Erasca, Inc. (NASDAQ:ERAS) Stake Lowered by GSA Capital Partners LLP

GSA Capital Partners LLP lowered its stake in shares of Erasca, Inc. (NASDAQ:ERAS) by 46.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,848 shares of the company’s stock after selling 52,535 shares during the quarter. GSA Capital Partners LLP’s holdings in Erasca were worth $166,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ERAS. Federated Hermes Inc. acquired a new position in shares of Erasca during the second quarter valued at $31,000. Sei Investments Co. bought a new position in Erasca in the 2nd quarter worth about $39,000. Victory Capital Management Inc. increased its stake in shares of Erasca by 82.2% in the second 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 during the period. Creative Planning raised its holdings in shares of Erasca by 23.0% during the third quarter. Creative Planning now owns 20,014 shares of the company’s stock valued at $55,000 after buying an additional 3,737 shares during the last quarter. Finally, Edmonds Duncan Registered Investment Advisors LLC boosted its position in shares of Erasca by 41.2% during the second quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 34,280 shares of the company’s stock worth $81,000 after buying an additional 10,000 shares during the period. 67.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on ERAS shares. Jefferies Financial Group initiated coverage on Erasca in a research report on Monday, November 18th. They issued a “buy” rating and a $6.00 target price on the stock. The Goldman Sachs Group upped their price objective on shares of Erasca from $3.00 to $3.50 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, HC Wainwright reissued a “buy” rating and set a $6.00 target price on shares of Erasca in a research note on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.08.

Erasca Trading Up 3.8 %

Shares of NASDAQ ERAS opened at $2.70 on Monday. The firm has a 50-day moving average of $2.75 and a two-hundred day moving average of $2.64. The company has a market capitalization of $763.36 million, a price-to-earnings ratio of -3.25 and a beta of 1.16. Erasca, Inc. has a twelve month low of $1.51 and a twelve month high of $3.45.

Erasca (NASDAQ:ERAS) last issued its earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.06. As a group, research analysts predict that Erasca, Inc. will post -0.76 earnings per share for the current year.

Erasca Company 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.