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In a recent transaction, Charles Bruce Green, a director at Humacyte, Inc. (NASDAQ:HUMA), acquired 6,000 shares of the company's common stock. The purchase comes as InvestingPro data shows the stock trading near its 52-week low of $1.18, with shares down over 77% in the past six months. The shares were purchased at a weighted average price of $1.29 per share, amounting to a total value of $7,740. Following this acquisition, Green's total holdings in Humacyte have increased to 8,400 shares. The purchase was executed with prices ranging from $1.285 to $1.2891 per share. With a market capitalization of $179 million and analyst price targets ranging from $3 to $25, InvestingPro subscribers can access 10+ additional insights about HUMA's valuation and financial health through the comprehensive Pro Research Report.
In other recent news, Humacyte reported a narrower fourth-quarter loss of $0.16 per share, surpassing analyst expectations of a $0.25 per share loss, but the company did not generate any revenue during this period. Despite receiving FDA approval for its vascular graft product, Symvess, in December, Humacyte's commercial launch has yet to translate into sales. The company initiated the distribution of Symvess to two Level 1 trauma centers and noted that 34 hospitals have begun the approval process to purchase the product. CEO Laura Niklason expressed optimism about the ongoing commercial launch, highlighting the positive response from healthcare providers.
Benchmark analysts maintained a Buy rating on Humacyte with a $17 target, citing the company's promising pipeline and strategic plans for future regulatory filings. These plans include an IND application for coronary artery bypass grafting in 2025 and a supplemental BLA for dialysis AV access in 2026. BTIG analyst Ryan Zimmerman also maintained a Buy rating but adjusted the price target from $10 to $8, acknowledging the early commercial traction of Symvess. Humacyte ended the year with $95.3 million in cash and equivalents, later raising approximately $46.6 million through a public stock offering. The company's increased net loss of $148.7 million in 2024 was primarily due to heightened research and development expenses and preparation costs for the commercial launch of Symvess.
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