Erasca, Inc. (NASDAQ:ERAS) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lessened its holdings in shares of Erasca, Inc. (NASDAQ:ERAS - Free Report) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,673,900 shares of the company's stock after selling 614,840 shares during the period. Vanguard Group Inc. owned 4.48% of Erasca worth $31,811,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ERAS. AXQ Capital LP purchased a new position in Erasca during the fourth quarter worth approximately $27,000. Cibc World Markets Corp purchased a new stake in shares of Erasca in the fourth quarter valued at about $43,000. New York State Common Retirement Fund boosted its holdings in Erasca by 42.4% in the 4th quarter. New York State Common Retirement Fund now owns 26,859 shares of the company's stock valued at $67,000 after purchasing an additional 8,000 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Erasca during the 4th quarter worth approximately $69,000. Finally, Teacher Retirement System of Texas raised its position in shares of Erasca by 29.1% during the 4th quarter. Teacher Retirement System of Texas now owns 54,706 shares of the company's stock valued at $137,000 after buying an additional 12,345 shares during the period. Institutional investors and hedge funds own 67.78% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ERAS shares. Raymond James assumed coverage on Erasca in a research report on Wednesday, March 26th. They issued an "outperform" rating and a $5.00 target price on the stock. The Goldman Sachs Group dropped their price target on shares of Erasca from $3.50 to $3.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Bank of America raised shares of Erasca from a "neutral" rating to a "buy" rating and set a $5.00 price objective for the company in a research report on Tuesday, January 7th. Morgan Stanley restated an "overweight" rating and set a $4.00 price target on shares of Erasca in a research report on Friday, March 7th. Finally, HC Wainwright restated a "buy" rating and set a $6.00 target price on shares of Erasca in a report on Friday, March 21st. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Erasca has a consensus rating of "Buy" and an average target price of $4.83.

Erasca Trading Down 0.9 %

NASDAQ:ERAS traded down $0.01 during midday trading on Friday, reaching $1.16. The company had a trading volume of 952,477 shares, compared to its average volume of 1,829,469. The stock's fifty day simple moving average is $1.38 and its 200-day simple moving average is $2.14. Erasca, Inc. has a 12-month low of $1.01 and a 12-month high of $3.45. The firm has a market capitalization of $328.59 million, a price-to-earnings ratio of -1.40 and a beta of 1.14.

Erasca (NASDAQ:ERAS - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The company reported ($0.11) EPS for the quarter, topping analysts' consensus estimates of ($0.12) by $0.01. During the same period last year, the company earned ($0.20) EPS. As a group, sell-side analysts expect that Erasca, Inc. will post -0.73 EPS for the current 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.