As stock trades by politicians in the United States continue to draw attention due to the perceived unfair advantage they might have through their position, a pharmaceutical stock purchased by Representative Josh Gottheimer has gained an impressive 111% to its price since his trade.
Specifically, Gottheimer bought the stock of Agios Pharmaceuticals (NASDAQ: AGIO) earlier this year, on January 24, 2024, and it has since risen 111%, according to the data shared by Quiver Quantitative, the platform tracking politicians’ stock trades, in an X post on August 20.
As a reminder, he purchased between $1,001 and $15,000 worth of shares in the pharma company, which specializes in therapies for genetically defined diseases, with a near-term focus on developing treatments for hemolytic anemias, at an average price of $21.51.
Interestingly, as Quiver Quantitative noted in the original report, Gottheimer sits on the House Financial Services Committee, including the Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets, as well as on the Select Intelligence Committee, which might provide him with insider knowledge.
At the same time, he has attracted attention for some of his various other stock trades, including the purchase of Fair Isaac (NYSE: FICO) stocks in April, buying Broadcom (NASDAQ: AVGO) shares in June, that of Northrop Grumman (NYSE: NOC) in July, and many other buys and sales.
Agios Pharmaceuticals stock price analysis
Meanwhile, the price of AGIO stocks at press time stood at $44.87, reflecting a 1.32% drop on the day, an increase of 0.23% across the week, declining 6.03% on the month but advancing 96.54% since the year’s turn, according to the latest chart data on August 21.
All things considered, Gottheimer is an active stock trader despite growing questions regarding ethical (and legal) aspects of such practices by U.S. politicians. That said, it is critical to do one’s own research and not blindly mimic anyone’s stock trades regardless of potential insider knowledge, as trends in the stock market can easily change.
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Source: https://finbold.com/suspicious-politician-pharma-stock-trade-is-now-up-111/