Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Erasca Inc shares valued at $478,418 were purchased by Lim Jonathan E on Dec 06 ’23. At $1.72 per share, Lim Jonathan E acquired 278,150 shares. The insider’s holdings grew to 12,899,360 shares worth approximately $23.73 million following the completion of this transaction.
Also, Start Valerie Denise Harding purchased 10,000 shares, netting a total of over 18,480 in proceeds. Following the buying of shares at $1.85 each, the insider now holds 20,000 shares.
Before that, Lim Jonathan E had added 721,850 shares to its account. In a trade valued at $1,217,761, the Chairman & CEO bought Erasca Inc shares for $1.69 each. Upon closing the transaction, the insider’s holdings increased to 721,850 shares, worth approximately $23.73 million.
As published in their initiating research note from CapitalOne on March 11, 2024, Erasca Inc [ERAS] has been an Overweight and the price target has been revised to $8. Analysts at BofA Securities downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in early January. As of October 11, 2023, H.C. Wainwright has initiated its “Buy” rating for ERAS. Earlier on March 30, 2023, Mizuho initiated its rating. Their recommendation was “a Buy” for ERAS stock.
Analyzing ERAS Stock Performance
During the last five days, there has been a drop of approximately -17.12%. Over the course of the year, Erasca Inc shares have dropped approximately -13.62%. Shares of the company reached a 52-week high of $2.6550 on 02/28/24 and a 52-week low of $1.6400 on 02/05/24. A 50-day SMA is recorded $2.0944, while a 200-day SMA reached $2.2185. Nevertheless, trading volume fell to 0.58 million shares from 0.74 million shares the previous day.
Support And Resistance Levels for Erasca Inc (ERAS)
According to the 24-hour chart, there is a support level at 1.8000, which, if violated, would cause prices to drop to 1.7600. In the upper region, resistance lies at 1.9200. The next price resistance is at 2.0000. RSI (Relative Strength Index) is 36.68 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.1924, which suggests the price will decrease in the coming days. Percent R is at 100.00%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
