Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Erasca Inc shares valued at $181,920 were purchased by Casdin Alexander W. on May 21 ’24. At $2.27 per share, Casdin Alexander W. acquired 80,000 shares. The insider’s holdings grew to 573,974 shares worth approximately $1.43 million following the completion of this transaction.
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Also, Lim Jonathan E purchased 278,150 shares, netting a total of over 478,418 in proceeds. Following the buying of shares at $1.72 each, the insider now holds 12,899,360 shares.
Before that, Start Valerie Denise Harding had added 10,000 shares to its account. In a trade valued at $18,480, the Director bought Erasca Inc shares for $1.85 each. Upon closing the transaction, the insider’s holdings increased to 10,000 shares, worth approximately $49800.00000000001.
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 -18.89%. Over the course of the year, Erasca Inc shares have jumped approximately 16.90%. Shares of the company reached a 52-week high of $3.45 on 07/26/24 and a 52-week low of $1.64 on 02/05/24. A 50-day SMA is recorded $2.60, while a 200-day SMA reached $2.18. Nevertheless, trading volume fell to 0.94 million shares from 1.12 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 2.38, which, if violated, would cause prices to drop to 2.26. In the upper region, resistance lies at 2.57. The next price resistance is at 2.65. RSI (Relative Strength Index) is 39.26 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.47, which suggests the price will decrease in the coming days. Percent R is at 86.49%, indicating bearish price movement. Stochastics%K at buying indicates that the stock is to be held.
