Ebun Garner Sells 120,000 Shares of Erasca (NASDAQ:ERAS) Stock

Erasca, Inc. (NASDAQ:ERAS) General Counsel Ebun Garner sold 120,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $5.59, for a total transaction of $670,800.00. Following the completion of the sale, the general counsel directly owned 25,076 shares of the company’s stock, valued at $140,174.84. This represents a 82.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Erasca Stock Up 12.4%

Erasca stock traded up $0.64 during mid-day trading on Thursday, reaching $5.81. The company had a trading volume of 19,116,727 shares, compared to its average volume of 4,493,658. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of -12.91 and a beta of 1.15. The company has a 50 day moving average of $3.19 and a 200-day moving average of $2.25. Erasca, Inc. has a 52 week low of $1.01 and a 52 week high of $6.49.

Erasca (NASDAQ:ERAS) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.11) EPS for the quarter, hitting analysts’ consensus estimates of ($0.11). On average, analysts predict that Erasca, Inc. will post -0.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets boosted its stake in Erasca by 58.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 21,579 shares of the company’s stock valued at $27,000 after purchasing an additional 7,923 shares during the period. EP Wealth Advisors LLC bought a new stake in shares of Erasca in the second quarter valued at about $29,000. Russell Investments Group Ltd. acquired a new position in shares of Erasca in the third quarter valued at about $31,000. SG Americas Securities LLC acquired a new position in shares of Erasca in the third quarter valued at about $32,000. Finally, Crowley Wealth Management Inc. bought a new position in Erasca during the third quarter worth about $33,000. Institutional investors and hedge funds own 67.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ERAS. Mizuho boosted their price objective on Erasca from $4.00 to $5.00 and gave the company an “outperform” rating in a research report on Tuesday, December 9th. Guggenheim lifted their price target on shares of Erasca from $3.00 to $5.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Erasca in a report on Wednesday, October 8th. Stifel Nicolaus set a $6.00 price objective on shares of Erasca in a research report on Thursday, November 6th. Finally, Morgan Stanley set a $4.00 price objective on shares of Erasca in a report on Thursday. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $4.44.

Trending Headlines about Erasca

Here are the key news stories impacting Erasca this week:

• Positive Sentiment: Piper Sandler initiated coverage of Erasca with an “overweight” rating — a fresh buy-side analyst view that can attract investor interest and buying pressure. Piper Sandler initiates coverage of Erasca (ERAS) with overweight recommendation
• Neutral Sentiment: Multiple LULD (Limit Up/Limit Down) trading halts on Jan 7 and Jan 8 indicate elevated intraday volatility and rapid price moves; halts are market-protection events that can amplify volume and short-term swings but don’t by themselves change fundamentals.
• Neutral Sentiment: Sector noise: a takeover rumor involving Revolution Medicines/AbbVie lifted biotech risk appetite today and likely spilled over into peer names, including Erasca, helping lift the stock. Revolution Medicines jumps on report AbbVie nears takeover
• Negative Sentiment: Insider selling: General Counsel Ebun Garner sold 120,000 shares at an average $5.59 (disclosed in an SEC filing), cutting her direct ownership by ~82.7% — a sizable insider sale that can weigh on investor confidence. SEC ownership filing

Erasca Company 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.