Janus Henderson Group PLC Reduces Stock Position in Erasca, Inc. (NASDAQ:ERAS)

Janus Henderson Group PLC decreased its stake in Erasca, Inc. (NASDAQ:ERAS - Free Report) by 98.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,200 shares of the company's stock after selling 4,036,348 shares during the period. Janus Henderson Group PLC's holdings in Erasca were worth $184,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its stake in shares of Erasca by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,762,696 shares of the company's stock valued at $4,424,000 after acquiring an additional 39,066 shares in the last quarter. Rhumbline Advisers increased its stake in Erasca by 5.4% in the fourth quarter. Rhumbline Advisers now owns 223,888 shares of the company's stock valued at $562,000 after purchasing an additional 11,400 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Erasca by 6.9% during the fourth quarter. Bank of New York Mellon Corp now owns 544,819 shares of the company's stock valued at $1,367,000 after purchasing an additional 35,268 shares during the period. Wellington Management Group LLP bought a new position in shares of Erasca during the 4th quarter worth about $1,169,000. Finally, Barclays PLC boosted its position in shares of Erasca by 9.8% during the 4th quarter. Barclays PLC now owns 377,764 shares of the company's stock worth $948,000 after purchasing an additional 33,834 shares in the last quarter. 67.78% of the stock is currently owned by institutional investors.

Erasca Price Performance

Shares of NASDAQ:ERAS traded down $0.04 during trading on Friday, hitting $1.42. 367,418 shares of the company were exchanged, compared to its average volume of 1,723,357. The stock has a 50 day moving average of $1.29 and a 200 day moving average of $1.85. The company has a market cap of $400.85 million, a PE ratio of -1.70 and a beta of 1.12. Erasca, Inc. has a 52-week low of $1.01 and a 52-week high of $3.45.

Erasca (NASDAQ:ERAS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.01. Sell-side analysts forecast that Erasca, Inc. will post -0.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ERAS shares. The Goldman Sachs Group decreased their price objective on Erasca from $3.50 to $3.00 and set a "buy" rating for the company in a report on Friday, March 21st. Morgan Stanley reaffirmed an "overweight" rating and issued a $4.00 price objective on shares of Erasca in a research note on Friday, March 7th. Raymond James initiated coverage on shares of Erasca in a research report on Wednesday, March 26th. They set an "outperform" rating and a $5.00 target price for the company. HC Wainwright reiterated a "buy" rating and set a $6.00 price target on shares of Erasca in a research note on Wednesday, April 30th. Finally, Guggenheim set a $3.00 target price on Erasca and gave the company a "buy" rating in a report on Wednesday, May 14th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $4.57.

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.