China Universal Asset Management Co. Ltd. Has $148,000 Holdings in Erasca, Inc. (NASDAQ:ERAS)

China Universal Asset Management Co. Ltd. grew its position in shares of Erasca, Inc. (NASDAQ:ERAS) by 78.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 54,335 shares of the company’s stock after acquiring an additional 23,808 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Erasca were worth $148,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Creative Planning lifted its stake in Erasca by 23.0% in the third quarter. Creative Planning now owns 20,014 shares of the company’s stock valued at $55,000 after acquiring an additional 3,737 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Erasca by 82.2% during the 2nd quarter. Victory Capital Management Inc. now owns 21,479 shares of the company’s stock valued at $51,000 after purchasing an additional 9,689 shares in the last quarter. Edmonds Duncan Registered Investment Advisors LLC lifted its stake in shares of Erasca by 41.2% in the 2nd quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 34,280 shares of the company’s stock valued at $81,000 after purchasing an additional 10,000 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Erasca by 27.0% in the second quarter. The Manufacturers Life Insurance Company now owns 47,861 shares of the company’s stock worth $113,000 after purchasing an additional 10,164 shares in the last quarter. Finally, Federated Hermes Inc. bought a new stake in Erasca in the second quarter worth $31,000. Institutional investors own 67.78% of the company’s stock.

Erasca Stock Performance

Shares of NASDAQ:ERAS opened at $2.59 on Friday. The stock’s 50-day moving average is $2.76 and its 200-day moving average is $2.54. The company has a market cap of $731.69 million, a P/E ratio of -2.82 and a beta of 1.16. Erasca, Inc. has a 52-week low of $1.51 and a 52-week high of $3.45.

Erasca (NASDAQ:ERAS) last released its earnings results on Monday, August 12th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.12). As a group, equities analysts predict that Erasca, Inc. will post -0.91 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on ERAS shares. The Goldman Sachs Group boosted their price target on Erasca from $3.00 to $3.50 and gave the stock a “buy” rating in a research report on Friday, October 25th. HC Wainwright reaffirmed a “buy” rating and set a $6.00 target price on shares of Erasca in a research report on Friday, October 25th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.10.

Erasca Profile

Erasca, Inc, a clinical-stage precision oncology company, focuses on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers. The company’s lead product is naporafenib which is in phase 1b trial for patients with RAS Q16X solid tumors and plans to initiate a pivotal Phase 3 trial for patients with NRASm melanoma.