Erasca, Inc. (NASDAQ:ERAS) Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC increased its holdings in shares of Erasca, Inc. (NASDAQ:ERAS) by 24.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,912 shares of the company’s stock after purchasing an additional 9,391 shares during the period. SG Americas Securities LLC’s holdings in Erasca were worth $102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. GSA Capital Partners LLP boosted its stake in shares of Erasca by 57.4% in the third quarter. GSA Capital Partners LLP now owns 404,082 shares of the company’s stock worth $796,000 after buying an additional 147,411 shares during the last quarter. Barclays PLC boosted its holdings in Erasca by 14.0% during the third quarter. Barclays PLC now owns 42,928 shares of the company’s stock worth $85,000 after buying an additional 5,281 shares in the last quarter. Exchange Traded Concepts LLC grew its position in Erasca by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 54,339 shares of the company’s stock valued at $116,000 after buying an additional 13,779 shares during the period. Swiss National Bank increased its holdings in Erasca by 11.2% in the third quarter. Swiss National Bank now owns 182,300 shares of the company’s stock valued at $359,000 after buying an additional 18,400 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Erasca by 207.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,421 shares of the company’s stock worth $68,000 after acquiring an additional 23,228 shares during the period. 67.78% of the stock is currently owned by institutional investors and hedge funds.

Erasca Stock Performance

Shares of ERAS stock opened at $1.79 on Friday. Erasca, Inc. has a fifty-two week low of $1.51 and a fifty-two week high of $3.38. The stock’s fifty day moving average is $2.11 and its two-hundred day moving average is $2.06. The firm has a market capitalization of $271.17 million, a P/E ratio of -2.16 and a beta of 1.10.

Erasca (NASDAQ:ERAS) last issued its earnings results on Wednesday, March 27th. The company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.04. On average, equities analysts forecast that Erasca, Inc. will post -0.96 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ERAS. Capital One Financial reaffirmed an “overweight” rating and issued a $8.00 price target on shares of Erasca in a report on Monday, March 11th. Bank of America lowered Erasca from a “buy” rating to a “neutral” rating and decreased their target price for the company from $11.00 to $6.00 in a research report on Friday, January 5th. HC Wainwright restated a “buy” rating and set a $8.00 price objective on shares of Erasca in a research report on Thursday, March 28th. Finally, The Goldman Sachs Group lifted their target price on shares of Erasca from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $7.83.

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.