Erasca, Inc. (NASDAQ:ERAS) Stock Position Raised by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its holdings in shares of Erasca, Inc. (NASDAQ:ERAS - Free Report) by 29.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,723,630 shares of the company's stock after acquiring an additional 390,209 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.61% of Erasca worth $4,706,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Intech Investment Management LLC acquired a new stake in shares of Erasca during the 3rd quarter worth approximately $173,000. China Universal Asset Management Co. Ltd. increased its position in Erasca by 78.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 54,335 shares of the company's stock worth $148,000 after buying an additional 23,808 shares during the period. Creative Planning increased its position in Erasca by 23.0% in the third quarter. Creative Planning now owns 20,014 shares of the company's stock worth $55,000 after buying an additional 3,737 shares during the period. SG Americas Securities LLC lifted its stake in Erasca by 183.7% in the third quarter. SG Americas Securities LLC now owns 64,946 shares of the company's stock valued at $177,000 after buying an additional 42,056 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. acquired a new position in shares of Erasca during the second quarter valued at $38,270,000. Institutional investors own 67.78% of the company's stock.

Erasca Stock Performance

Shares of ERAS stock traded down $0.07 during midday trading on Friday, reaching $2.56. 1,468,706 shares of the company were exchanged, compared to its average volume of 1,606,314. The company's 50 day moving average price is $2.81 and its two-hundred day moving average price is $2.71. The company has a market cap of $723.78 million, a P/E ratio of -3.08 and a beta of 1.20. Erasca, Inc. has a 12 month low of $1.64 and a 12 month high of $3.45.

Erasca (NASDAQ:ERAS - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.06. As a group, sell-side analysts predict that Erasca, Inc. will post -0.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

ERAS has been the topic of a number of analyst reports. Jefferies Financial Group assumed coverage on shares of Erasca in a report on Monday, November 18th. They issued a "buy" rating and a $6.00 price objective on the stock. HC Wainwright restated a "buy" rating and issued a $6.00 price target on shares of Erasca in a research note on Wednesday, November 13th. Finally, The Goldman Sachs Group lifted their price target on Erasca from $3.00 to $3.50 and gave the company a "buy" rating in a report on Friday, October 25th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $5.90.

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.