Marshall Wace LLP Makes New $8.67 Million Investment in Erasca, Inc. (NASDAQ:ERAS)

Marshall Wace LLP purchased a new position in Erasca, Inc. (NASDAQ:ERAS - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,672,375 shares of the company's stock, valued at approximately $8,667,000. Marshall Wace LLP owned 2.12% of Erasca as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Logos Global Management LP bought a new stake in Erasca during the 2nd quarter valued at about $13,924,000. Sei Investments Co. bought a new stake in shares of Erasca during the second quarter valued at approximately $39,000. Sofinnova Investments Inc. purchased a new stake in shares of Erasca in the 2nd quarter worth $4,011,000. Dimensional Fund Advisors LP grew its position in shares of Erasca by 56.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 500,058 shares of the company's stock worth $1,180,000 after buying an additional 179,797 shares in the last quarter. Finally, Federated Hermes Inc. purchased a new position in shares of Erasca during the second quarter valued at $31,000. 67.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ERAS shares. The Goldman Sachs Group lowered their price objective on shares of Erasca from $4.00 to $3.00 and set a "buy" rating for the company in a research note on Wednesday, August 14th. HC Wainwright upped their price target on shares of Erasca from $5.00 to $6.00 and gave the stock a "buy" rating in a research report on Tuesday, August 13th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $6.00.

Erasca Price Performance

Erasca stock traded up $0.05 during trading hours on Monday, reaching $2.73. The stock had a trading volume of 1,201,136 shares, compared to its average volume of 1,653,671. The company has a market cap of $473.27 million, a price-to-earnings ratio of -3.19 and a beta of 1.16. The business's 50 day moving average price is $2.85 and its 200-day moving average price is $2.45. Erasca, Inc. has a 52 week low of $1.51 and a 52 week high of $3.45.

Erasca (NASDAQ:ERAS - Get Free Report) last posted its earnings results on Monday, August 12th. The company reported ($0.29) EPS for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.12). On average, sell-side analysts forecast that Erasca, Inc. will post -0.91 EPS for the current fiscal 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.