JPMorgan Chase & Co. Trims Holdings in Erasca, Inc. (NASDAQ:ERAS)

JPMorgan Chase & Co. trimmed its position in shares of Erasca, Inc. (NASDAQ:ERAS - Free Report) by 27.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,474,585 shares of the company's stock after selling 549,929 shares during the period. JPMorgan Chase & Co. owned 0.52% of Erasca worth $3,701,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ERAS. Barclays PLC raised its holdings in Erasca by 627.5% during the third quarter. Barclays PLC now owns 343,930 shares of the company's stock valued at $939,000 after acquiring an additional 296,657 shares during the period. Geode Capital Management LLC lifted its holdings in Erasca by 36.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,502,698 shares of the company's stock worth $12,295,000 after purchasing an additional 1,190,807 shares in the last quarter. State Street Corp boosted its stake in Erasca by 145.2% in the 3rd quarter. State Street Corp now owns 6,027,620 shares of the company's stock worth $16,455,000 after purchasing an additional 3,569,440 shares during the period. Franklin Resources Inc. purchased a new stake in Erasca during the 3rd quarter valued at approximately $181,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Erasca by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,762,696 shares of the company's stock valued at $4,424,000 after buying an additional 39,066 shares during the last quarter. Hedge funds and other institutional investors own 67.78% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ERAS. Bank of America raised shares of Erasca from a "neutral" rating to a "buy" rating and set a $5.00 target price for the company in a research note on Tuesday, January 7th. HC Wainwright reiterated a "buy" rating and issued a $6.00 target price on shares of Erasca in a research report on Friday, March 21st. The Goldman Sachs Group cut their price target on Erasca from $3.50 to $3.00 and set a "buy" rating for the company in a report on Friday, March 21st. Morgan Stanley reaffirmed an "overweight" rating and set a $4.00 price objective on shares of Erasca in a report on Friday, March 7th. Finally, Raymond James started coverage on shares of Erasca in a research report on Wednesday, March 26th. They issued an "outperform" rating and a $5.00 price target on the stock. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $4.83.

Erasca Trading Down 1.8 %

NASDAQ:ERAS traded down $0.03 during midday trading on Thursday, hitting $1.40. 300,893 shares of the company traded hands, compared to its average volume of 1,845,884. The firm has a market capitalization of $395.16 million, a P/E ratio of -1.67 and a beta of 1.14. The firm's fifty day moving average is $1.36 and its 200-day moving average is $2.11. Erasca, Inc. has a 12-month low of $1.01 and a 12-month high of $3.45.

Erasca (NASDAQ:ERAS - Get Free Report) last announced its earnings results on Thursday, March 20th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.01. During the same quarter in the previous year, the company posted ($0.20) earnings per share. On average, research analysts expect that Erasca, Inc. will post -0.73 EPS for the current fiscal year.

About Erasca

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.