ARCH Venture Management LLC Buys New Position in Erasca, Inc. $ERAS

ARCH Venture Management LLC bought a new position in shares of Erasca, Inc. (NASDAQ:ERAS - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,091,557 shares of the company's stock, valued at approximately $129,917,324. Erasca accounts for approximately 0.0% of ARCH Venture Management LLC's portfolio, making the stock its 5th largest holding. ARCH Venture Management LLC owned approximately 2.03% of Erasca at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ERAS. BNP Paribas Financial Markets boosted its position in shares of 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 in the last quarter. EP Wealth Advisors LLC bought a new stake in shares of Erasca in the 2nd quarter worth approximately $29,000. Russell Investments Group Ltd. acquired a new stake in Erasca during the third quarter valued at approximately $31,000. Allworth Financial LP acquired a new stake in Erasca during the second quarter valued at approximately $34,000. Finally, EntryPoint Capital LLC bought a new stake in Erasca during the fourth quarter worth approximately $38,000. 67.78% of the stock is currently owned by institutional investors.

Erasca Price Performance

ERAS stock opened at $18.03 on Friday. The firm has a market capitalization of $6.31 billion, a P/E ratio of -18.98 and a beta of 0.66. Erasca, Inc. has a 52-week low of $1.33 and a 52-week high of $24.28. The company's 50 day simple moving average is $18.20 and its 200-day simple moving average is $15.54.

Erasca (NASDAQ:ERAS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.03). Sell-side analysts predict that Erasca, Inc. will post -0.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ERAS shares. Wolfe Research set a $16.00 price target on shares of Erasca in a research report on Thursday, June 4th. Mizuho reduced their price objective on Erasca from $28.00 to $26.00 and set an "outperform" rating for the company in a research note on Tuesday, May 12th. HC Wainwright lifted their target price on Erasca from $18.00 to $22.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. Guggenheim boosted their target price on Erasca from $20.00 to $21.00 and gave the stock a "buy" rating in a research report on Thursday, August 13th. Finally, HSBC set a $20.00 target price on Erasca in a report on Tuesday, July 14th. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Erasca presently has a consensus rating of "Moderate Buy" and a consensus target price 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.