HUMA - Humacyte plunges as Piper downgrades citing further weakness ahead

The shares of Humacyte (NASDAQ:HUMA) are trading sharply lower on Monday after Piper Sandler downgraded the clinical-stage biotech to Underweight from Overweight expecting weakness in the near-term and citing attractiveness in the commercial-stage companies. The analysts led by Matt O'Brien continue to favor the human acellular vessels (HAVs) technology the company has developed. However, they point out that several commercial-stage health equipment names such as CVRx (CVRX) and Sight Sciences (SGHT) with unique technologies have witnessed a sizable pullback in recent months amid volatility. That makes them “more attractive than a pre-revenue name like HUMA,” the analysts wrote, adding that the company shares have lost 30% compared to 27% – 66% of commercial-stage names. The team also predicts that Humacyte (HUMA) would take longer than their 3Q 2023 estimate to record commercial revenue for HAV and calls the rate of topline growth “steep, potentially a bit too aggressive.” The price

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Humacyte plunges as Piper downgrades citing further weakness ahead