81,900 Shares in Erasca, Inc. $ERAS Acquired by Handelsbanken Fonder AB

Key Points

• Handelsbanken Fonder AB acquired 81,900 Erasca shares during the second quarter, valued at approximately $1.5 million. Institutional investors collectively own 67.78% of ERAS.
• Erasca shares opened at $18.28, while the company’s latest quarterly loss of $0.14 per share was wider than analysts’ expected loss of $0.11.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $22.09, despite ratings ranging from Sell to Buy.

Handelsbanken Fonder AB bought a new position in shares of Erasca, Inc. (NASDAQ:ERAS - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 81,900 shares of the company's stock, valued at approximately $1,500,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ERAS. VR Adviser LLC increased its position in shares of Erasca by 10.1% during the second quarter. VR Adviser LLC now owns 17,857,083 shares of the company's stock worth $22,678,000 after acquiring an additional 1,640,867 shares during the period. Paradigm Biocapital Advisors LP grew its stake in Erasca by 4.4% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 14,159,095 shares of the company's stock worth $52,672,000 after purchasing an additional 599,078 shares in the last quarter. Vanguard Group Inc. grew its stake in Erasca by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 12,811,832 shares of the company's stock worth $27,930,000 after purchasing an additional 116,235 shares in the last quarter. Vivo Capital LLC increased its holdings in Erasca by 31.0% during the 1st quarter. Vivo Capital LLC now owns 12,151,480 shares of the company's stock worth $196,611,000 after purchasing an additional 2,878,052 shares during the period. Finally, Siren L.L.C. increased its holdings in Erasca by 28.4% during the 1st quarter. Siren L.L.C. now owns 11,244,246 shares of the company's stock worth $181,932,000 after purchasing an additional 2,486,997 shares during the period. Hedge funds and other institutional investors own 67.78% of the company's stock.

Erasca Trading Down 0.5%

Shares of NASDAQ:ERAS opened at $18.28 on Tuesday. The company has a market capitalization of $6.39 billion, a PE ratio of -19.24 and a beta of 0.66. Erasca, Inc. has a twelve month low of $1.33 and a twelve month high of $24.28. The firm has a 50 day simple moving average of $17.42 and a 200-day simple moving average of $15.12.

Erasca (NASDAQ:ERAS - Get Free Report) last posted its earnings results on Wednesday, August 12th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.03). As a group, equities research analysts predict that Erasca, Inc. will post -0.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ERAS has been the subject of a number of analyst reports. Wolfe Research set a $16.00 price objective on Erasca in a research report on Thursday, June 4th. Mizuho reduced their target price on shares of Erasca from $28.00 to $26.00 and set an "outperform" rating on the stock in a report on Tuesday, May 12th. Wall Street Zen downgraded shares of Erasca from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. Guggenheim boosted their price target on shares of Erasca from $20.00 to $21.00 and gave the stock a "buy" rating in a report on Thursday. Finally, HSBC set a $20.00 price objective on shares of Erasca in a research report on Tuesday, July 14th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $22.09.

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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