Erasca (NASDAQ:ERAS) Sets New 12-Month High at $3.38

Erasca, Inc. (NASDAQ:ERAS)’s stock price hit a new 52-week high on Friday . The stock traded as high as $3.38 and last traded at $3.36, with a volume of 54846 shares traded. The stock had previously closed at $3.27.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. HC Wainwright decreased their price objective on Erasca from $8.00 to $5.00 and set a “buy” rating on the stock in a report on Monday, May 20th. The Goldman Sachs Group decreased their price objective on Erasca from $7.00 to $4.00 and set a “buy” rating on the stock in a report on Tuesday, May 28th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $6.00.

Erasca Trading Up 2.4 %

The company has a 50-day moving average of $2.49 and a 200 day moving average of $2.17.

Erasca (NASDAQ:ERAS) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02). On average, analysts forecast that Erasca, Inc. will post -0.77 earnings per share for the current fiscal year.

Insider Buying and Selling at Erasca

In other news, Director Alexander W. Casdin bought 80,000 shares of the stock in a transaction dated Tuesday, May 21st. The stock was bought at an average cost of $2.27 per share, with a total value of $181,600.00. Following the purchase, the director now owns 573,974 shares of the company’s stock, valued at $1,302,920.98. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 21.50% of the company’s stock.

Institutional Investors Weigh In On Erasca

Hedge funds and other institutional investors have recently made changes to their positions in the company. Aaron Wealth Advisors LLC acquired a new stake in shares of Erasca in the 4th quarter valued at $28,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Erasca in the 4th quarter valued at $35,000. China Universal Asset Management Co. Ltd. increased its stake in shares of Erasca by 350.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 17,472 shares of the company’s stock valued at $37,000 after buying an additional 13,597 shares during the period. RPO LLC acquired a new stake in shares of Erasca during the fourth quarter worth $44,000. Finally, Edmonds Duncan Registered Investment Advisors LLC grew its stake in shares of Erasca by 41.2% during the second quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 34,280 shares of the company’s stock worth $81,000 after purchasing an additional 10,000 shares during the period. 67.78% of the stock is owned by institutional investors and hedge funds.

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.