American Century Companies Inc. Lowers Position in Erasca, Inc. $ERAS

American Century Companies Inc. decreased its position in Erasca, Inc. (NASDAQ:ERAS - Free Report) by 56.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 158,081 shares of the company's stock after selling 205,490 shares during the period. American Century Companies Inc. owned about 0.06% of Erasca worth $217,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Mackenzie Financial Corp purchased a new stake in shares of Erasca during the fourth quarter worth $28,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Erasca during the first quarter worth $39,000. Brevan Howard Capital Management LP purchased a new stake in shares of Erasca during the fourth quarter worth $41,000. Cerity Partners LLC bought a new position in shares of Erasca in the first quarter worth $49,000. Finally, CWM LLC increased its holdings in shares of Erasca by 1,907.2% in the first quarter. CWM LLC now owns 36,250 shares of the company's stock worth $50,000 after purchasing an additional 34,444 shares during the period. Hedge funds and other institutional investors own 67.78% of the company's stock.

Erasca Stock Up 5.5%

Shares of Erasca stock traded up $0.09 during trading on Thursday, reaching $1.64. 609,074 shares of the stock were exchanged, compared to its average volume of 1,350,186. The stock's fifty day moving average is $1.53 and its 200 day moving average is $1.42. The firm has a market cap of $463.80 million, a price-to-earnings ratio of -3.63 and a beta of 1.08. Erasca, Inc. has a 1 year low of $1.01 and a 1 year high of $3.31.

Erasca (NASDAQ:ERAS - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported ($0.12) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.12). Equities analysts forecast that Erasca, Inc. will post -0.73 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ERAS shares. Morgan Stanley reaffirmed an "equal weight" rating and issued a $2.00 price target (down previously from $4.00) on shares of Erasca in a report on Monday, August 18th. Bank of America reaffirmed an "underperform" rating and issued a $1.00 price target (down previously from $4.00) on shares of Erasca in a report on Wednesday, September 3rd. Wall Street Zen raised Erasca from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. Finally, Guggenheim set a $3.00 price target on shares of Erasca and gave the company a "buy" rating in a research report on Wednesday, May 14th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Erasca has a consensus rating of "Moderate Buy" and an average target price of $3.71.

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.