As the stock market fluctuates, potentially wiping out recent gains, insider trading persists. Senator Tommy Tuberville is among those making moves ahead of the curve.
Specifically, Tuberville recently invested an additional $80,000 in Humacyte (NASDAQ: HUMA) for a total of $225,000 in the previous year.
Humacyte is a company that uses implantable human tissue to treat combat wounds. This technology has shown promise in healing injuries from the conflict in Ukraine, and an innovative approach could potentially revolutionize the treatment of such wounds.
Picks for you
Trades might not raise as many eyebrows if it weren’t for the fact that Tuberville is a member of the Armed Services Committee, which directly oversees grants and projects involving companies like Humacyte, adding to the suspicion surrounding Tuberville’s transactions.
HUMA stock is on a parabolic run
Since Tuberville’s investments in HUMA stock were revealed, the shares have soared by a remarkable 20% since April 16, with a hefty 15% boost in the latest trading session alone.
Looking at the year-to-date chart, HUMA stock has increased by 24.22%, reaching a valuation of $3.59 as of the most recent close.
Humacyte offers its stock to fund further research
Humacyte announced a public offering of its common stock a month ago. The offering includes an option for underwriters to purchase up to 15% of the shares.
The company intends to use the proceeds to advance its regenerative medicine pipeline, support the FDA’s review of its Biologics License Application for bioengineered human acellular vessels (HAVs), establish commercial infrastructure, and general corporate purposes.
Humacyte’s HAVs, currently in late-stage clinical trials, are designed for various vascular applications, and two product candidates have received the FDA’s Regenerative Medicine Advanced Therapy designation.
If the FDA approves further applications from Humacyte, this could positively impact HUMA shares and drive their price higher.
Buy stocks now with eToro – trusted and advanced investment platform
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
