Walleye Capital LLC Has $2.59 Million Stock Position in Erasca, Inc. (NASDAQ:ERAS)

Walleye Capital LLC lifted its position in shares of Erasca, Inc. (NASDAQ:ERAS - Free Report) by 41.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 949,557 shares of the company's stock after purchasing an additional 277,438 shares during the quarter. Walleye Capital LLC owned 0.34% of Erasca worth $2,592,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ERAS. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Erasca during the 3rd quarter worth about $994,000. MetLife Investment Management LLC grew its stake in Erasca by 51.7% in the 3rd quarter. MetLife Investment Management LLC now owns 103,686 shares of the company's stock valued at $283,000 after buying an additional 35,355 shares during the last quarter. FMR LLC grew its stake in Erasca by 32.8% in the 3rd quarter. FMR LLC now owns 306,129 shares of the company's stock valued at $836,000 after buying an additional 75,642 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Erasca by 41.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 67,661 shares of the company's stock valued at $185,000 after purchasing an additional 19,800 shares during the period. Finally, Valence8 US LP bought a new stake in Erasca in the 3rd quarter valued at about $128,000. 67.78% of the stock is owned by institutional investors.

Erasca Trading Up 2.0 %

NASDAQ:ERAS traded up $0.06 on Wednesday, hitting $3.13. The company had a trading volume of 879,174 shares, compared to its average volume of 1,620,623. The stock has a market capitalization of $884.94 million, a price-to-earnings ratio of -3.69 and a beta of 1.20. The firm has a 50 day moving average of $2.77 and a two-hundred day moving average of $2.69. Erasca, Inc. has a 52 week low of $1.64 and a 52 week high of $3.45.

Erasca (NASDAQ:ERAS - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.06. As a group, equities analysts forecast that Erasca, Inc. will post -0.73 EPS for the current year.

Analyst Upgrades and Downgrades

ERAS has been the subject of a number of recent research reports. The Goldman Sachs Group boosted their price objective on shares of Erasca from $3.00 to $3.50 and gave the company a "buy" rating in a report on Friday, October 25th. Jefferies Financial Group began coverage on shares of Erasca in a report on Monday, November 18th. They set a "buy" rating and a $6.00 price target for the company. Finally, HC Wainwright reaffirmed a "buy" rating and set a $6.00 price target on shares of Erasca in a report on Wednesday, November 13th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $5.90.

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.