Vera Therapeutics (VERA) was Smart Insider's stock pick of the week after the company's non-executive director Patrick Enright purchased $5.3 million worth of company shares at $21.11 apiece on June 24, raising his stake by 5%.
Enright made these purchases indirectly on behalf of Longitude Capital, where he is cofounder and managing director, Smart Insider said in a Tuesday note, adding that the purchases took Longitude's stake to 8.5%.
Since joining in 2020, Enright has made three subscriptions, with the latest being his first open-market purchase, the note said, adding that it is "encouraging" that Enright is now purchasing at three times the price he paid two years earlier.
Smart Insider ranked the stock +N, notable and positive signal, on June 26.
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