Seven Fleet Capital Management LP Invests $3.60 Million in Erasca, Inc. $ERAS

Key Points

• Seven Fleet Capital Management initiated a $3.6 million position in Erasca, purchasing 222,468 shares, or approximately 0.07% of the company. Institutional investors collectively own 67.78% of Erasca.
• Erasca faces pending securities-class-action litigation alleging investors were misled about ERAS-0015’s competitive advantages, safety profile and intellectual-property protection; the allegations remain unproven.
• Analysts maintain a consensus “Moderate Buy” rating with a $21.64 price target, although Erasca recently missed quarterly EPS estimates, reporting a loss of $0.60 per share versus the expected $0.12 loss.

Seven Fleet Capital Management LP bought a new stake in shares of Erasca, Inc. (NASDAQ:ERAS - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 222,468 shares of the company's stock, valued at approximately $3,600,000. Erasca accounts for about 1.1% of Seven Fleet Capital Management LP's holdings, making the stock its 21st largest holding. Seven Fleet Capital Management LP owned 0.07% of Erasca as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ERAS. BNP Paribas Financial Markets boosted its holdings in Erasca by 58.0% in the second quarter. BNP Paribas Financial Markets now owns 21,579 shares of the company's stock valued at $27,000 after acquiring an additional 7,923 shares in the last quarter. EP Wealth Advisors LLC bought a new position in Erasca in the 2nd quarter worth $29,000. Russell Investments Group Ltd. bought a new position in Erasca in the 3rd quarter worth $31,000. EntryPoint Capital LLC purchased a new stake in shares of Erasca in the 4th quarter worth about $38,000. Finally, Stifel Financial Corp purchased a new stake in shares of Erasca in the 4th quarter worth about $38,000. Institutional investors own 67.78% of the company's stock.

More Erasca News

Here are the key news stories impacting Erasca this week:

• Neutral Sentiment: Multiple law firms reminded investors that August 10, 2026 is the deadline to seek appointment as lead plaintiff in a securities class action covering purchases of Erasca shares from January 14, 2025, through April 26, 2026. These announcements are largely investor-solicitation notices rather than separate new lawsuits. Bronstein Gewirtz Grossman class action announcement
• Negative Sentiment: The pending class action alleges that Erasca and certain senior executives misled investors about ERAS-0015’s competitive advantages, safety profile and intellectual-property protection. The allegations reportedly include claims that investors were given an overly favorable view of the program while the company raised approximately $258.8 million. Hagens Berman Erasca investigation
• Negative Sentiment: The litigation creates legal, financial and reputational risks for Erasca (ERAS), while potentially increasing investor uncertainty around ERAS-0015’s development prospects and commercial opportunity. The provided reports do not indicate a new company response or court finding, and the allegations have not been proven. Hagens Berman patent and safety risks announcement

Analyst Ratings Changes

ERAS has been the topic of several research analyst reports. Mizuho reduced their price target on shares of Erasca from $28.00 to $26.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 12th. Wolfe Research set a $16.00 price objective on shares of Erasca in a report on Thursday, June 4th. HSBC set a $20.00 price objective on Erasca in a research report on Tuesday, July 14th. Stifel Nicolaus upped their target price on Erasca from $20.00 to $30.00 and gave the stock a "buy" rating in a report on Monday, April 27th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Erasca in a research report on Thursday, June 11th. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.64.

Erasca Price Performance

NASDAQ:ERAS opened at $18.15 on Friday. The firm's 50-day moving average price is $16.18 and its 200-day moving average price is $14.38. The company has a market capitalization of $5.64 billion, a PE ratio of -19.52 and a beta of 0.66. 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 issued its quarterly earnings results on Monday, May 11th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.48). Equities analysts anticipate that Erasca, Inc. will post -0.54 EPS for the current fiscal year.

Erasca 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.

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