Barclays PLC Raises Holdings in Erasca, Inc. (NASDAQ:ERAS)

Barclays PLC lifted its holdings in Erasca, Inc. (NASDAQ:ERAS) by 627.5% during the third quarter, Holdings Channel reports. The institutional investor owned 343,930 shares of the company’s stock after purchasing an additional 296,657 shares during the quarter. Barclays PLC’s holdings in Erasca were worth $939,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. State Street Corp lifted its holdings in Erasca by 145.2% in the third quarter. State Street Corp now owns 6,027,620 shares of the company’s stock valued at $16,455,000 after acquiring an additional 3,569,440 shares during the period. PFM Health Sciences LP lifted its stake in shares of Erasca by 4.4% in the third quarter. PFM Health Sciences LP now owns 4,876,911 shares of the company’s stock valued at $13,314,000 after purchasing an additional 205,137 shares during the period. Fred Alger Management LLC acquired a new stake in shares of Erasca in the third quarter valued at about $630,000. Verition Fund Management LLC grew its position in Erasca by 649.6% during the third quarter. Verition Fund Management LLC now owns 169,460 shares of the company’s stock worth $463,000 after buying an additional 146,854 shares during the period. Finally, Walleye Capital LLC grew its position in Erasca by 41.3% during the third quarter. Walleye Capital LLC now owns 949,557 shares of the company’s stock worth $2,592,000 after buying an additional 277,438 shares during the period. Institutional investors and hedge funds own 67.78% of the company’s stock.

Erasca Price Performance

Shares of ERAS opened at $2.55 on Tuesday. The firm has a 50 day simple moving average of $2.78 and a 200-day simple moving average of $2.72. Erasca, Inc. has a 1-year low of $1.64 and a 1-year high of $3.45. The stock has a market cap of $720.95 million, a price-to-earnings ratio of -3.07 and a beta of 1.20.

Erasca (NASDAQ:ERAS) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.06. On average, equities analysts expect that Erasca, Inc. will post -0.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.