Humacyte (HUMA) AI Stock Analysis

• Market Cap: $252.82M
• Dividend Yield: N/A
• Average Volume (3M): 4.57M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.59
• Revenue Growth: N/A
• EPS Growth: 82.23%
• Country: US
• Employees: 218
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.11
• Shares Outstanding: 187,271,320
• 10 Day Avg. Volume: 4,294,816
• 30 Day Avg. Volume: 4,571,121
• PEG Ratio: -0.23
• Price to Book (P/B): -11.36
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -6.00
• Enterprise Value/Market Cap: 1.21
• Enterprise Value/Revenue: 34.82
• Enterprise Value/Gross Profit: 350.98
• Enterprise Value/Ebitda: -16.18
• 1Y Price Target: $5.88
• Price Target Upside: 335.56% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): -0.34
• Revenue Forecast (FY): $2.67M

• Rating: 42 Neutral
• Price Target: ―

Humacyte's overall stock score reflects significant financial and technical challenges. The lack of revenue, persistent losses, and negative equity weigh heavily on the financial performance. Technical analysis indicates bearish momentum. The valuation metrics suggest the stock may be overpriced given the negative P/E ratio and absence of dividends. The earnings call offered some optimism regarding future growth due to FDA approvals and product launches, but these are long-term prospects amid current financial difficulties. Recent corporate events provide mixed signals with potential legal risks and a successful capital raise.

Positive Factors

FDA Approval and Product Launch

The FDA approval and successful launch of Symvess mark a significant milestone, enhancing Humacyte's market position and potential revenue streams in vascular surgery.

Patent Protection

The new patent provides long-term protection for Humacyte's proprietary technology, securing competitive advantages and supporting sustained innovation and market leadership.

Capital Raise

The capital raise strengthens Humacyte's financial position, enabling continued product development and commercialization efforts, crucial for long-term growth and stability.

Negative Factors

Financial Instability

Negative equity and high liabilities reflect financial instability, posing risks to Humacyte's long-term sustainability and limiting its ability to invest in growth opportunities.

No Revenue Generation

The lack of revenue generation highlights ongoing challenges in monetizing products, impacting profitability and cash flow, and necessitating reliance on external financing.

Increased Net Loss

Rising net losses, driven by increased expenses, exacerbate financial pressures, hindering Humacyte's ability to achieve profitability and necessitating cost management strategies.

Humacyte Business Overview & Revenue Model

Company Description

Humacyte, Inc. (HUMA) is a biotechnology company focused on developing bioengineered human tissues and organs for use in regenerative medicine and vascular surgery. The company's core product revolves around its proprietary platform technology to create universally implantable, bioengineered human tissues that have the potential to improve treatment outcomes for patients with vascular and organ diseases. Humacyte operates primarily within the healthcare and biotechnology sectors, leveraging its innovative technology to address significant unmet medical needs.

How the Company Makes Money

Humacyte makes money primarily through the development and commercialization of its bioengineered human tissues, particularly its Human Acellular Vessel (HAV), which is designed for vascular surgeries. The company generates revenue through partnerships and collaborations with healthcare providers and research institutions that utilize its products in clinical trials and therapeutic applications. Additionally, Humacyte may earn income from licensing agreements, grants, and other funding sources that support the advancement of its technology and product pipeline. The successful commercialization and adoption of its bioengineered tissues in the healthcare market are key factors contributing to its earnings.

Humacyte Financial Statement Overview

Summary

Humacyte faces significant financial challenges with no current revenue stream and persistent operating losses, reflecting weak profitability metrics. The balance sheet indicates financial instability, with negative equity and high liabilities. Cash flows are negative, and the company is reliant on external financing for liquidity. These factors suggest a risky financial position with potential sustainability concerns unless revenue generation and profitability improve.

Income Statement

Humacyte's income statement shows significant challenges with no revenue reported in the latest year, leading to an inability to calculate profit margins. Historical revenue has been minimal and inconsistent, with no clear growth trajectory. The company has consistently reported operating losses, with EBIT and EBITDA margins being negative. This reflects ongoing difficulties in achieving profitability and scalability in its operations.

Balance Sheet

The balance sheet shows a negative stockholders' equity of $52.7 million, indicating financial instability. Total liabilities exceed total assets, which is concerning for leverage and solvency. With a debt-to-equity ratio being inapplicable due to negative equity, the company faces significant risk. However, the company has managed to reduce net debt, primarily through financing activities, which provides some liquidity buffer.

Cash Flow

Cash flow analysis reveals negative free cash flow, indicating the company is not generating sufficient cash from its operations to cover capital expenditures. However, the operating cash flow to net income ratio is not calculable due to zero or negative net income, highlighting cash flow issues. The company has relied heavily on financing activities to support its cash position, which may not be sustainable long-term.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	8.80M	0.00	0.00	1.56M	1.26M	1.49M
Gross Profit	873.00K	-7.19M	-76.55M	-6.69M	-60.08M	-52.59M
EBITDA	-18.94M	-132.23M	-96.46M	-76.37M	-72.97M	-56.25M
Net Income	-36.97M	-148.70M	-110.78M	-11.96M	-26.48M	-66.52M
Balance Sheet
Total Assets	91.51M	137.87M	128.22M	204.30M	286.53M	106.69M
Cash, Cash Equivalents and Short-Term Investments	19.49M	44.94M	80.45M	151.88M	225.50M	39.93M
Total Debt	29.82M	16.54M	57.45M	50.07M	51.18M	28.86M
Total Liabilities	96.26M	190.54M	114.68M	87.37M	164.36M	36.02M
Stockholders Equity	-4.75M	-52.67M	13.55M	116.93M	122.17M	70.67M
Cash Flow
Free Cash Flow	-106.40M	-99.69M	-75.58M	-72.18M	-81.41M	-55.89M
Operating Cash Flow	-105.50M	-98.12M	-73.31M	-71.13M	-81.19M	-55.57M
Investing Cash Flow	-908.00K	-1.57M	-173.00K	4.84M	-8.22M	-268.00K
Financing Cash Flow	55.32M	114.18M	4.51M	-1.45M	266.98M	2.05M

Humacyte Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.35
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HUMA, the sentiment is Negative. The current price of 1.35 is above the 20-day moving average (MA) of 1.29, below the 50-day MA of 1.56, and below the 200-day MA of 2.03, indicating a bearish trend. The MACD of -0.08 indicates Negative momentum. The RSI at 43.86 is Neutral, neither overbought nor oversold. The STOCH value of 82.49 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HUMA.

Humacyte Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
ALLO	51 Neutral	$328.11M	―	-54.43%	―	-100.00%	37.10%
FHTX	49 Neutral	$199.55M	-2.85	―	―	-3.91%	37.89%
IMAB	45 Neutral	―	―	―	―	-100.00%	72.45%
HUMA	42 Neutral	$252.82M	―	―	―	―	82.23%
RNAC	41 Neutral	$189.83M	―	―	―	―	―
KYTX	36 Underperform	$275.04M	-1.73	-70.82%	―	―	-21.22%

Humacyte Corporate Events

Humacyte Challenges FDA Petition Amidst Controversy

On April 17, 2025, Humacyte, Inc. addressed a ‘citizen petition’ filed with the FDA by individuals who have not used its products, aiming to halt the company’s operations. Dr. Laura Niklason, CEO of Humacyte, criticized the petitioners, highlighting potential conflicts of interest, particularly with Robert E. Lee, a former FDA employee now consulting for a competitor. Humacyte remains committed to challenging these claims and defending its reputation.

Spark’s Take on HUMA Stock

According to Spark, TipRanks’ AI Analyst, HUMA is a Underperform.

Humacyte’s overall stock score reflects significant financial and technical challenges. The lack of revenue, persistent losses, and negative equity weigh heavily on the financial performance. Technical analysis indicates bearish momentum. The valuation metrics suggest the stock may be overpriced given the negative P/E ratio and absence of dividends. The earnings call offered some optimism regarding future growth due to FDA approvals and product launches, but these are long-term prospects amid current financial difficulties.

To see Spark’s full report on HUMA stock, click here.

Humacyte Defends Symvess Approval Amid FDA Scrutiny

On March 27, 2025, Humacyte, Inc. responded to a New York Times article questioning the FDA’s approval process for their product, Symvess. The company clarified that the FDA conducted a thorough review, including consultations with external experts, before approving Symvess for treating vascular trauma. Humacyte emphasized their commitment to safety and effectiveness, citing successful outcomes in trials and ongoing post-approval studies. The company also addressed inaccuracies in the article, defending the product’s use in battlefield injuries and highlighting their humanitarian efforts in Ukraine.

Humacyte Announces Public Offering to Raise $46.6 Million

On March 25, 2025, Humacyte, Inc. announced an underwritten public offering of 25,000,000 shares of its common stock at $2.00 per share, with an option for underwriters to purchase an additional 3,750,000 shares. The offering is expected to raise approximately $46.6 million, or $53.7 million if the option is fully exercised, and is set to close on March 27, 2025. The proceeds will be used to commercialize SYMVESS™ for vascular trauma, develop other pipeline products, and for general corporate purposes. This move is part of Humacyte’s strategy to advance its biotechnology platform and expand its market presence in bioengineered human tissues.