Erasca Insider Buys Surge: Director Garner Ebun Adds 124,000 Shares Amid 462% Stock Rally, Signals Long‑Term Confidence and Compliance‑Driven Liquidity Moves

Insider Buying Fuels Optimism Amid a Surge in Share Price Garner Ebun, Erasca’s General Counsel and Corporate Secretary, added 3,902 shares to his position on December 15, 2025, at a price of $1.19 per share. The trade was executed under the company’s 2021 Employee Stock Purchase Plan, underscoring the board member’s confidence in Erasca’s long‑term prospects. The purchase came at a time when the stock had already vaulted from $1.01 to $5.83, a 462 % jump that has electrified the market and driven a 62 % weekly gain. With a market cap of about $1.03 billion and a P/E of –7.87, the stock is trading well below its 52‑week low, suggesting that investors may still be in the “buy‑the‑dip” phase.

Rule 10b5‑1 Plan Keeps the Deal Clean In early January, Ebun executed a sizable Rule 10b5‑1 trading plan transaction: buying 120,000 shares at $1.70 and selling 120,000 shares at a weighted average of $5.59. The plan, adopted on June 30, 2024, provides a structured, pre‑agreed schedule that mitigates any appearance of market manipulation. The simultaneous buy and sell legs illustrate that Ebun is not merely accumulating shares; he is actively managing liquidity and positioning himself for future upside while maintaining compliance. The sale proceeds were received at prices ranging from $5.50 to $5.80, comfortably above the current trading price of $5.17, giving the company’s shareholders an additional $3.62 per share of unrealized gain.

Derivative Activity Signals a Strong Long‑Term View Earlier in 2025, Ebun exercised a fully vested stock‑option award of 120,000 shares, converting the option into 360,000 shares. This move increased his holdings to 25,076 shares post‑transaction, reinforcing a long‑term stake that aligns his interests with those of public shareholders. The exercise price was effectively zero, indicating that the options were likely granted at a discount or were part of an incentive plan that rewards senior executives with a substantial equity upside. By exercising the options, Ebun demonstrates confidence that Erasca’s clinical pipeline—particularly its RAS/MAPK‑driven therapies—will generate value above current market expectations.

What This Means for Investors The insider activity paints a picture of a director who is not only comfortable with the company’s valuation but also believes the stock is poised for further growth. The Rule 10b5‑1 trades, coupled with the option exercise, suggest a disciplined approach to equity ownership that balances liquidity needs against a commitment to long‑term value creation. For investors, the insider buying—especially at a price well below the current market level—acts as a bullish signal that could help sustain the 62 % weekly rally. Analysts at Piper Sandler have already upgraded Erasca to “Overweight,” citing a target price near $5.00, which is comfortably above the current price yet still below the 52‑week high.

Conclusion: Insider Moves Reinforce a Positive Narrative While Erasca’s clinical‑stage status and negative P/E ratio mean that risk remains, the insider transactions by Garner Ebun provide a reassuring narrative: senior leadership is willing to stake personal capital on the company’s future. This insider confidence, combined with the recent social‑media buzz (72 % above average) and positive sentiment (+6), positions Erasca as a compelling candidate for investors looking to capitalize on a potentially undervalued oncology platform with a strong pipeline and a proactive board.