HUMA

Humacyte

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-$8.51 -71.27%
James Keithly's avatar
$17.4m follower assets
Humacyte ($HUMA)
So let me kick this off with my track record with biotech is poor and I've had my fingers burned often enough that I tend to stay away---see DMTK, TMDX, etc. That said, Humacyte is a biotech company developing artificial blood vessels that are in Phase 3 trials and eliminate the need to harvest the patient's blood vessels for trauma/burns/etc. JAMA just published a positive article and the company seems to be poorly followed / little know. Other scientific articles also appear to show that their process is promising. I just added to my position, but am keeping my allocation small (1.3% of portfolio).

Company was a SPAC and merged with Alpha Healthcare...given how lovely the rest of the SPAC market turned out, Humacyte has a lot to prove. Humacyte is FCF negative and burned $80M last year and looks to burn $80M this year with ~$200M in the bank---so they've got two more years of runway.

A group of insiders purchased shares in May at roughly $4.7/share, but a similar group had sold a significantly larger number of shares at ~$9/share in December. These trades are irregular and significant so they aren't 10b5 programmatic plans, but the December trades so they could be tax related, but more likely indicate the owners desire for income (imo).

Curious if anyone else is following and/or has thoughts.

Also, HUMA has some of the classic SPAC flaws...namely ridiculous projections. Company predicted $600M in 2023 revenues and 2022 is currently tracking for $1M in revenue. Pretty ridic.
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