Insider Selling: Erasca (NASDAQ:ERAS) Insider Sells $300,800.00 in Stock

Erasca, Inc. (NASDAQ:ERAS) insider Shannon Morris sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $15.04, for a total value of $300,800.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Erasca Price Performance

Shares of NASDAQ ERAS opened at $15.47 on Monday. Erasca, Inc. has a 1-year low of $1.01 and a 1-year high of $16.00. The business’s fifty day moving average price is $10.11 and its two-hundred day moving average price is $5.14. The firm has a market capitalization of $4.79 billion, a PE ratio of -34.38 and a beta of 1.16.

Wall Street Analyst Weigh In

ERAS has been the topic of a number of analyst reports. HC Wainwright increased their price objective on shares of Erasca from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Mizuho began coverage on shares of Erasca in a research note on Tuesday, January 27th. They set an “outperform” rating and a $16.00 target price for the company. Guggenheim restated a “buy” rating and issued a $12.00 target price on shares of Erasca in a research report on Tuesday, January 27th. Stifel Nicolaus set a $10.00 price target on shares of Erasca in a research note on Monday, January 12th. Finally, Morgan Stanley set a $10.00 price target on Erasca in a report on Monday, January 26th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Erasca presently has an average rating of “Moderate Buy” and an average price target of $9.22.

Institutional Investors Weigh In On Erasca

Hedge funds and other institutional investors have recently modified their holdings of the stock. Spruce Street Capital LP acquired a new stake in Erasca in the fourth quarter worth about $14,469,000. Vivo Capital LLC increased its stake in Erasca by 37.2% during the 3rd quarter. Vivo Capital LLC now owns 9,273,428 shares of the company’s stock valued at $20,216,000 after buying an additional 2,516,672 shares during the period. State Street Corp raised its position in shares of Erasca by 53.2% during the 4th quarter. State Street Corp now owns 6,174,642 shares of the company’s stock worth $22,970,000 after buying an additional 2,145,386 shares in the last quarter. Paradigm Biocapital Advisors LP raised its position in shares of Erasca by 13.9% during the 3rd quarter. Paradigm Biocapital Advisors LP now owns 13,560,017 shares of the company’s stock worth $29,561,000 after buying an additional 1,652,835 shares in the last quarter. Finally, VR Adviser LLC lifted its stake in shares of Erasca by 10.1% in the 2nd quarter. VR Adviser LLC now owns 17,857,083 shares of the company’s stock worth $22,678,000 after acquiring an additional 1,640,867 shares during the period. 67.78% of the stock is currently owned by institutional investors.

About Erasca

Erasca, Inc is a clinical‐stage biopharmaceutical company dedicated to the discovery and development of precision medicines for patients with cancer. The company focuses on small molecule therapeutics that target critical signaling pathways involved in tumor growth and survival, with a primary emphasis on inhibitors of the MAPK pathway. Erasca’s approach is designed to deliver oral, targeted therapies that address both oncogene‐driven and immuno‐oncology indications, aiming to improve outcomes for patients with unmet medical needs.

Erasca’s pipeline comprises multiple development candidates, including small molecule inhibitors engineered to disrupt key nodes in cancer cell signaling.