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Tommy Tuberville Trades Raise Eyebrows Again: Senator Sells Put Options, Buys Small Biotech Linked To Ukraine-Russia War

Published 17/04/2024, 23:05
© Reuters.  Tommy Tuberville Trades Raise Eyebrows Again: Senator Sells Put Options, Buys Small Biotech Linked To Ukraine-Russia War

Benzinga - by Chris Katje, Benzinga Staff Writer.

U.S. Sen. Tommy Tuberville‘s latest regulatory filing shows the sale of put options for Adobe Inc (NASDAQ:ADBE), Qualcomm Inc (NASDAQ:QCOM) and Applied Materials Inc (NASDAQ:AMAT).

The trading activity of stocks and options by members of Congress continues to draw increased scrutiny, with potential conflicts of interest related to Congressional committees and the timing of trades made.

The Adobe options are for a strike price of $500 and expiration date of Dec. 20, 2024. The filing indicates that four separate trades valued at $1,000 to $15,000 of Adobe options were made, according to Quiver Quant.

The Qualcomm options are for a strike price of $155 with an expiration date of Dec. 20, 2024. The transaction value of the trade was $15,000 to $50,000.

The Applied Materials options are for a strike price of $175 and an expiration date of Jan. 17, 2025. The transaction value of the trade was $1,000 to $15,000.

"BREAKING: Senator Tommy Tuberville is once again trading options," Unusual Whales tweeted. "He is literally trading companies which he legislates on, while having leveraged positions over them. Unusual."

The filing also showed the Alabama Republican once again bought shares of small biotech Humacyte Inc (NASDAQ:HUMA), with three transactions totaling amounts of $1,000 to $15,000; $1,000 to $15,000; and $15,000 to $50,000.

"BREAKING: Senator Tommy Tuberville has disclosed new purchase of Humacyte stock, $HUMA. It's a small biotech company that makes implantable human tissues. They've been testing their tech in Ukraine, treating combat injuries. Tuberville sits on the Armed Services Committee," Quiver Quant tweeted.

Congress Trades Create Conflict Of Interest Questions: Benzinga previously shared that trades involving Humacyte drew attention given the small-cap nature of the company and the fact that Tuberville serves on the Senate Armed Services Committee.

Humacyte collaborated with regulators, including the FDA in the U.S., to send its investigational HAV (Human Acellular Vessel) to Ukraine for humanitarian use.

The company said its HAV has been provided to hospitals in Ukraine and used to treat patients with critical injuries.

Tuberville has been flagged for unusual stock trading in the past and remained one of the most active members of Congress buying and selling stocks and options.

A recent filing showed Tuberville buying stock in regional bank Southern States Bancshares Inc (NASDAQ:SSBK). The CEO of the company is a donor to Tuberville's senate campaign.

A report from Business Insider said Tuberville was late in disclosing around 130 stock trades from January to May 2021.

A report from the New York Times highlighted Tuberville bought or sold stock and options in 17 companies that had business in front of Senate committees on which he served.

Read More: Dartmouth Basketball Team May Change The NCAA Forever: ‘This Will Absolutely Kill College Sports’ Senator Says

Tuberville’s Congress Trades: Tuberville is no stranger to buying and selling stocks while a member of Congress. The senator is one of the most active traders and buys and sells options sometimes, as per his disclosures.

The senator recently disclosed several stock transactions, which included buying $15,000 to $50,000 in shares of Paramount Global (NASDAQ:PARA)(NASDAQ:PARAA) and buying $15,000 to $50,000 in shares of Walgreens Boots Alliance (NASDAQ:WBA).

Tuberville also disclosed selling shares of Apple Inc (NASDAQ:AAPL), JPMorgan Chase & Co (NYSE:JPM), CSX Corp (NASDAQ:CSX) and Texas Instruments Inc (NASDAQ:TXN).

Related Link: 10 Best Stock Traders In Congress In 2023 (Spoiler: Nancy Pelosi Has Reentered The Chat)

Photo: Shutterstock

© 2024 Benzinga does not provide investment advice. All rights reserved.

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