265,381 Shares in Erasca, Inc. $ERAS Acquired by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. acquired a new stake in Erasca, Inc. (NASDAQ:ERAS) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 265,381 shares of the company’s stock, valued at approximately $4,862,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its stake in shares of Erasca by 594.8% during the 1st quarter. AQR Capital Management LLC now owns 396,202 shares of the company’s stock valued at $543,000 after buying an additional 339,177 shares during the period. Geode Capital Management LLC increased its stake in shares of Erasca by 1.6% in the second quarter. Geode Capital Management LLC now owns 4,835,642 shares of the company’s stock worth $6,143,000 after acquiring an additional 77,790 shares during the last quarter. Creative Planning raised its holdings in shares of Erasca by 423.3% during the second quarter. Creative Planning now owns 244,332 shares of the company’s stock worth $310,000 after acquiring an additional 197,637 shares in the last quarter. New York State Common Retirement Fund boosted its position in Erasca by 39.1% during the second quarter. New York State Common Retirement Fund now owns 37,360 shares of the company’s stock valued at $47,000 after purchasing an additional 10,501 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Erasca by 51.6% during the second quarter. Invesco Ltd. now owns 172,226 shares of the company’s stock valued at $219,000 after purchasing an additional 58,643 shares during the last quarter. Hedge funds and other institutional investors own 67.78% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on ERAS. Morgan Stanley upped their target price on Erasca from $12.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Monday, July 20th. Guggenheim boosted their price target on Erasca from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, August 13th. Wall Street Zen cut Erasca from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Stifel Nicolaus raised their price objective on shares of Erasca from $20.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Finally, Bank of America raised their price objective on shares of Erasca from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, August 14th. Eight research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Erasca has a consensus rating of “Moderate Buy” and a consensus target price of $22.09.

Erasca Price Performance

Shares of NASDAQ:ERAS opened at $18.07 on Thursday. Erasca, Inc. has a fifty-two week low of $1.33 and a fifty-two week high of $24.28. The business has a 50-day moving average of $17.61 and a two-hundred day moving average of $15.23. The stock has a market capitalization of $6.32 billion, a P/E ratio of -19.02 and a beta of 0.66.

Erasca (NASDAQ:ERAS) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). As a group, research analysts expect that Erasca, Inc. will post -0.48 EPS for the current fiscal year.

Erasca Profile

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.