Vanguard Group Inc. Has $31.81 Million Stock Holdings in Erasca, Inc. (NASDAQ:ERAS)

Vanguard Group Inc. cut its stake in shares of Erasca, Inc. (NASDAQ:ERAS) by 4.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,673,900 shares of the company’s stock after selling 614,840 shares during the quarter. Vanguard Group Inc.’s holdings in Erasca were worth $31,811,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its holdings in shares of Erasca by 41.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 67,661 shares of the company’s stock worth $185,000 after buying an additional 19,800 shares in the last quarter. FMR LLC lifted its position in shares of Erasca by 32.8% during the 3rd quarter. FMR LLC now owns 306,129 shares of the company’s stock worth $836,000 after buying an additional 75,642 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Erasca in the 3rd quarter valued at $994,000. State Street Corp increased its holdings in Erasca by 145.2% during the third quarter. State Street Corp now owns 6,027,620 shares of the company’s stock worth $16,455,000 after buying an additional 3,569,440 shares during the last quarter. Finally, Barclays PLC raised its holdings in shares of Erasca by 627.5% in the 3rd quarter. Barclays PLC now owns 343,930 shares of the company’s stock worth $939,000 after purchasing an additional 296,657 shares during the period. Institutional investors and hedge funds own 67.78% of the company’s stock.

Erasca Price Performance

Shares of ERAS opened at $1.24 on Monday. The company has a 50-day simple moving average of $1.42 and a two-hundred day simple moving average of $2.17. The firm has a market capitalization of $351.25 million, a PE ratio of -1.49 and a beta of 1.14. Erasca, Inc. has a one year low of $1.01 and a one year high of $3.45.

Erasca (NASDAQ:ERAS) last announced its earnings results on Thursday, March 20th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. During the same quarter in the prior year, the firm posted ($0.20) EPS. Analysts expect that Erasca, Inc. will post -0.73 EPS for the current fiscal year.

Analyst Ratings Changes

ERAS has been the topic of a number of research reports. Raymond James started coverage on Erasca in a research note on Wednesday, March 26th. They issued an “outperform” rating and a $5.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and issued a $6.00 price objective on shares of Erasca in a report on Friday, March 21st. Morgan Stanley reiterated an “overweight” rating and issued a $4.00 target price on shares of Erasca in a research report on Friday, March 7th. The Goldman Sachs Group reduced their price target on Erasca from $3.50 to $3.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Finally, Bank of America upgraded shares of Erasca from a “neutral” rating to a “buy” rating and set a $5.00 target price for the company in a report on Tuesday, January 7th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $4.83.

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.