Erasca, Inc. $ERAS Shares Purchased by Walleye Capital LLC

Walleye Capital LLC boosted its position in Erasca, Inc. (NASDAQ:ERAS) by 55.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 215,220 shares of the company’s stock after acquiring an additional 76,512 shares during the quarter. Walleye Capital LLC owned 0.08% of Erasca worth $295,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ERAS. Mackenzie Financial Corp acquired a new position in Erasca in the fourth quarter valued at $28,000. Wealth Enhancement Advisory Services LLC acquired a new position in Erasca in the first quarter valued at $39,000. Brevan Howard Capital Management LP acquired a new position in Erasca in the fourth quarter valued at $41,000. Cerity Partners LLC acquired a new position in Erasca in the first quarter valued at $49,000. Finally, CWM LLC boosted its holdings in Erasca by 1,907.2% in the first quarter. CWM LLC now owns 36,250 shares of the company’s stock valued at $50,000 after acquiring an additional 34,444 shares during the last quarter. Institutional investors and hedge funds own 67.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ERAS. Guggenheim set a $3.00 target price on Erasca and gave the company a “buy” rating in a report on Wednesday, May 14th. Wall Street Zen raised Erasca from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. Bank of America reissued an “underperform” rating and issued a $1.00 price objective (down from $4.00) on shares of Erasca in a research report on Wednesday. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $2.00 price objective (down from $4.00) on shares of Erasca in a research report on Monday, August 18th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $3.71.

Erasca Stock Performance

Shares of NASDAQ ERAS opened at $1.43 on Thursday. Erasca, Inc. has a 1 year low of $1.01 and a 1 year high of $3.31. The firm has a market cap of $405.65 million, a price-to-earnings ratio of -3.18 and a beta of 1.08. The stock’s 50-day simple moving average is $1.50 and its 200-day simple moving average is $1.42.

Erasca (NASDAQ:ERAS) last announced its earnings results on Tuesday, August 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.12). As a group, research analysts predict that Erasca, Inc. will post -0.73 EPS for the current year.

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.