Bank of America Corp DE Raises Position in Erasca, Inc. $ERAS

Key Points

• Bank of America increased its Erasca stake by 89.6% in the first quarter, purchasing 1.44 million additional shares for a total of 3.06 million shares, or 0.98% of the company. Institutional investors collectively own 67.78% of Erasca.
• Erasca shares opened at $18.31, compared with a 52-week range of $1.33 to $24.28. Analysts maintain a consensus “Moderate Buy” rating with a $21.64 price target, although ratings range from Buy to Sell.
• The company reported a quarterly loss of $0.14 per share, missing the $0.11 loss analysts expected. Investors are also monitoring Erasca’s promising ERAS-0015 cancer-drug data alongside potential legal and commercialization risks.

Bank of America Corp DE increased its stake in shares of Erasca, Inc. (NASDAQ:ERAS - Free Report) by 89.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,055,897 shares of the company's stock after buying an additional 1,444,047 shares during the quarter. Bank of America Corp DE owned 0.98% of Erasca worth $49,444,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ERAS. AQR Capital Management LLC increased its position in shares of Erasca by 594.8% during the 1st quarter. AQR Capital Management LLC now owns 396,202 shares of the company's stock valued at $543,000 after purchasing an additional 339,177 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of 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 buying an additional 77,790 shares during the last quarter. Creative Planning boosted its holdings in shares of Erasca by 423.3% in 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 last quarter. New York State Common Retirement Fund grew its position in Erasca by 39.1% during the second quarter. New York State Common Retirement Fund now owns 37,360 shares of the company's stock valued at $47,000 after buying an additional 10,501 shares during the period. Finally, Invesco Ltd. increased its holdings in Erasca by 51.6% during the second quarter. Invesco Ltd. now owns 172,226 shares of the company's stock worth $219,000 after buying an additional 58,643 shares during the last quarter. Institutional investors own 67.78% of the company's stock.

Erasca Price Performance

NASDAQ:ERAS opened at $18.31 on Wednesday. The company has a market capitalization of $5.69 billion, a price-to-earnings ratio of -19.69 and a beta of 0.66. The business has a 50 day moving average of $16.98 and a 200 day moving average of $14.89. Erasca, Inc. has a 1-year low of $1.33 and a 1-year high of $24.28.

Erasca (NASDAQ:ERAS - Get Free Report) last released its earnings results on Tuesday, August 11th. The company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.03). As a group, sell-side analysts anticipate that Erasca, Inc. will post -0.54 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wall Street Zen lowered Erasca from a "hold" rating to a "sell" rating in a research note on Saturday, May 16th. HSBC set a $20.00 price objective on shares of Erasca in a report on Tuesday, July 14th. Morgan Stanley increased their target price on shares of Erasca from $12.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Monday, July 20th. Wolfe Research set a $16.00 price target on shares of Erasca in a research report on Thursday, June 4th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Erasca in a research note on Thursday, June 11th. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.64.

Key Headlines Impacting Erasca

Here are the key news stories impacting Erasca this week:

• Positive Sentiment: Erasca reported updated ERAS-0015 data showing promising monotherapy efficacy in second-line-and-later KRAS G12X pancreatic ductal adenocarcinoma, with continued favorable tolerability. The company also said development of an ERAS-0015/panitumumab combination for colorectal cancer advanced, reinforcing the potential value of its pipeline. Erasca Reports Second Quarter 2026 Business Updates and Financial Results
• Positive Sentiment: The company appointed internationally recognized oncologist Charles S. Fuchs, M.D., M.P.H., as president of research and development. The hire could strengthen clinical strategy and execution as Erasca advances its oncology candidates. Erasca Strengthens R&D Leadership
• Neutral Sentiment: Erasca announced inducement equity grants under Nasdaq Listing Rule 5635(c)(4), primarily intended to recruit or retain employees. The grants may support staffing but could modestly dilute existing shareholders. Erasca Announces Inducement Grants
• Neutral Sentiment: The reported August short-interest entry lists zero shares and a zero-day short-interest ratio, suggesting the data is incomplete or unreliable rather than indicating a meaningful change in investor positioning.
• Negative Sentiment: Erasca reported a quarterly loss of $0.14 per share, missing the consensus estimate of a $0.11 loss. The earnings shortfall may pressure the stock and keeps attention on the company’s cash needs and path toward commercialization.
• Negative Sentiment: Several law firms announced or promoted securities class-action litigation concerning allegations that Erasca misled investors about ERAS-0015’s competitive advantages, safety profile, and intellectual-property protection. The lawsuits could add legal costs, reputational risk, and investor uncertainty, although the allegations have not been proven. Erasca Securities Class-Action Notice

Erasca Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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