TD Cowen analyst Josh Jennings maintained a Buy rating on Humacyte (HUMA – Research Report) today and set a price target of $10.00.
Josh Jennings has given his Buy rating due to a combination of factors, primarily focusing on the promising commercial launch of Humacyte’s Symvess product. The product has already initiated the VAC approval process in 21 hospitals, with two hospitals having completed their review and approved the purchase of Symvess. This early commercial momentum is a positive indicator of Symvess’s potential to penetrate the vascular trauma market effectively.
Moreover, the concentrated nature of the US market for vascular trauma, with approximately 200 Level 1 trauma centers, allows Humacyte to address this opportunity with a lean and highly skilled sales team. The existing sales force, comprised of experienced professionals with backgrounds in vascular and trauma surgery, is well-equipped to drive Symvess’s adoption. This strategic positioning and the early interest from hospitals underpin Jennings’s optimistic outlook and Buy rating for Humacyte’s stock.
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of HUMA in relation to earlier this year.