Erasca, Inc. $ERAS Shares Sold by Siren L.L.C.

Siren L.L.C. trimmed its position in Erasca, Inc. (NASDAQ:ERAS) by 1.1% in the first quarter, HoldingsChannel.com reports. The firm owned 8,757,249 shares of the company’s stock after selling 99,930 shares during the quarter. Siren L.L.C.’s holdings in Erasca were worth $11,997,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ERAS. Frazier Life Sciences Management L.P. lifted its position in Erasca by 16.4% in the first quarter. Frazier Life Sciences Management L.P. now owns 22,575,851 shares of the company’s stock worth $30,929,000 after purchasing an additional 3,184,164 shares during the period. Millennium Management LLC lifted its position in Erasca by 73.3% in the fourth quarter. Millennium Management LLC now owns 4,177,900 shares of the company’s stock worth $10,487,000 after purchasing an additional 1,767,350 shares during the period. Affinity Asset Advisors LLC lifted its position in Erasca by 33.7% in the first quarter. Affinity Asset Advisors LLC now owns 3,341,519 shares of the company’s stock worth $4,578,000 after purchasing an additional 842,088 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in Erasca by 3.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 17,292,164 shares of the company’s stock worth $23,691,000 after purchasing an additional 581,817 shares during the period. Finally, Nuveen LLC acquired a new stake in Erasca in the first quarter worth approximately $663,000. 67.78% of the stock is currently owned by institutional investors and hedge funds.

Erasca Stock Down 3.7%

Shares of NASDAQ:ERAS opened at $1.55 on Thursday. The company’s fifty day moving average is $1.53 and its two-hundred day moving average is $1.42. Erasca, Inc. has a 12-month low of $1.01 and a 12-month high of $3.31. The company has a market cap of $439.69 million, a P/E ratio of -3.44 and a beta of 1.08.

Erasca (NASDAQ:ERAS) last announced its earnings results on Tuesday, August 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.12). Equities research analysts anticipate that Erasca, Inc. will post -0.73 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wall Street Zen upgraded Erasca from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. Morgan Stanley reiterated an “equal weight” rating and set a $2.00 price objective (down previously from $4.00) on shares of Erasca in a research report on Monday, August 18th. Guggenheim set a $3.00 price objective on Erasca and gave the company a “buy” rating in a research report on Wednesday, May 14th. Finally, Bank of America reiterated an “underperform” rating and set a $1.00 price objective (down previously from $4.00) on shares of Erasca in a research report on Wednesday, September 3rd. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $3.71.

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.