Erasca, Inc. (NASDAQ:ERAS) Stock Holdings Increased by Victory Capital Management Inc.

Victory Capital Management Inc. increased its stake in Erasca, Inc. (NASDAQ:ERAS) by 82.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,479 shares of the company’s stock after purchasing an additional 9,689 shares during the period. Victory Capital Management Inc.’s holdings in Erasca were worth $51,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC acquired a new position in Erasca during the 4th quarter valued at about $35,000. Pale Fire Capital SE boosted its stake in shares of Erasca by 342.0% during the 4th quarter. Pale Fire Capital SE now owns 186,101 shares of the company’s stock worth $396,000 after acquiring an additional 144,000 shares in the last quarter. Pennant Investors LP bought a new stake in shares of Erasca during the 4th quarter worth $354,000. Sierra Summit Advisors LLC bought a new position in Erasca in the 4th quarter worth approximately $225,000. Finally, China Universal Asset Management Co. Ltd. increased its holdings in shares of Erasca by 66.1% during 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 during the period. 67.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on ERAS. The Goldman Sachs Group reduced their price objective on shares of Erasca from $4.00 to $3.00 and set a “buy” rating for the company in a report on Wednesday, August 14th. HC Wainwright lifted their price objective on Erasca from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $6.00.

Erasca Trading Down 2.3 %

ERAS stock opened at $2.54 on Wednesday. Erasca, Inc. has a 1-year low of $1.51 and a 1-year high of $3.45. The business’s 50-day moving average price is $2.87 and its two-hundred day moving average price is $2.44. The firm has a market cap of $439.47 million, a PE ratio of -3.02 and a beta of 1.16.

Erasca (NASDAQ:ERAS) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.12). On average, analysts forecast 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.