Humacyte (HUMA) AI Stock Analysis

• Market Cap: $203.21M
• Dividend Yield: N/A
• Average Volume (3M): 5.12M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.35
• Revenue Growth: N/A
• EPS Growth: -17.92%
• Country: US
• Employees: 218
• Sector: Healthcare
• Sector Strength: 57
• Industry: Biotechnology
• EPS (TTM): -1.26
• Shares Outstanding: 155,118,820
• 10 Day Avg. Volume: 2,348,219
• 30 Day Avg. Volume: 5,119,419
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): 0.00
• Price to Cash Flow (P/CF): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: 3.33
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -8.84
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $14.00
• Price Target Upside: 968.70% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5

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

Financial Performance

Analyst's recommendation for HUMA is a Buy with a price target of $8, reflecting the company's growth potential in regenerative medical technology.

Investment Opportunity

Humacyte's valuation reflects a discount to peer regenerative medical technology companies, making it an attractive investment opportunity.

Product Launch

Humacyte's launch of Symvess is gaining positive traction, with 34 hospitals initiating the Value Analysis Committee process, marking strong initial interest.

Negative Factors

Market Valuation

PT moves to $5 from $7.50, to reflect the recent contraction in small-cap valuations and the new share.

Revenue Expectations

FY26 will require accelerated utilization as Street estimates grow significantly compared to FY25.

Stock Pressure

HUMA stock pressure is overdone as a recent news article discussing Symvess' safety profile is 'old news' for investors and clinicians.

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 substantial financial challenges across all statements. The income statement shows persistent losses, the balance sheet reveals financial instability with negative equity, and cash flow indicates reliance on external financing. The company must address its operational inefficiencies and restructure its financials to move towards profitability and sustainability.

Income Statement

Humacyte's income statement reflects significant challenges, with consistent net losses and negative EBIT and EBITDA margins over the years. The TTM data shows some revenue growth, but profitability remains elusive. Gross Profit Margin is negative, indicating cost issues. Despite some revenue growth, the company struggles with high operational expenses, leading to ongoing net losses.

Balance Sheet

The balance sheet reveals a weak equity position with negative stockholders' equity in the TTM period, indicating financial instability. The debt-to-equity ratio is not calculable due to negative equity, posing a risk. Total liabilities exceed total assets, indicating financial distress. The company needs to improve its capital structure and reduce liabilities to stabilize financially.

Cash Flow

Humacyte's cash flow statements show consistent negative free cash flow, indicating operational cash consumption. The TTM period reflects large negative operating cash flow compared to net income. Financing activities have been a crucial source of cash, highlighting reliance on external funding. The company needs to focus on improving operational efficiency to achieve positive cash flow.

Breakdown
Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Income Statement		Total Revenue
0.00	1.56M	1.26M	1.49M	6.19M
	Gross Profit
-76.55M	-6.69M	1.21M	-6.94M	-69.42M
	EBIT
-100.05M	-84.58M	-81.21M	-64.60M	-85.69M
	EBITDA
-96.46M	2.49M	-72.97M	-56.25M	-78.94M
	Net Income Common Stockholders
-110.78M	64.22M	37.54M	-68.73M	-85.42M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
80.45M	151.88M	225.50M	39.93M	93.71M
	Total Assets
128.22M	204.30M	286.53M	106.69M	168.69M
	Total Debt
57.51M	47.76M	48.47M	28.86M	25.65M
	Net Debt
-22.94M	-102.01M	-169.03M	-11.07M	-68.06M
	Total Liabilities
114.68M	87.37M	164.36M	457.00M	36.49M
	Stockholders Equity
13.55M	116.93M	122.17M	-350.32M	132.20M
Cash Flow		Free Cash Flow
-75.58M	-72.18M	-81.41M	-55.89M	-79.91M
	Operating Cash Flow
-73.31M	-71.13M	-81.19M	-55.57M	-71.79M
	Investing Cash Flow
-173.00K	4.84M	-8.22M	-268.00K	-8.13M
	Financing Cash Flow
4.51M	-1.45M	266.98M	2.05M	-74.00K

Humacyte Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.31
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Positive

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 1.31 is below the 20-day moving average (MA) of 1.45, below the 50-day MA of 2.27, and below the 200-day MA of 4.64, indicating a bearish trend. The MACD of -0.24 indicates Negative momentum. The RSI at 33.03 is Neutral, neither overbought nor oversold. The STOCH value of 19.84 is Positive, 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
CMPX	60 Neutral	$261.35M	―	-36.07%	―	―	-7.93%
PVLA	52 Neutral	$270.11M	―	-68.21%	―	-97.15%	54.85%
Sector *	52 Neutral	$5.35B	3.96	-42.60%	2.86%	17.58%	1.27%
VNDA	48 Neutral	$269.33M	―	-3.49%	―	3.18%	-835.29%
AVIR	47 Neutral	$254.87M	―	-33.88%	―	―	-22.66%
HUMA	42 Neutral	$203.21M	―	239.90%	―	―	-17.92%
CADL	33 Underperform	$249.40M	―	-139.56%	―	―	-33.79%

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.