Janus Henderson Group PLC Has $11.20 Million Stake in Erasca, Inc. (NASDAQ:ERAS)

Janus Henderson Group PLC lowered its holdings in shares of Erasca, Inc. (NASDAQ:ERAS) by 49.7% during the third quarter, Holdings Channel reports. The institutional investor owned 4,109,548 shares of the company’s stock after selling 4,068,544 shares during the quarter. Janus Henderson Group PLC’s holdings in Erasca were worth $11,199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. PFM Health Sciences LP boosted its position in shares of Erasca by 4.4% during the 3rd quarter. PFM Health Sciences LP now owns 4,876,911 shares of the company’s stock valued at $13,314,000 after acquiring an additional 205,137 shares in the last quarter. Fred Alger Management LLC bought a new position in Erasca during the third quarter worth about $630,000. Verition Fund Management LLC boosted its holdings in Erasca by 649.6% during the third quarter. Verition Fund Management LLC now owns 169,460 shares of the company’s stock valued at $463,000 after purchasing an additional 146,854 shares in the last quarter. Walleye Capital LLC grew its stake in shares of Erasca by 41.3% in the 3rd quarter. Walleye Capital LLC now owns 949,557 shares of the company’s stock valued at $2,592,000 after purchasing an additional 277,438 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Erasca in the 3rd quarter worth approximately $994,000. Institutional investors own 67.78% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 price target on shares of Erasca in a research note on Wednesday, November 13th. Jefferies Financial Group initiated coverage on shares of Erasca in a research note on Monday, November 18th. They issued a “buy” rating and a $6.00 target price on the stock. Finally, The Goldman Sachs Group increased 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. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Erasca has an average rating of “Moderate Buy” and a consensus target price of $5.90.

Erasca Stock Performance

Shares of ERAS opened at $3.03 on Monday. The company has a market cap of $856.67 million, a price-to-earnings ratio of -3.65 and a beta of 1.20. The stock has a fifty day moving average price of $2.78 and a two-hundred day moving average price of $2.71. Erasca, Inc. has a 52-week low of $1.64 and a 52-week high of $3.45.

Erasca (NASDAQ:ERAS) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.06. As a group, research analysts predict that Erasca, Inc. will post -0.73 EPS for the current fiscal 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.