Los Angeles Capital Management LLC Acquires New Holdings in Erasca, Inc. $ERAS

Los Angeles Capital Management LLC bought a new position in Erasca, Inc. (NASDAQ:ERAS) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 35,075 shares of the company’s stock, valued at approximately $45,000.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Personalized Indexing Management LLC boosted its position in shares of Erasca by 130.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 36,362 shares of the company’s stock worth $46,000 after buying an additional 20,558 shares during the period. Cerity Partners LLC acquired a new position in Erasca during the 1st quarter worth $49,000. CWM LLC grew its stake in shares of Erasca by 1,907.2% in the first quarter. CWM LLC now owns 36,250 shares of the company’s stock worth $50,000 after purchasing an additional 34,444 shares in the last quarter. Velan Capital Investment Management LP acquired a new position in shares of Erasca during the first quarter valued at $68,000. Finally, Savant Capital LLC bought a new stake in shares of Erasca during the second quarter valued at about $87,000. Institutional investors own 67.78% of the company’s stock.

Erasca Stock Performance

Shares of NASDAQ:ERAS opened at $2.86 on Wednesday. The stock has a market capitalization of $811.41 million, a price-to-earnings ratio of -6.36 and a beta of 1.19. Erasca, Inc. has a 1-year low of $1.01 and a 1-year high of $3.30. The company has a 50 day moving average price of $2.23 and a 200 day moving average price of $1.73.

Erasca (NASDAQ:ERAS) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). On average, sell-side analysts expect that Erasca, Inc. will post -0.73 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ERAS. Weiss Ratings reiterated a “sell (d-)” rating on shares of Erasca in a research report on Wednesday, October 8th. Morgan Stanley reiterated an “equal weight” rating and issued a $2.00 price objective (down from $4.00) on shares of Erasca in a report on Monday, August 18th. Wall Street Zen raised Erasca from a “sell” rating to a “hold” rating in a report on Sunday, September 21st. Stifel Nicolaus set a $6.00 target price on Erasca in a research report on Thursday, November 6th. Finally, Guggenheim lifted their price target on Erasca from $3.00 to $5.00 and gave the company a “buy” rating in a research report on Friday, November 14th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $4.00.

Erasca 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.