Wellington Management Group LLP Takes Position in Erasca, Inc. (NASDAQ:ERAS)

Wellington Management Group LLP bought a new stake in Erasca, Inc. (NASDAQ:ERAS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 465,672 shares of the company's stock, valued at approximately $1,169,000. Wellington Management Group LLP owned 0.16% of Erasca at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ERAS. IPG Investment Advisors LLC purchased a new stake in Erasca in the fourth quarter valued at approximately $427,000. KLP Kapitalforvaltning AS acquired a new stake in Erasca during the 4th quarter valued at approximately $69,000. AXQ Capital LP purchased a new stake in shares of Erasca in the 4th quarter valued at $27,000. American Century Companies Inc. increased its stake in shares of Erasca by 27.9% in the fourth quarter. American Century Companies Inc. now owns 363,571 shares of the company's stock worth $913,000 after acquiring an additional 79,365 shares during the period. Finally, Teacher Retirement System of Texas raised its holdings in shares of Erasca by 29.1% during the fourth quarter. Teacher Retirement System of Texas now owns 54,706 shares of the company's stock worth $137,000 after purchasing an additional 12,345 shares during the last quarter. 67.78% of the stock is owned by institutional investors and hedge funds.

Erasca Stock Performance

Shares of Erasca stock traded down $0.01 on Friday, reaching $1.16. The company had a trading volume of 952,477 shares, compared to its average volume of 1,834,183. The firm has a market cap of $328.59 million, a PE ratio of -1.40 and a beta of 1.14. The firm's 50 day moving average price is $1.37 and its two-hundred day moving average price is $2.13. Erasca, Inc. has a 52-week low of $1.01 and a 52-week high of $3.45.

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, topping analysts' consensus estimates of ($0.12) by $0.01. During the same period last year, the company earned ($0.20) EPS. As a group, sell-side analysts predict that Erasca, Inc. will post -0.73 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ERAS shares. The Goldman Sachs Group decreased their price objective on Erasca from $3.50 to $3.00 and set a "buy" rating for the company in a report on Friday, March 21st. Morgan Stanley reaffirmed an "overweight" rating and issued a $4.00 price target on shares of Erasca in a research note on Friday, March 7th. Raymond James initiated coverage on Erasca in a report on Wednesday, March 26th. They set an "outperform" rating and a $5.00 target price for the company. Bank of America raised Erasca from a "neutral" rating to a "buy" rating and set a $5.00 price target on the stock in a research note on Tuesday, January 7th. Finally, HC Wainwright reissued a "buy" rating and issued a $6.00 price objective on shares of Erasca in a research note on Friday, March 21st. 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 price target of $4.83.

Erasca Company 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.