Walleye Capital LLC Lowers Stake in Erasca, Inc. (NASDAQ:ERAS)

Walleye Capital LLC lessened its position in shares of Erasca, Inc. (NASDAQ:ERAS - Free Report) by 85.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 138,708 shares of the company's stock after selling 810,849 shares during the period. Walleye Capital LLC's holdings in Erasca were worth $348,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of Erasca by 36.0% in the 3rd 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 during the last quarter. Wellington Management Group LLP bought a new position in shares of Erasca during the 4th quarter valued at $1,169,000. Barclays PLC grew its holdings in shares of Erasca by 627.5% during the 3rd quarter. Barclays PLC now owns 343,930 shares of the company's stock valued at $939,000 after purchasing an additional 296,657 shares during the last quarter. IPG Investment Advisors LLC bought a new position in shares of Erasca during the 4th quarter valued at $427,000. Finally, American Century Companies Inc. grew its holdings in shares of Erasca by 27.9% during the 4th 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 during the last quarter. Institutional investors own 67.78% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on ERAS. The Goldman Sachs Group reduced their target price 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 started coverage on shares of Erasca in a report on Wednesday, March 26th. They issued an "outperform" rating and a $5.00 price target on the stock. HC Wainwright reissued a "buy" rating and issued a $6.00 price target on shares of Erasca in a report on Wednesday. Bank of America raised shares of Erasca from a "neutral" rating to a "buy" rating and set a $5.00 price target on the stock in a report on Tuesday, January 7th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $4.00 price target on shares of Erasca in a report on Friday, March 7th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and an average target price of $4.83.

Erasca Stock Up 2.1 %

Shares of NASDAQ:ERAS traded up $0.03 on Wednesday, hitting $1.46. The company had a trading volume of 739,620 shares, compared to its average volume of 1,869,255. The firm's 50-day simple moving average is $1.35 and its two-hundred day simple moving average is $2.07. Erasca, Inc. has a 1 year low of $1.01 and a 1 year high of $3.45. The firm has a market capitalization of $413.57 million, a price-to-earnings ratio of -1.76 and a beta of 1.14.

Erasca (NASDAQ:ERAS - Get Free Report) last posted its earnings results on Thursday, March 20th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.01. During the same quarter in the previous year, the firm earned ($0.20) earnings per share. Equities research analysts anticipate that Erasca, Inc. will post -0.73 EPS for the current year.

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.