Erasca, Inc. (NASDAQ:ERAS) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its position in Erasca, Inc. (NASDAQ:ERAS) by 31.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,381 shares of the company’s stock after selling 5,804 shares during the quarter. Principal Financial Group Inc.’s holdings in Erasca were worth $34,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Federated Hermes Inc. purchased a new stake in shares of Erasca in the 2nd quarter valued at approximately $31,000. Sei Investments Co. acquired a new position in shares of Erasca during the second quarter worth $39,000. Victory Capital Management Inc. increased its holdings in Erasca by 82.2% in the second quarter. Victory Capital Management Inc. now owns 21,479 shares of the company’s stock valued at $51,000 after buying an additional 9,689 shares during the last quarter. Creative Planning raised its stake in Erasca by 23.0% in the third quarter. Creative Planning now owns 20,014 shares of the company’s stock valued at $55,000 after buying an additional 3,737 shares in the last quarter. Finally, Edmonds Duncan Registered Investment Advisors LLC lifted its holdings in Erasca by 41.2% during the 2nd quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 34,280 shares of the company’s stock worth $81,000 after buying an additional 10,000 shares during the last quarter. Hedge funds and other institutional investors own 67.78% of the company’s stock.

Erasca Stock Up 0.7 %

Shares of NASDAQ ERAS opened at $2.78 on Wednesday. The business has a 50-day moving average price of $2.75 and a 200 day moving average price of $2.65. The stock has a market cap of $785.99 million, a PE ratio of -3.35 and a beta of 1.16. Erasca, Inc. has a 52-week low of $1.51 and a 52-week high of $3.45.

Erasca (NASDAQ:ERAS) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.06. Sell-side analysts anticipate that Erasca, Inc. will post -0.73 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Jefferies Financial Group began coverage on Erasca in a report on Monday, November 18th. They issued a “buy” rating and a $6.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and issued a $6.00 price target on shares of Erasca in a research note on Wednesday, November 13th. Finally, The Goldman Sachs Group raised their price objective on shares of Erasca from $3.00 to $3.50 and gave the stock a “buy” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $6.08.

About Erasca

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.