UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Invests $994,000 in Erasca, Inc. (NASDAQ:ERAS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Erasca, Inc. (NASDAQ:ERAS - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 364,085 shares of the company's stock, valued at approximately $994,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.13% of Erasca as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Federated Hermes Inc. purchased a new stake in shares of Erasca in the second quarter valued at about $31,000. Sei Investments Co. purchased a new stake in shares of Erasca in the second quarter valued at approximately $39,000. Creative Planning raised 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 acquiring an additional 3,737 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Erasca by 82.2% in the second quarter. Victory Capital Management Inc. now owns 21,479 shares of the company's stock valued at $51,000 after acquiring an additional 9,689 shares during the period. Finally, Valence8 US LP purchased a new stake in shares of Erasca during the 3rd quarter worth $128,000. 67.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ERAS shares. Jefferies Financial Group initiated coverage on shares of Erasca in a research report on Monday, November 18th. They set a "buy" rating and a $6.00 target price on the stock. The Goldman Sachs Group lifted their target price 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. Finally, HC Wainwright reiterated a "buy" rating and issued a $6.00 price target on shares of Erasca in a research report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $5.90.

Erasca Price Performance

ERAS stock traded down $0.04 during midday trading on Thursday, hitting $2.45. The stock had a trading volume of 3,748,641 shares, compared to its average volume of 1,610,372. The company's 50-day moving average price is $2.81 and its 200 day moving average price is $2.72. The firm has a market cap of $692.68 million, a PE ratio of -2.95 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 released its earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.06. As a group, sell-side analysts anticipate that Erasca, Inc. will post -0.73 EPS for the current 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.