Humacyte (HUMA)
NASDAQ:HUMA
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Humacyte
(NASDAQ:HUMA)
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Rating:44Neutral
Price Target:
$0.56
▼(-14.31% Downside)
Action:ReiteratedDate:03/31/26
The score is primarily constrained by weak financial performance (minimal/declining revenue, large losses, heavy cash burn, and high leverage). Technicals also indicate a downtrend with bearish momentum, despite oversold conditions. Offsetting these, the earnings call conveyed improving early commercial traction for Symvess, positive clinical data, and extended runway from recent financing, but these positives are not yet large enough to outweigh the current financial and trend risks.
Positive Factors
Commercial traction for Symvess
Sustained sequential sales growth and expanded hospital eligibility (92 civilian hospitals) indicate early adoption and validated purchasing pathways. Over 2–6 months, continued VAC approvals and additional hospital listings can convert trial sales into durable recurring hospital procurement and scale revenue.
Negative Factors
Persistent high cash burn
Large, ongoing negative operating cash flow reflects heavy spending on R&D and commercialization before scale. Over 2–6 months this sustains dependency on external capital, elevates dilution and refinancing risk if revenue scale or cost reductions do not materialize as planned.
Read all positive and negative factors
Positive Factors
Negative Factors
Commercial traction for Symvess
Sustained sequential sales growth and expanded hospital eligibility (92 civilian hospitals) indicate early adoption and validated purchasing pathways. Over 2–6 months, continued VAC approvals and additional hospital listings can convert trial sales into durable recurring hospital procurement and scale revenue.
Read all positive factors
Humacyte (HUMA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$144.65M
Dividend YieldN/A
Average Volume (3M)8.11M
Price to Earnings (P/E)―
Beta (1Y)2.66
Revenue GrowthN/A
EPS Growth82.23%
CountryUS
Employees218
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.13
Shares Outstanding222,019,100
10 Day Avg. Volume7,279,176
30 Day Avg. Volume8,111,592
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 Cap0.76
Enterprise Value/Revenue53.73
Enterprise Value/Gross Profit-7.30
Enterprise Value/Ebitda-1.09
Forecast
1Y Price Target
$2.25Price Target Upside246.15% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering6
EPS Forecast (FY)-0.42
Revenue Forecast (FY)$13.32M
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:Nov 12, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:May 08, 2026
Earnings Call Sentiment Positive
The earnings call highlighted several positive developments, including a significant increase in product sales, expansion of hospital approvals, positive long-term results for Symvess, a strong financial performance with reduced net loss, successful fundraising, and expansion of intellectual property. However, challenges remain with increased administrative expenses and some resistance in the hospital VAC process due to budget constraints.Positive Updates
Significant Increase in Product Sales
Product sales improved to $703,000, a significant increase over the $100,000 reported last quarter.
Negative Updates
Research and Development Expenses
Research and development expenses were $17.3 million for the 3 months ended September 30, 2025, though decreased from $22.9 million in the prior year.
Read all updates
Q3-2025 Updates
Positive
Negative
Significant Increase in Product Sales
Product sales improved to $703,000, a significant increase over the $100,000 reported last quarter.
Read all positive updates
Company Guidance
In the conference call, Humacyte discussed its strong performance in the third quarter of 2025, highlighting several key metrics and achievements. The company reported product sales of $703,000 for Symvess, a significant increase from the $100,000 reported in the previous quarter. Symvess is now approved for purchase by 92 civilian hospitals following the completion of the Value Analysis Committee (VAC) process in 25 hospitals and healthcare systems, with an additional 45 VAC reviews in progress. Humacyte also achieved its first commercial sale to U.S. military facilities following the ECAT listing approval. The company shared positive long-term data from studies, showing Symvess's high patency and low complication rates in both hospital-acquired and wartime vascular trauma cases. Financially, Humacyte reported a net loss of $17.5 million for the quarter, down from $39.2 million in the previous year, with total revenue of $0.8 million, which included $0.1 million from a research collaboration. The company ended the quarter with $19.8 million in cash, and post-quarter financing increased its cash position by $56.5 million, providing a runway exceeding 12 months.Humacyte Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
18
Very Negative
Cash Flow
14
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.04M | 0.00 | 0.00 | 1.56M | 1.26M |
| Gross Profit | -15.01M | -7.19M | -76.55M | -6.69M | -60.08M |
| EBITDA | -100.09M | -132.23M | -96.46M | -76.37M | -72.97M |
| Net Income | -40.83M | -148.70M | -110.78M | -11.96M | -26.48M |
Balance Sheet | |||||
| Total Assets | 116.37M | 137.87M | 128.22M | 204.30M | 286.53M |
| Cash, Cash Equivalents and Short-Term Investments | 50.50M | 44.94M | 80.45M | 151.88M | 225.50M |
| Total Debt | 64.85M | 16.54M | 57.45M | 50.07M | 51.18M |
| Total Liabilities | 113.26M | 190.54M | 114.68M | 87.37M | 164.36M |
| Stockholders Equity | 3.11M | -52.67M | 13.55M | 116.93M | 122.17M |
Cash Flow | |||||
| Free Cash Flow | -105.93M | -99.69M | -75.58M | -72.18M | -81.41M |
| Operating Cash Flow | -105.04M | -98.12M | -73.31M | -71.13M | -81.19M |
| Investing Cash Flow | -884.00K | -1.57M | -173.00K | 4.84M | -8.22M |
| Financing Cash Flow | 61.49M | 114.18M | 4.51M | -1.45M | 266.98M |
Humacyte Technical Analysis
Negative
0.65
Price Trends
0.98
Negative
1.07
Negative
1.48
Negative
Market Momentum
-0.13
Positive
36.81
Neutral
25.61
Neutral
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 0.65 is below the 20-day moving average (MA) of 0.84, below the 50-day MA of 0.98, and below the 200-day MA of 1.48, indicating a bearish trend. The MACD of -0.13 indicates Positive momentum. The RSI at 36.81 is Neutral, neither overbought nor oversold. The STOCH value of 25.61 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HUMA.
Humacyte Risk Analysis
Humacyte disclosed 69 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 |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $658.20M | -1.58 | -57.07% | ― | -100.00% | 37.10% | |
50 Neutral | $557.26M | -2.58 | -81.41% | ― | ― | -21.22% | |
45 Neutral | $287.04M | -4.58 | 105.48% | ― | -3.91% | 37.89% | |
44 Neutral | $144.65M | -3.72 | -424.76% | ― | ― | 82.23% | |
44 Neutral | $163.03M | -1.44 | 279.62% | ― | ― | ― |
* Healthcare Sector Average
HUMA
Humacyte
0.65
-0.92
-58.54%
RNAC
Cartesian Therapeutics
6.15
-4.21
-40.64%
ALLO
Allogene Therapeutics
2.70
1.33
97.08%
FHTX
Foghorn Therapeutics
4.89
1.66
51.39%
KYTX
Kyverna Therapeutics, Inc.
9.22
7.35
393.05%
Humacyte Corporate Events
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.