Seven Fleet Capital Management LP grew its stake in shares of Erasca, Inc. (NASDAQ:ERAS – Free Report) by 38.5% in the second quarter, Holdings Channel.com reports. The fund owned 308,007 shares of the company’s stock after buying an additional 85,539 shares during the quarter. Erasca comprises about 0.9% of Seven Fleet Capital Management LP’s holdings, making the stock its 24th biggest position. Seven Fleet Capital Management LP’s holdings in Erasca were worth $5,643,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the stock. AQR Capital Management LLC raised its position in shares of Erasca by 594.8% during the first quarter. AQR Capital Management LLC now owns 396,202 shares of the company’s stock worth $543,000 after purchasing an additional 339,177 shares during the period. Geode Capital Management LLC increased its stake in Erasca by 1.6% in the 2nd quarter. Geode Capital Management LLC now owns 4,835,642 shares of the company’s stock worth $6,143,000 after purchasing an additional 77,790 shares in the last quarter. Creative Planning raised its holdings in Erasca by 423.3% during the 2nd quarter. Creative Planning now owns 244,332 shares of the company’s stock worth $310,000 after buying an additional 197,637 shares during the period. New York State Common Retirement Fund raised its holdings in Erasca by 39.1% during the 2nd quarter. New York State Common Retirement Fund now owns 37,360 shares of the company’s stock worth $47,000 after buying an additional 10,501 shares during the period. Finally, Invesco Ltd. lifted its stake in Erasca by 51.6% during the second quarter. Invesco Ltd. now owns 172,226 shares of the company’s stock valued at $219,000 after buying an additional 58,643 shares in the last quarter. 67.78% of the stock is owned by institutional investors.
Erasca Stock Performance
ERAS stock opened at $19.15 on Thursday. The firm has a 50 day simple moving average of $18.00 and a 200 day simple moving average of $15.47. Erasca, Inc. has a 52 week low of $1.33 and a 52 week high of $24.28. The stock has a market cap of $6.70 billion, a P/E ratio of -20.16 and a beta of 0.66.
Analysts Set New Price Targets
Several research analysts have commented on ERAS shares. Wall Street Zen cut shares of Erasca from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Jefferies Financial Group restated a “buy” rating on shares of Erasca in a research report on Tuesday, July 14th. Mizuho lowered their price objective on shares of Erasca from $28.00 to $26.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Erasca in a research report on Thursday, June 11th. Finally, HC Wainwright increased their target price on Erasca from $18.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, August 12th. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.09.
Read Our Latest Stock Report on ERAS
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.
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