Erasca, Inc. (NASDAQ:ERAS) Shares Sold by Marshall Wace LLP

Marshall Wace LLP cut its position in shares of Erasca, Inc. (NASDAQ:ERAS - Free Report) by 33.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,027,027 shares of the company's stock after selling 1,000,700 shares during the period. Marshall Wace LLP owned 0.72% of Erasca worth $5,088,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in ERAS. Geode Capital Management LLC boosted its holdings in Erasca by 36.0% during the third quarter. Geode Capital Management LLC now owns 4,502,698 shares of the company's stock worth $12,295,000 after buying an additional 1,190,807 shares in the last quarter. Wellington Management Group LLP purchased a new position in Erasca during the fourth quarter valued at $1,169,000. Barclays PLC lifted its holdings in Erasca by 627.5% during the third quarter. Barclays PLC now owns 343,930 shares of the company's stock valued at $939,000 after purchasing an additional 296,657 shares in the last quarter. IPG Investment Advisors LLC purchased a new position in Erasca during the fourth quarter valued at $427,000. Finally, American Century Companies Inc. lifted its holdings in Erasca by 27.9% during the fourth quarter. American Century Companies Inc. now owns 363,571 shares of the company's stock valued at $913,000 after purchasing an additional 79,365 shares in the last quarter. 67.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. The Goldman Sachs Group decreased their price objective on shares of Erasca from $3.50 to $3.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Raymond James assumed coverage on shares of Erasca in a report on Wednesday, March 26th. They set an "outperform" rating and a $5.00 price objective on the stock. Morgan Stanley reaffirmed an "overweight" rating and set a $4.00 price objective on shares of Erasca in a report on Friday, March 7th. Bank of America raised shares of Erasca from a "neutral" rating to a "buy" rating and set a $5.00 price objective on the stock in a report on Tuesday, January 7th. Finally, HC Wainwright reissued a "buy" rating and issued a $6.00 price target on shares of Erasca in a research note on Wednesday. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Erasca presently has an average rating of "Buy" and a consensus price target of $4.83.

Erasca Stock Performance

Shares of NASDAQ:ERAS traded up $0.03 during midday trading on Wednesday, hitting $1.46. The company's stock had a trading volume of 739,620 shares, compared to its average volume of 1,869,255. The business's 50 day simple moving average is $1.35 and its 200 day simple moving average is $2.07. The company has a market cap of $413.57 million, a P/E ratio of -1.76 and a beta of 1.14. Erasca, Inc. has a 12-month low of $1.01 and a 12-month high of $3.45.

Erasca (NASDAQ:ERAS - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.01. During the same quarter last year, the firm earned ($0.20) EPS. On average, sell-side analysts predict that Erasca, Inc. will post -0.73 earnings per share for the current fiscal year.

Erasca 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.