednesday, December 15th. The shares were sold at an average price of $8.88, for a total transaction of $1,110,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael T. Constantino purchased 2,500 shares of Humacyte stock in a transaction dated Monday, November 22nd. The shares were purchased at an average cost of $10.79 per share, for a total transaction of $26,975.00. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 300,000 shares of company stock worth $2,729,000.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Citigroup Inc. acquired a new stake in shares of Humacyte during the third quarter worth $47,000. United Asset Strategies Inc. acquired a new stake in shares of Humacyte during the third quarter worth $120,000. Kovitz Investment Group Partners LLC acquired a new stake in shares of Humacyte during the third quarter worth $128,000. Advisor Group Holdings Inc. acquired a new stake in shares of Humacyte during the third quarter worth $211,000. Finally, Exos Asset Management LLC acquired a new stake in shares of Humacyte during the third quarter worth $220,000. 15.67% of the stock is currently owned by institutional investors.

Humacyte Company Profile

Alpha Healthcare Acquisition Corp. is a blank check company. It formed for the purpose of merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Alpha Healthcare Acquisition Corp. is based in New York.

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