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U.S. Senator trading alert: This stock surged 40% within 4 days of disclosure

U.S. Senator trading alert: This stock surged 40% within 4 days of disclosure
Vinicius Barbosa

U.S. Senator Tommy Tuberville disclosed the purchase of Humacyte Inc. (NASDAQ: HUMA) stocks on April 15. Four days later, HUMA’s stock saw a 43% price surge, raising alerts of suspicious trading activity.

Finbold retrieved trading data from Quiver Quantitative on Friday, April 19, with details on Tuberville’s disclosure. In particular, the U.S. Senator bought between $ 1,001 and $15,000 in Humancyte’s shares on March 21.

HUMA was priced at $3.6 per share then, rendering around 11.67% gains for Tommy Tuberville’s purchase. Notably, the stock remarkably outperformed the S&P 500 Index ETF (SPY) – with 4.72% losses – in that period.

Furthermore, the U.S. Senator disclosed the purchase in what appears to be a local bottom for Humancyte’s stock. The stock traded at $2.87 on the disclosure day, rallying 40% to $4.02 per share as of writing.

Tommy Tuberville bought $HUMA on March 21, 2024. Source: Quiver Quantitative

Humacyte, the U.S. government, and Senator Tommy Tuberville

Humacyte, Inc. is reshaping the landscape of regenerative medicine with its pioneering bioengineered human tissue replacements. Founded on groundbreaking research, the company is at the forefront of developing off-the-shelf, universally implantable human tissues designed to improve the lives of millions suffering from vascular and other complex diseases.

On February 29, Humancyte announced the pricing of an underwritten public offering of 13,400,000 shares of its common stock at a public offering price of $3.00 per share.

The Food and Drug Administration (FDA) of the U.S. government has recognized the potential of its flagship technology. Interestingly, the company intends to use the net proceeds that it will receive from the offering to support the FDA’s review of its Biologics License Application.

Moreover, Quiver Quantitative reported that Humacyte is testing its technology in Ukraine, treating combat injuries. Meanwhile, U.S. Senator Tommy Tuberville sits on the Armed Services Committee. 

In December 2022, the House of the Armed Services Committee issued a statement on the United States’ support to Ukraine. On that note, Representative Adam Smith mentioned “unprecedented economic, military, and humanitarian assistance” sent by the Biden administration.

In closing, members of Congress have traded HUMA stock five times in the past six months, as reported by Quiver Quantitative on April 16. Four of those trades were purchases, and one was sales. 

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