JPMorgan Chase & Co. Has $2.77 Million Stock Holdings in Erasca, Inc. $ERAS

Key Points

• JPMorgan Chase & Co. trimmed its stake in Erasca by 7.5% in Q3, selling 103,527 shares and now owns 1,269,042 shares (about 0.45% of the company) valued at roughly $2.77 million.
• Insider selling has been significant recently: Ebun Garner sold 80,000 shares under a Rule 10b5-1 plan for $1.312 million, and insiders sold 220,000 shares worth $2.28 million over the last quarter (insiders now own 14.4%).
• Analyst sentiment is broadly positive with a consensus rating of "Moderate Buy" and an average target of $16.63, while several firms have raised targets to $19–$20; shares trade near $17.81 with a $5.54 billion market cap and a 52-week range of $1.01–$18.18.

JPMorgan Chase & Co. trimmed its stake in shares of Erasca, Inc. (NASDAQ:ERAS - Free Report) by 7.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,269,042 shares of the company's stock after selling 103,527 shares during the period. JPMorgan Chase & Co. owned about 0.45% of Erasca worth $2,767,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. BNP Paribas Financial Markets raised its holdings in Erasca by 58.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 21,579 shares of the company's stock worth $27,000 after buying an additional 7,923 shares during the period. EP Wealth Advisors LLC acquired a new position in shares of Erasca in the second quarter worth about $29,000. Russell Investments Group Ltd. purchased a new position in shares of Erasca in the third quarter worth approximately $31,000. SG Americas Securities LLC acquired a new stake in shares of Erasca during the third quarter valued at approximately $32,000. Finally, Crowley Wealth Management Inc. acquired a new stake in shares of Erasca during the third quarter valued at approximately $33,000. Institutional investors and hedge funds own 67.78% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on ERAS. Stifel Nicolaus set a $20.00 price objective on shares of Erasca in a research note on Tuesday, March 10th. Mizuho boosted their target price on shares of Erasca from $16.00 to $19.00 and gave the company an "outperform" rating in a research note on Friday, March 13th. Citigroup restated a "buy" rating on shares of Erasca in a report on Friday, March 13th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Erasca in a report on Thursday, January 22nd. Finally, HC Wainwright upped their price target on Erasca from $15.00 to $20.00 and gave the company a "buy" rating in a research report on Friday, March 13th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $16.63.

Insider Buying and Selling at Erasca

In other Erasca news, insider Ebun Garner sold 80,000 shares of the business's stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $16.40, for a total value of $1,312,000.00. Following the transaction, the insider owned 25,076 shares in the company, valued at $411,246.40. The trade was a 76.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Shannon Morris sold 20,000 shares of the company's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $15.04, for a total value of $300,800.00. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 220,000 shares of company stock valued at $2,283,600. 14.40% of the stock is owned by corporate insiders.

Erasca Stock Performance

Shares of ERAS opened at $17.81 on Monday. The company has a market capitalization of $5.54 billion, a PE ratio of -40.48 and a beta of 1.04. The company's 50 day moving average price is $13.51 and its 200 day moving average price is $7.06. Erasca, Inc. has a 52 week low of $1.01 and a 52 week high of $18.18.

Erasca (NASDAQ:ERAS - Get Free Report) last released its earnings results on Thursday, March 19th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.11) by $0.01. On average, equities analysts forecast that Erasca, Inc. will post -0.73 earnings per share for the current fiscal year.

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.

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