ERAS Stock Summary and Trading Ideas (Erasca | NASDAQ:ERAS)

Erasca Inc is a clinical-stage precision oncology company singularly focused on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers. The company's pipeline includes; Naporafenib, a pan-RAF inhibitor with first-in-class potential in NRASm melanoma, RAS Q61X tissue agnostic solid tumors, and other RAS/MAPK pathway-driven tumors, and ERAS-007 (oral ERK1/2 inhibitor) and ERAS-601 (oral SHP2 inhibitor), which target downstream and upstream nodes, respectively, of the RAS/MAPK pathway.

Erasca trades on the NASDAQ stock market under the symbol ERAS.

As of December 13, 2024, ERAS stock price declined to $2.56 with 1,438,078 million shares trading.

ERAS has a beta of 2.09, meaning it tends to be more sensitive to market movements. ERAS has a correlation of 0.11 to the broad based SPY ETF.

ERAS has a market cap of $723.21 million. This is considered a Small Cap stock.

In the last 3 years, ERAS traded as high as $16.01 and as low as $1.51.

The top ETF exchange traded funds that ERAS belongs to (by Net Assets): VTI, IWM, VXF, XBI, IWN.

ERAS has underperformed the market in the last year with a price return of +26.7% while the SPY ETF gained +29.9%. ERAS has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -13.8% and -10.5%, respectively, while the SPY returned +7.8% and +0.3%, respectively.

ERAS support price is $2.50 and resistance is $2.76 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ERAS shares will trade within this expected range on the day.