Erasca, Inc. (NASDAQ:ERAS) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its position in Erasca, Inc. (NASDAQ:ERAS) by 56.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 500,058 shares of the company’s stock after acquiring an additional 179,797 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Erasca were worth $1,180,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Federated Hermes Inc. acquired a new stake in Erasca in the second quarter valued at approximately $31,000. Victory Capital Management Inc. grew its position in 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 acquiring an additional 9,689 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in Erasca by 66.1% in the first quarter. China Universal Asset Management Co. Ltd. now owns 29,013 shares of the company’s stock valued at $60,000 after acquiring an additional 11,541 shares in the last quarter. Edmonds Duncan Registered Investment Advisors LLC grew its position in Erasca by 41.2% in the second quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 34,280 shares of the company’s stock valued at $81,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Erasca in the first quarter valued at approximately $216,000. Institutional investors and hedge funds own 67.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ERAS. The Goldman Sachs Group reduced their target price on Erasca from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th. HC Wainwright increased their target price on Erasca from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $6.00.

Erasca Price Performance

Shares of ERAS opened at $2.75 on Friday. The business’s fifty day moving average price is $2.73 and its 200 day moving average price is $2.48. Erasca, Inc. has a 12-month low of $1.51 and a 12-month high of $3.45. The stock has a market capitalization of $476.74 million, a PE ratio of -3.27 and a beta of 1.16.

Erasca (NASDAQ:ERAS) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.12). As a group, research analysts anticipate that Erasca, Inc. will post -0.91 earnings per share for the current fiscal 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.