Quiver Quantitative - On April 16th, we reported on a stock trade by Senator Tommy Tuberville that looked suspicious to us.
The stock has now risen 220% in the month since then.
The stock in question was Humacyte, $HUMA. It's a small biotech company that makes implantable human tissues. The company has been testing their tech in Ukraine, treating combat injuries.
The trade stood out to us for a few reasons:
1) Tuberville is the only politician who we have seen trading Humacyte stock
2) Tuberville sits on the Armed Services Committee
3) Humacyte's success is likely highly dependent upon the results of ongoing FDA review
Tuberville is not shy about his belief that politicians should be allowed to trade.
He has said that a ban on congressional trading would cut back on the number of people who wanted to serve.
We've also seen Tuberville trading millions of dollars in commodities futures, while sitting on a commodities subcommittee.
Tuberville has claimed that his portfolio is run by an advisor, but we see many trades in industries that he directly oversees.
Tuberville took some profit on his Humacyte trade at the end of April, but we still estimate that he holds over $100K in stock.
You can track all congressional trading on Quiver, along with information on politicians' stock portfolios.
This article was originally published on Quiver Quantitative