41,000 Shares in Erasca, Inc. $ERAS Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Erasca, Inc. (NASDAQ:ERAS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 41,000 shares of the company’s stock, valued at approximately $751,000.

Other hedge funds have also bought and sold shares of the company. Persistent Asset Partners Ltd purchased a new position in Erasca in the 2nd quarter worth approximately $377,000. Bank of New York Mellon Corp bought a new position in shares of Erasca in the 2nd quarter worth $10,405,000. State of Wyoming purchased a new stake in shares of Erasca during the 2nd quarter valued at $284,000. Handelsbanken Fonder AB purchased a new stake in shares of Erasca during the 2nd quarter valued at $1,500,000. Finally, Wealthcare Advisory Partners LLC lifted its holdings in shares of Erasca by 5.0% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 15,924 shares of the company’s stock worth $292,000 after acquiring an additional 756 shares during the last quarter. 67.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ERAS has been the subject of several research reports. Bank of America upped their target price on shares of Erasca from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, August 14th. Wolfe Research set a $16.00 price target on Erasca in a research note on Thursday, June 4th. Morgan Stanley upped their price objective on Erasca from $12.00 to $21.00 and gave the stock an “equal weight” rating in a report on Monday, July 20th. Wall Street Zen lowered Erasca from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, Guggenheim raised their price objective on Erasca from $20.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $22.09.

Erasca Stock Performance

ERAS stock opened at $17.63 on Friday. The firm has a market cap of $6.17 billion, a P/E ratio of -18.56 and a beta of 0.66. The firm’s fifty day moving average is $17.74 and its 200 day moving average is $15.29. Erasca, Inc. has a 52 week low of $1.33 and a 52 week high of $24.28.

Erasca (NASDAQ:ERAS) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.03). As a group, analysts forecast that Erasca, Inc. will post -0.48 EPS for the current 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.