Rhumbline Advisers Acquires 33,106 Shares of Erasca, Inc. (NASDAQ:ERAS)

Rhumbline Advisers boosted its holdings in Erasca, Inc. (NASDAQ:ERAS) by 27.2% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 154,615 shares of the company’s stock after acquiring an additional 33,106 shares during the quarter. Rhumbline Advisers’ holdings in Erasca were worth $365,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Edmonds Duncan Registered Investment Advisors LLC increased its stake in Erasca by 41.2% in the 2nd quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 34,280 shares of the company’s stock worth $81,000 after acquiring an additional 10,000 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Erasca by 66.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 29,013 shares of the company’s stock worth $60,000 after purchasing an additional 11,541 shares in the last quarter. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Erasca in the 4th quarter worth about $35,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Erasca in the 1st quarter worth about $216,000. Finally, Sierra Summit Advisors LLC purchased a new position in shares of Erasca in the 4th quarter worth about $225,000. 67.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group cut their price objective on Erasca from $4.00 to $3.00 and set a “buy” rating for the company in a report on Wednesday, August 14th. HC Wainwright increased their target price on Erasca from $5.00 to $6.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Erasca currently has an average rating of “Moderate Buy” and an average target price of $6.00.

Erasca Stock Performance

NASDAQ ERAS opened at $2.68 on Friday. Erasca, Inc. has a fifty-two week low of $1.51 and a fifty-two week high of $3.45. The stock has a 50 day simple moving average of $2.85 and a two-hundred day simple moving average of $2.45. The stock has a market cap of $464.60 million, a P/E ratio of -3.19 and a beta of 1.16.

Erasca (NASDAQ:ERAS) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.12). Sell-side analysts predict that Erasca, Inc. will post -0.91 earnings per share 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.