Vanguard Group Inc. Has $31.81 Million Stake in Erasca, Inc. (NASDAQ:ERAS)

Vanguard Group Inc. lowered its holdings in shares of Erasca, Inc. (NASDAQ:ERAS - Free Report) by 4.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,673,900 shares of the company's stock after selling 614,840 shares during the period. Vanguard Group Inc. owned approximately 4.48% of Erasca worth $31,811,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its stake in shares of Erasca by 41.4% during the third quarter. The Manufacturers Life Insurance Company now owns 67,661 shares of the company's stock valued at $185,000 after purchasing an additional 19,800 shares in the last quarter. FMR LLC increased its stake in shares of Erasca by 32.8% during the third quarter. FMR LLC now owns 306,129 shares of the company's stock valued at $836,000 after acquiring an additional 75,642 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Erasca during the 3rd quarter valued at $994,000. State Street Corp increased its position in shares of Erasca by 145.2% during the 3rd quarter. State Street Corp now owns 6,027,620 shares of the company's stock valued at $16,455,000 after purchasing an additional 3,569,440 shares during the period. Finally, Barclays PLC raised its stake in shares of Erasca by 627.5% in the 3rd quarter. Barclays PLC now owns 343,930 shares of the company's stock worth $939,000 after buying an additional 296,657 shares in the last quarter. Institutional investors and hedge funds own 67.78% of the company's stock.

Erasca Trading Down 0.9 %

NASDAQ:ERAS traded down $0.01 on Friday, hitting $1.16. 952,477 shares of the company's stock traded hands, compared to its average volume of 1,834,183. The company has a market cap of $328.59 million, a PE ratio of -1.40 and a beta of 1.14. Erasca, Inc. has a 1 year low of $1.01 and a 1 year high of $3.45. The firm has a 50-day moving average price of $1.37 and a 200-day moving average price of $2.13.

Erasca (NASDAQ:ERAS - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The company reported ($0.11) EPS for the quarter, beating analysts' consensus estimates of ($0.12) by $0.01. During the same quarter in the previous year, the company earned ($0.20) EPS. On average, research analysts forecast that Erasca, Inc. will post -0.73 EPS for the current fiscal year.

Analysts Set New Price Targets

ERAS has been the topic of several research reports. Bank of America upgraded shares of Erasca from a "neutral" rating to a "buy" rating and set a $5.00 price target on the stock in a research report on Tuesday, January 7th. The Goldman Sachs Group reduced their target price on shares of Erasca from $3.50 to $3.00 and set a "buy" rating for the company in a report on Friday, March 21st. Raymond James assumed coverage on Erasca in a research report on Wednesday, March 26th. They set an "outperform" rating and a $5.00 price objective for the company. HC Wainwright reaffirmed a "buy" rating and set a $6.00 target price on shares of Erasca in a research report on Friday, March 21st. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $4.00 target price on shares of Erasca in a report on Friday, March 7th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $4.83.

About Erasca

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.