Benchmark downgraded Humacyte (HUMA) to Speculative Buy from Buy with a price target of $1, down from $10, after updating the firm’s model for Q4 results. The firm’s change in rating to a Speculative Buy “is not a downgrade per se, but better reflects the higher risk profile associated with the shares,” the analyst tells investors. The rate of uptake in 2025 was “not what we hoped for,” adds the analyst, who is lowering the firm’s 2026 revenue estimate to $13.8M from $21.8M.
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