Shares of clinical-stage precision oncology company Erasca were on the rise in Tuesday’s market, following news Chairman Jonathan Lim recently purchased 1 million shares of company stock.
The purchase brings his holdings to more than 31 million shares, according to a filing with the U.S. Securities and Exchange Commission.
At 3:30 p.m. ET, Erasca was trading at $2.51, up 14% on the day. Shares opened at $2.43 and reached as high as $2.79 earlier in the session.
On Oct. 4, the stock hit a 52-week low of $1.82.
Year to date, the stock is down by more than 41%.