Josh Jennings, an analyst from TD Cowen, maintained the Buy rating on Humacyte (HUMA – Research Report). The associated price target is $5.00.
Josh Jennings has given his Buy rating for Humacyte’s stock due to a combination of factors. Firstly, the progression of Humacyte’s HAV pipeline during the third quarter has been commendable. The company’s vascular trauma indication is poised to reach a significant milestone as a BLA submission for vascular trauma is planned to be submitted by the end of the year. The potential for Humacyte’s HAV offering is promising and investor interest is expected to increase as a result.
Furthermore, Humacyte’s financial stability is another motivating factor. Despite no revenue for 3Q, the company ended the quarter with a substantial cash position of $100.0M. A recent funding agreement with Oberland Capital will provide up to $160M in capital, which will adequately fund operations beyond the potential FDA approval and commercialization in vascular trauma. Humacyte has also shown encouraging progress with its late-stage clinical programs throughout 2023, particularly with positive results from its V005 Phase 2/3 trial. Given the RMAT designation for its vascular trauma indication, there is optimism that the BLA filing will receive priority review from the agency, enabling a more efficient review process.
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Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of HUMA in relation to earlier this year.
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Humacyte (HUMA) Company Description:
Alpha Healthcare Acquisition Corp is a blank check company.
Read More on HUMA:
- Humacyte Third Quarter 2023 Financial Results and Business Update
- Humacyte Publishes Preclinical Results Showing Human Acellular Vessel™ (HAV™) Patency as Modified Blalock–Taussig–Thomas Shunt in Juvenile Primate Model
- Humacyte publishes preclinical study on HAV to treat Tetralogy of Fallot
- Humacyte to Present at the Cantor Global Healthcare Conference
- Humacyte to Host In-Person KOL Event at the New York EDITION on September 20, 2023
