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This stock surged 100% since US Senator bought it 2 months ago

This stock surged 100% since US Senator bought it 2 months ago
Elmaz Sabovic

While Nancy Pelosi often dominates discussions on insider trades in the US, the year 2024 has seen a shift in focus to her Republican counterpart, Tommy Tuberville. His series of trades, particularly notable for their insider nature, have sparked significant interest.

One of the most talked-about trades is the acquisition of Humacyte (NASDAQ: HUMA) stock in three separate purchases worth approximately $80,000 on March 21. 

HUMA shares have surged by 96% in just two months since the purchase, almost doubling in their value.

Tuberville purchase of HUMA stock. Source: Quiver Quantitative
Tuberville purchase of HUMA stock. Source: Quiver Quantitative

On a YTD basis, HUMA stock has added an impressive 144.29% to its value, rising from $2.89 to $7.06 in the latest trading session.

Tuberville missed out on some gains from HUMA stock

Despite the HUMA stock’s impressive performance in the last months, Senator Tuberville was ready to cash in on some of his holdings, selling $50,000 worth of HUMA shares on April 30.

Unfortunately for him, HUMA shares gained an additional 80.10% in value, with Tuberville missing thousands of dollars in gains.

For example, if Tuberville had waited until the latest trading session on May 20, his profit would have been significantly larger, reaching $75,000, effectively doubling the initial investment.

Why is Humacyte’s trade so suspicious?

As Humacyte focuses on various biomedical projects and innovative ways to treat trauma injuries, it has recently announced testing the latest technology in Ukraine to treat combat injuries.

The purchase of Humacyte might not raise as many eyebrows if it weren’t for the fact that Tuberville is a member of the Armed Services Committee. 

This committee directly oversees grants and projects involving companies like Humacyte, adding to the suspicion surrounding Tuberville’s transactions.

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