American Century Companies Inc. Sells 205,490 Shares of Erasca, Inc. $ERAS

American Century Companies Inc. trimmed its position in Erasca, Inc. (NASDAQ:ERAS - Free Report) by 56.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 158,081 shares of the company's stock after selling 205,490 shares during the quarter. American Century Companies Inc. owned approximately 0.06% of Erasca worth $217,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ERAS. Hsbc Holdings PLC lifted its position in shares of Erasca by 57.3% in the fourth quarter. Hsbc Holdings PLC now owns 28,714 shares of the company's stock worth $73,000 after purchasing an additional 10,458 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Erasca by 18.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 70,037 shares of the company's stock worth $176,000 after purchasing an additional 10,899 shares in the last quarter. Mackenzie Financial Corp purchased a new stake in shares of Erasca in the fourth quarter worth approximately $28,000. California State Teachers Retirement System lifted its position in shares of Erasca by 7.1% in the fourth quarter. California State Teachers Retirement System now owns 171,821 shares of the company's stock worth $431,000 after purchasing an additional 11,385 shares in the last quarter. Finally, Palumbo Wealth Management LLC lifted its position in shares of Erasca by 51.5% in the first quarter. Palumbo Wealth Management LLC now owns 43,331 shares of the company's stock worth $59,000 after purchasing an additional 14,731 shares in the last quarter. 67.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ERAS. Wall Street Zen raised shares of Erasca from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. Bank of America reissued an "underperform" rating and issued a $1.00 price target (down from $4.00) on shares of Erasca in a research report on Wednesday, September 3rd. Finally, Morgan Stanley reaffirmed an "equal weight" rating and set a $2.00 price objective (down previously from $4.00) on shares of Erasca in a research report on Monday, August 18th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $3.71.

Erasca Price Performance

ERAS traded down $0.05 during midday trading on Friday, hitting $1.56. 1,006,400 shares of the company's stock traded hands, compared to its average volume of 905,151. The company has a market cap of $442.53 million, a PE ratio of -3.47 and a beta of 1.08. The stock's fifty day simple moving average is $1.54 and its 200-day simple moving average is $1.42. Erasca, Inc. has a one year low of $1.01 and a one year high of $3.31.

Erasca (NASDAQ:ERAS - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.12) earnings per share for the quarter, meeting the consensus estimate of ($0.12). On average, research analysts expect that Erasca, Inc. will post -0.73 EPS for the current year.

Erasca Company Profile

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.