Humacyte, Inc.
- Open
- 0.65
- Day high
- 0.65
- Day low
- 0.58
- Prev close
- 0.65
- Volume
- 13.5M
- Mkt cap
- $167M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 5.3
- P/S
- 78.8
- Yield
- —
- Per share
- —
- ▲Insiders net buying $25K over the last 3 months (2 open-market buys, 0 sales)
- 🏛Institutions accumulating (13F)
Humacyte, Inc. (HUMA) is a Healthcare company listed on NASDAQ. The stock is down 61% over the past year. Over the trailing 3 months, insiders filed 2 open-market buys and 0 sales (SEC Form 4). Drillr has 1 published research article covering HUMA.
Humacyte, Inc. (HUMA) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 5 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
HUMA earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 12, 2026 | $-0.11 | $-0.16 | -41.0% | $406000 | -61.0% |
| May 13, 2026 | $-0.10 | $-0.09 | +10.0% | $495000 | -66.2% |
| Mar 27, 2026 | $-0.13 | $-0.13 | +0.0% | $467000 | -65.4% |
| Nov 12, 2025 | $-0.17 | $-0.14 | +17.6% | $753000 | -44.2% |
| Mar 28, 2025 | $-0.23 | $-0.16 | +30.4% | $7M | +1029.0% |
| Nov 8, 2024 | $-0.26 | $-0.33 | -26.9% | — | — |
| May 10, 2024 | $-0.23 | $-0.29 | -26.1% | — | — |
| Mar 22, 2024 | $-0.25 | $-0.24 | +4.0% | — | — |
| Nov 9, 2023 | $-0.25 | $-0.25 | +0.0% | — | — |
| Aug 14, 2023 | $-0.22 | $-0.22 | +0.0% | — | — |
| May 12, 2023 | $-0.22 | $-0.22 | +0.0% | — | — |
| Mar 24, 2023 | $-0.24 | $-0.21 | +12.5% | $5000 | -97.5% |
HUMA insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 21, 2026 | Jones Keith Anthonydirector | Buy | 10,000 | $0.69 |
| Aug 19, 2026 | Jones Keith Anthonydirector | Buy | 30,000 | $0.59 |
| Jun 12, 2026 | Wallace Max N.director | Grant | 80,000 | $1.08 |
| Jun 12, 2026 | Constantino Michael T.director | Grant | 80,000 | $1.08 |
| Jun 12, 2026 | Windham-Bannister Susan Richardsdirector | Grant | 80,000 | $1.08 |
| Jun 12, 2026 | Sebelius Kathleendirector | Grant | 80,000 | $1.08 |
| Jun 12, 2026 | Niklason Laura Edirector, officer: President, CEO and Director | Grant | 80,000 | $1.08 |
| Jun 12, 2026 | Dougan Brady Wdirector | Grant | 0 | $1.08 |
| Jun 12, 2026 | Brown Emery N.director | Grant | 80,000 | $1.08 |
| Jun 12, 2026 | Bamforth John Philipdirector | Grant | 80,000 | $1.08 |
| Jun 12, 2026 | Seimetz Dianedirector | Grant | 80,000 | $1.08 |
| Jun 12, 2026 | Green Charles Brucedirector | Grant | 80,000 | $1.08 |
| Jun 12, 2026 | Jones Keith Anthonydirector | Grant | 80,000 | $1.08 |
| May 20, 2026 | Constantino Michael T.director | Buy | 11,000 | $0.89 |
| May 20, 2026 | Sebelius Kathleendirector | Buy | 56,818 | $0.88 |
Source: HUMA SEC Form 4 filings, latest Aug 21, 2026. For informational purposes only — not investment advice.
See the full HUMA insider & 13F page →HUMA research & analysis
Humacyte, Inc. company profile
Overview
Humacyte, Inc. (NASDAQ:HUMA) is a clinical-stage biotechnology company founded in 2004 and headquartered in Durham, North Carolina. The company went public in December 2020 and specializes in developing bioengineered human tissues for vascular repair and replacement applications. Humacyte has achieved its first commercial milestone with the FDA approval of its flagship product Symvess in 2024 for treating extremity vascular trauma, marking the transition from a pure research and development company to one generating initial commercial revenues.
Business
Humacyte operates in the regenerative medicine and tissue engineering sector, focusing on creating Human Acellular Vessels (HAVs) - bioengineered blood vessels that can be implanted into patients without triggering immune rejection. The company's proprietary technology platform grows human tissues in bioreactors using donated human cells, then removes all cellular components to create "off-the-shelf" vascular grafts that can be stored and used when needed. The company's core technology addresses a fundamental problem in vascular surgery: the lack of suitable replacement vessels. Traditional options include synthetic grafts (which have high infection and failure rates) or using the patient's own vessels from other body parts (which requires additional surgery and may not be available). Humacyte's HAVs are designed to integrate with the patient's body, allowing natural healing and growth while avoiding the complications associated with foreign materials. **Primary Business Segments:** 1. **Vascular Trauma (Symvess)** - The company's first commercialized product, approved for treating severe extremity vascular injuries. This represents the initial revenue-generating segment, with early commercial sales beginning in 2025. 2. **Dialysis Access (ATEV Program)** - Developing HAVs for creating arteriovenous access points in kidney dialysis patients. This represents the largest near-term market opportunity, with Phase 3 trials ongoing and regulatory submission planned for 2026. 3. **Pipeline Applications** - Including peripheral arterial disease treatment, coronary artery bypass grafting using small-diameter vessels, and the experimental BioVascular Pancreas program for Type 1 diabetes treatment through islet cell transplantation. Currently, vascular trauma generates minimal revenue (under $1 million annually), while the dialysis access market could represent hundreds of millions in potential revenue upon approval.
Revenue model
Humacyte generates revenue through direct product sales of its bioengineered vessels to hospitals and medical centers. The company's business model is based on manufacturing HAVs in advance and storing them for on-demand use, allowing hospitals to have immediate access to vascular grafts without waiting for patient-specific preparation. **Revenue Streams:** 1. **Product Sales** - Direct sales of Symvess to Level 1 trauma centers, with pricing designed to demonstrate cost-effectiveness compared to current alternatives. The company targets approximately 200 major trauma centers in the United States. 2. **Research Collaboration Revenue** - Partnerships with organizations like Fresenius Medical Care and research institutions, generating smaller revenue streams during development phases. **Customer Base:** The primary customers are large hospital systems, particularly Level 1 trauma centers and dialysis centers. These institutions make purchasing decisions through Value Analysis Committees (VACs) that evaluate clinical effectiveness and economic impact. **Margin Influencing Factors:** Positive margin drivers include the company's ability to manufacture HAVs at scale in centralized facilities, reducing per-unit costs as production volumes increase. The premium pricing potential exists due to superior clinical outcomes compared to synthetic alternatives, including lower infection rates and better long-term patency. Negative margin pressures include the complex manufacturing process requiring specialized bioreactor facilities, extensive quality control testing, and cold-chain storage and distribution requirements. The company also faces ongoing research and development costs for pipeline programs and regulatory compliance expenses. Competition from established synthetic graft manufacturers and potential future biosimilar products could pressure pricing, while reimbursement challenges from insurance providers may limit market penetration and pricing flexibility.
Competitive moat
Humacyte's competitive moat is moderately strong but faces several challenges. The company's primary advantage lies in its proprietary tissue engineering platform and manufacturing expertise, which creates significant barriers to entry. The complex bioreactor-based production process, regulatory approvals, and clinical validation represent substantial time and capital investments that competitors would need to replicate. **Moat Strengths:** The company has established intellectual property protection around its HAV technology and manufacturing processes. Clinical data demonstrating superior outcomes compared to synthetic grafts provides a compelling value proposition to hospitals. The regulatory pathway creates additional barriers, as competitors would need to conduct extensive clinical trials and obtain FDA approval. **Moat Vulnerabilities:** The bioengineered tissue space is attracting significant investment and research attention from larger pharmaceutical and medical device companies with greater resources. Traditional synthetic graft manufacturers like Gore-Tex and Medtronic have established relationships with hospitals and could potentially develop competing technologies. The company's manufacturing capacity constraints could limit its ability to scale quickly and defend market share. **Competitive Threats:** Emerging technologies in 3D bioprinting and tissue engineering could potentially offer alternative approaches to creating vascular grafts. Large medical device companies with existing vascular product portfolios could acquire competing technologies or develop their own bioengineered solutions. Additionally, improvements in synthetic graft materials or drug-eluting technologies could reduce the clinical advantages of HAVs. The moat strength will ultimately depend on Humacyte's ability to scale manufacturing, expand clinical applications, and maintain technological leadership as the regenerative medicine field evolves rapidly.
Risks & safety
**Overall Assessment:** Moderate to high financial risk due to cash burn and early commercialization stage, but improving with recent FDA approval and revenue generation. **Cash and Liquidity:** - Cash and short-term investments: $62.8 million (Q1 2025) - Quarterly cash burn: approximately $28-30 million - Current runway: approximately 6-8 quarters at current burn rate - Current ratio: 3.68, indicating strong short-term liquidity **Debt and Solvency:** - Debt-to-equity ratio: 0.44, manageable debt levels - Total liabilities exceed total assets by significant margin due to accumulated losses - No immediate solvency concerns given cash position **Valuation Metrics:** - Trading at very low absolute price levels ($1.73) - P/E ratio: 1.44 (artificially low due to one-time accounting gains) - Price-to-book: 6.24, elevated but not extreme for biotech - Enterprise value negative relative to EBITDA due to cash position **Other Considerations:** - Recent workforce reduction of 31 employees to extend cash runway - Potential for additional financing needs before achieving cash flow positive operations - Revenue growth trajectory critical for long-term viability
Recent development
Over the past few years, Humacyte has undergone a significant transformation from a pure research company to a commercial-stage biotechnology firm. The most pivotal development was achieving FDA approval for Symvess in 2024, marking the company's first approved product after nearly two decades of development. **Key Strategic Developments:** The company successfully completed its Phase 2/3 V005 trial for vascular trauma, demonstrating superior clinical outcomes including 91.5% 30-day patency rates and significantly lower infection rates compared to synthetic grafts. This led to FDA approval and the initiation of commercial sales in early 2025, with the first shipments made to three Level 1 trauma centers. In the dialysis access program, Humacyte completed its V007 Phase 3 trial, meeting co-primary endpoints and showing statistical superiority over arteriovenous fistulas. The company is now conducting the V012 trial focused specifically on female patients, with an interim analysis planned for April 2026 and supplemental BLA submission expected in the second half of 2026. **Pipeline Expansion:** The company has broadened its development pipeline beyond trauma applications. It received RMAT (Regenerative Medicine Advanced Therapy) designation for peripheral arterial disease and is preparing to file an IND application for small-diameter HAVs in coronary artery bypass grafting. The BioVascular Pancreas program for Type 1 diabetes treatment continues in preclinical development with promising results in primate studies. **Operational Optimization:** Recognizing the need to extend its cash runway, Humacyte implemented cost reduction measures including a 31-employee workforce reduction in 2025, targeting $13.8 million in savings for 2025 and $38 million for 2026. The company has also focused its commercial efforts on a targeted approach, building relationships with key trauma centers rather than pursuing broad market expansion.
HUMA company profile · for informational purposes only — not investment advice.
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