Humacyte (NASDAQ:HUMA) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Humacyte (NASDAQ:HUMA) posted its earnings results on Friday. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.01, Yahoo Finance reports. During the same period in the previous year, the company earned ($0.21) earnings per share.

Humacyte Stock Performance

NASDAQ HUMA opened at $3.31 on Friday. The company has a current ratio of 6.79, a quick ratio of 6.79 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average is $3.50 and its two-hundred day moving average is $3.00. Humacyte has a 12-month low of $1.96 and a 12-month high of $5.60.

Hedge Funds Weigh In On Humacyte

Several institutional investors and hedge funds have recently added to or reduced their stakes in HUMA. Advisor Group Holdings Inc. increased its position in Humacyte by 24.6% during the 1st quarter. Advisor Group Holdings Inc. now owns 25,020 shares of the company’s stock worth $177,000 after purchasing an additional 4,946 shares during the period. Swiss National Bank increased its position in Humacyte by 7.4% during the 1st quarter. Swiss National Bank now owns 121,800 shares of the company’s stock worth $860,000 after purchasing an additional 8,400 shares during the period. Bank of New York Mellon Corp acquired a new position in Humacyte during the 1st quarter worth approximately $188,000. Citigroup Inc. increased its position in Humacyte by 191.7% during the 1st quarter. Citigroup Inc. now owns 11,859 shares of the company’s stock worth $84,000 after purchasing an additional 7,793 shares during the period. Finally, BlackRock Inc. increased its position in Humacyte by 12.6% during the 1st quarter. BlackRock Inc. now owns 1,577,919 shares of the company’s stock worth $11,140,000 after purchasing an additional 176,846 shares during the period. Institutional investors and hedge funds own 27.36% of the company’s stock.

Analyst Upgrades and Downgrades

HUMA has been the topic of several recent research reports. Benchmark dropped their price target on Humacyte from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, December 27th. HC Wainwright initiated coverage on Humacyte in a research report on Monday, December 11th. They issued a “buy” rating and a $6.00 price target on the stock.

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).