Janus Henderson Group PLC reduced its stake in Erasca, Inc. (NASDAQ:ERAS - Free Report) by 49.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,109,548 shares of the company's stock after selling 4,068,544 shares during the period. Janus Henderson Group PLC owned 1.45% of Erasca worth $11,199,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the stock. Frazier Life Sciences Management L.P. bought a new position in Erasca during the 2nd quarter worth $38,270,000. Logos Global Management LP bought a new position in Erasca during the second quarter worth about $13,924,000. Marshall Wace LLP acquired a new stake in Erasca in the 2nd quarter worth about $8,667,000. Affinity Asset Advisors LLC bought a new stake in Erasca in the 2nd quarter valued at about $5,899,000. Finally, Sofinnova Investments Inc. acquired a new stake in shares of Erasca in the second quarter valued at approximately $4,011,000. 67.78% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of research firms have commented on ERAS. HC Wainwright restated a "buy" rating and set a $6.00 price objective on shares of Erasca in a research note on Wednesday, November 13th. Jefferies Financial Group began coverage on Erasca in a research report on Monday, November 18th. They issued a "buy" rating and a $6.00 price target on the stock. Finally, The Goldman Sachs Group upped their price objective on shares of Erasca from $3.00 to $3.50 and gave the stock a "buy" rating in a research 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. Based on data from MarketBeat.com, Erasca has an average rating of "Moderate Buy" and an average target price of $5.90.
View Our Latest Stock Analysis on Erasca
Erasca Trading Down 1.7 %
NASDAQ:ERAS traded down $0.05 during mid-day trading on Monday, hitting $2.98. 884,515 shares of the company's stock were exchanged, compared to its average volume of 1,610,130. The company has a 50 day simple moving average of $2.79 and a 200-day simple moving average of $2.71. The firm has a market capitalization of $842.54 million, a P/E ratio of -3.59 and a beta of 1.20. Erasca, Inc. has a fifty-two week low of $1.64 and a fifty-two week high of $3.45.
Erasca (NASDAQ:ERAS - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.11) earnings per share for the quarter, beating analysts' consensus estimates of ($0.17) by $0.06. As a group, analysts expect that Erasca, Inc. will post -0.73 earnings per share for the current year.
About Erasca
(
Free Report)
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.
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