Humacyte (HUMA)
NASDAQ:HUMA
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Humacyte
(NASDAQ:HUMA)
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Rating:50Neutral
Price Target:
$0.83
▲(16.20% Upside)
Action:Reiterated
Date:05/14/26
The score is held down primarily by weak financial performance (minimal revenue, large losses, heavy cash burn, and high leverage vs. equity). This is partially offset by improving technical momentum and a cautiously positive earnings-call outlook driven by accelerating early Symvess traction, cost-reduction actions, and a significant near-term clinical catalyst (V012 interim results expected by June 11, 2026). Valuation remains constrained by negative earnings and no dividend data.
Positive Factors
Phase III V012 near-term catalyst
A prespecified interim readout in an ongoing Phase III dialysis trial is a durable clinical inflection point: positive topline could trigger a protocol stop and enable a supplemental BLA in H2 2026, materially accelerating regulatory path, commercialization planning, and partner/customer discussions over the next 2–6 months.
Negative Factors
High leverage versus equity
Debt materially outweighs equity, constraining financial flexibility. High leverage increases refinancing, covenant and liquidity risk, and limits the company's ability to invest opportunistically or weather regulatory/commercial timing slippages without dilutive or costly capital raises over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Phase III V012 near-term catalyst
A prespecified interim readout in an ongoing Phase III dialysis trial is a durable clinical inflection point: positive topline could trigger a protocol stop and enable a supplemental BLA in H2 2026, materially accelerating regulatory path, commercialization planning, and partner/customer discussions over the next 2–6 months.
Read all positive factors
Humacyte (HUMA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$226.46M
Dividend YieldN/A
Average Volume (3M)5.84M
Price to Earnings (P/E)―
Beta (1Y)2.89
Revenue Growth289.94%
EPS Growth16.60%
CountryUS
Employees218
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.59
Shares Outstanding222,019,100
10 Day Avg. Volume8,645,245
30 Day Avg. Volume5,836,498
Financial Highlights & Ratios
PEG Ratio0.05
Price to Book (P/B)48.86
Price to Sales (P/S)74.54
P/FCF Ratio-1.43
Enterprise Value/Market Cap0.86
Enterprise Value/Revenue96.11
Enterprise Value/Gross Profit-12.84
Enterprise Value/Ebitda-1.73
Forecast
1Y Price Target
$2.27Price Target Upside219.95% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)-0.43
Revenue Forecast (FY)$11.18M
Humacyte Business Overview & Revenue Model
Company Description
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 u...
How the Company Makes Money
Humacyte’s business model is primarily to generate revenue by commercializing its bioengineered tissue products (especially HAVs) through sales to hospitals and healthcare providers once regulatory approvals are obtained for specific indications. ...
Humacyte Earnings Call Summary
Earnings Call Date:May 13, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 17, 2026
Earnings Call Sentiment Positive
The call highlighted tangible commercial momentum (Symvess unit and revenue growth), strengthened commercial leadership, international regulatory progress (Israel MAA accepted), strategic government interest (DoD funding), and important near-term clinical catalysts (V012 interim results due June 11 and CTEV Phase I/II planned H2 2026). These operational and pipeline advances were balanced against financial headwinds in the quarter: a swing to a $17.6M net loss driven largely by reduced noncash other income, a large inventory reserve that inflated COGS, increased R&D spend for CTEV manufacturing, and modest absolute product revenue despite high percentage growth. The company has taken actions (restructuring, senior hires, targeted commercialization) to address uptake and cost structure and reported a cash position of $48.9M. Overall, progress on product, pipeline, and commercialization initiatives combined with cost-saving actions and an upcoming trial readout lead to a cautiously optimistic view of the company’s near-term prospects, tempered by the recent negative impact on profitability and remaining timing uncertainties around regulatory and procurement milestones.Positive Updates
Symvess Commercial Growth
Symvess sales grew to $0.5M in Q1 2026 from $0.1M in Q1 2025 (+400%), with units rising to 29 from 5 (+480%). Management reported sequential unit growth and expanding usage across ~30+ sites with evidence of colleague adoption beyond initial index surgeons.
Negative Updates
Swing to Net Loss
Net loss was $17.6M in Q1 2026 versus net income of $39.1M in Q1 2025 — a negative swing of $56.7M year-over-year.
Read all updates
Q1-2026 Updates
Positive
Negative
Symvess Commercial Growth
Symvess sales grew to $0.5M in Q1 2026 from $0.1M in Q1 2025 (+400%), with units rising to 29 from 5 (+480%). Management reported sequential unit growth and expanding usage across ~30+ sites with evidence of colleague adoption beyond initial index surgeons.
Read all positive updates
Company Guidance
Management gave limited formal revenue guidance but outlined near-term milestones and quantified operational impacts: Q1 Symvess sales were $0.5M (29 units) versus $0.1M (5 units) in Q1 2025, cash and restricted cash totaled $48.9M at March 31, 2026, and net cash used was $2.0M in Q1 (vs. +$17.9M in Q1 2025); operating results included COGS $2.0M (with $0.2M cost of units sold and a $1.6M inventory reserve), R&D $19.5M, G&A $7.9M, other net income $11.3M, and a net loss of $17.6M (vs. $39.1M net income year‑ago). They announced a ~25% workforce reduction (45 employees) with ~ $0.8M one‑time severance (mostly in Q2) and estimated net savings of ~$14.3M for the remainder of 2026; clinical and regulatory milestones include 120 patients enrolled in the V012 Phase III dialysis trial with top‑line interim results expected for presentation by June 11, 2026 and a planned supplemental BLA filing in H2 2026 (subject to results), an MAA accepted for review in Israel with a 180‑working‑day review, a $1.475M purchase commitment for Saudi clinical evaluation, and a planned first‑in‑human CTEV CABG study to commence in H2 2026 pending manufacturing completion and FDA clearance; management said it hopes to provide full 2026 guidance by year‑end.Humacyte Financial Statement Overview
Summary
Income Statement
14
Very Negative
Balance Sheet
22
Negative
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.02M | 2.04M | 0.00 | 0.00 | 1.56M | 1.26M |
| Gross Profit | -15.09M | -15.01M | -7.19M | -76.55M | -6.69M | -60.08M |
| EBITDA | -111.97M | -100.09M | -132.23M | -96.46M | -76.37M | -72.97M |
| Net Income | -97.59M | -40.83M | -148.70M | -110.78M | -11.96M | -26.48M |
Balance Sheet | ||||||
| Total Assets | 110.56M | 116.37M | 137.87M | 128.22M | 204.30M | 286.53M |
| Cash, Cash Equivalents and Short-Term Investments | 48.54M | 50.50M | 44.94M | 80.45M | 151.88M | 225.50M |
| Total Debt | 65.90M | 64.85M | 16.54M | 57.45M | 50.07M | 51.18M |
| Total Liabilities | 98.93M | 113.26M | 190.54M | 114.68M | 87.37M | 164.36M |
| Stockholders Equity | 11.62M | 3.11M | -52.67M | 13.55M | 116.93M | 122.17M |
Cash Flow | ||||||
| Free Cash Flow | -102.38M | -105.93M | -99.69M | -75.58M | -72.18M | -81.41M |
| Operating Cash Flow | -101.54M | -105.04M | -98.12M | -73.31M | -71.13M | -81.19M |
| Investing Cash Flow | -831.00K | -884.00K | -1.57M | -173.00K | 4.84M | -8.22M |
| Financing Cash Flow | 38.07M | 61.49M | 114.18M | 4.51M | -1.45M | 266.98M |
Humacyte Technical Analysis
Positive
0.71
Price Trends
0.83
Positive
0.96
Positive
1.24
Negative
Market Momentum
0.05
Negative
58.11
Neutral
44.17
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HUMA, the sentiment is Positive. The current price of 0.71 is below the 20-day moving average (MA) of 0.94, below the 50-day MA of 0.83, and below the 200-day MA of 1.24, indicating a neutral trend. The MACD of 0.05 indicates Negative momentum. The RSI at 58.11 is Neutral, neither overbought nor oversold. The STOCH value of 44.17 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HUMA.
Humacyte Risk Analysis
Humacyte disclosed 74 risk factors in its most recent earnings report. Humacyte reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Humacyte Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
53 Neutral | $541.08M | -3.28 | -81.87% | ― | ― | 2.58% | |
52 Neutral | $676.50M | -3.44 | -56.45% | ― | ― | 37.45% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $226.46M | -1.70 | -2781.56% | ― | 289.94% | 16.60% | |
48 Neutral | $196.27M | -1.05 | 194.13% | ― | ― | ― | |
46 Neutral | $244.25M | -4.18 | 85.78% | ― | 20.08% | 14.06% |
* Healthcare Sector Average
HUMA
Humacyte
1.05
-1.48
-58.50%
RNAC
Cartesian Therapeutics
6.75
-2.41
-26.31%
ALLO
Allogene Therapeutics
2.00
0.92
85.19%
FHTX
Foghorn Therapeutics
4.22
0.17
4.20%
KYTX
Kyverna Therapeutics, Inc.
8.67
6.09
236.05%
Humacyte Corporate Events
Delistings and Listing ChangesRegulatory Filings and Compliance
Humacyte Receives Nasdaq Notice on Minimum Bid Requirement
Negative
May 8, 2026
On May 4, 2026, Humacyte disclosed that it received a notice from Nasdaq staff stating the company’s shares had closed below the $1.00 minimum bid requirement for 30 consecutive business days ended May 1, 2026, putting its Nasdaq Global Sele...
Business Operations and StrategyProduct-Related Announcements
Humacyte Regains Global Rights to Symvess Vascular Graft
Positive
Apr 24, 2026
On April 21, 2026, Humacyte entered a third amendment to its distribution agreement with Fresenius Medical Care, regaining sole global rights to develop, commercialize and manage regulatory matters for its 6mm Symvess acellular tissue engineered v...
Business Operations and StrategyPrivate Placements and Financing
Humacyte Announces $20 Million Registered Direct Offering
Positive
Mar 19, 2026
On March 19, 2026, Humacyte, Inc. entered into securities purchase agreements for a registered direct offering of 25,000,000 shares of common stock at $0.80 per share, for expected net proceeds of about $18.4 million. The deal, led by a new life s...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and FinancingRegulatory Filings and Compliance
Humacyte Ends ATM Program, Highlights Symvess Global Expansion
Positive
Mar 19, 2026
On March 19, 2026, Humacyte suspended and terminated its at-the-market equity prospectus for up to $60 million in common stock sales with TD Securities, while leaving the underlying sales agreement in place and releasing a new investor presentatio...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.