AL Political Reporter: “Questions are swirling regarding whether or not Sen. Tommy Tuberville’s, R-Alabama, recent stock trades are an example of insider trading, according to a report by Newsweek .
Tuberville caught the eye of financial services website, Quiver Quantitative, who posted on social media last Monday about Tuberville’s trade in a biotech company called Humacyte. Humacyte is a smaller company but has been involved in the war in Ukraine using its technology regarding acellular tissue to help treat those harmed in the war.
On July 25, Tuberville bought three separate stocks in Humacyte with the highest being $45,000. At the time of the purchase, the company’s stock was almost at its lowest point. However, the stock would see an increase between Aug. 14 and Aug. 16 of 35 percent.
As Newsweek reported, there was a quarterly report conducted by Humacyte with investors on Aug. 14. During this report, the companies leadership provided a brief to investors stating: Ukrainian clinicians concluded that the HAV has the potential to offer combat surgical teams an off-the-shelf and universally implantable therapy that is resistant to infection, potentially offering durable performance to military personnel and helping with limb salvage.””