Erasca (NASDAQ:ERAS) General Counsel Ebun Garner Sells 120,000 Shares

Erasca, Inc. (NASDAQ:ERAS) General Counsel Ebun Garner sold 120,000 shares of Erasca stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $5.59, for a total transaction of $670,800.00. Following the sale, the general counsel directly owned 25,076 shares in the company, valued at $140,174.84. This trade represents a 82.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Erasca Price Performance

ERAS stock traded up $0.64 during trading on Thursday, reaching $5.81. 19,116,727 shares of the company were exchanged, compared to its average volume of 4,493,658. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of -12.91 and a beta of 1.15. The company has a 50-day moving average of $3.19 and a two-hundred day moving average of $2.25. Erasca, Inc. has a twelve month low of $1.01 and a twelve month high of $6.49.

Erasca (NASDAQ:ERAS) last posted its earnings results on Wednesday, November 12th. The company reported ($0.11) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.11). On average, analysts forecast that Erasca, Inc. will post -0.73 EPS for the current year.

Hedge Funds Weigh In On Erasca

A number of hedge funds and other institutional investors have recently made changes to their positions in ERAS. BNP Paribas Financial Markets increased its position in Erasca by 58.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 21,579 shares of the company’s stock valued at $27,000 after purchasing an additional 7,923 shares during the period. EP Wealth Advisors LLC acquired a new stake in Erasca during the second quarter worth approximately $29,000. Russell Investments Group Ltd. bought a new stake in Erasca in the third quarter worth approximately $31,000. SG Americas Securities LLC bought a new stake in Erasca in the third quarter worth approximately $32,000. Finally, Crowley Wealth Management Inc. acquired a new position in Erasca in the third quarter valued at approximately $33,000. 67.78% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Erasca

Here are the key news stories impacting Erasca this week:

• Positive Sentiment: Piper Sandler initiated coverage of Erasca with an “overweight” rating — a fresh buy-side analyst view that can attract investor interest and buying pressure. Piper Sandler initiates coverage of Erasca (ERAS) with overweight recommendation
• Neutral Sentiment: Multiple LULD (Limit Up/Limit Down) trading halts on Jan 7 and Jan 8 indicate elevated intraday volatility and rapid price moves; halts are market-protection events that can amplify volume and short-term swings but don’t by themselves change fundamentals.
• Neutral Sentiment: Sector noise: a takeover rumor involving Revolution Medicines/AbbVie lifted biotech risk appetite today and likely spilled over into peer names, including Erasca, helping lift the stock. Revolution Medicines jumps on report AbbVie nears takeover
• Negative Sentiment: Insider selling: General Counsel Ebun Garner sold 120,000 shares at an average $5.59 (disclosed in an SEC filing), cutting her direct ownership by ~82.7% — a sizable insider sale that can weigh on investor confidence. SEC ownership filing

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ERAS shares. Guggenheim upped their target price on Erasca from $3.00 to $5.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Stifel Nicolaus set a $6.00 price target on Erasca in a report on Thursday, November 6th. Piper Sandler started coverage on shares of Erasca in a report on Wednesday. They issued an “overweight” rating and a $5.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Erasca in a research report on Wednesday, October 8th. Finally, Mizuho boosted their target price on shares of Erasca from $4.00 to $5.00 and gave the stock an “outperform” rating in a report on Tuesday, December 9th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $4.44.

About Erasca

Erasca, Inc is a clinical‐stage biopharmaceutical company dedicated to the discovery and development of precision medicines for patients with cancer. The company focuses on small molecule therapeutics that target critical signaling pathways involved in tumor growth and survival, with a primary emphasis on inhibitors of the MAPK pathway. Erasca’s approach is designed to deliver oral, targeted therapies that address both oncogene‐driven and immuno‐oncology indications, aiming to improve outcomes for patients with unmet medical needs.

Erasca’s pipeline comprises multiple development candidates, including small molecule inhibitors engineered to disrupt key nodes in cancer cell signaling.