Dynamic Technology Lab Private Ltd Acquires 18,788 Shares of Erasca, Inc. $ERAS

Dynamic Technology Lab Private Ltd boosted its holdings in Erasca, Inc. (NASDAQ:ERAS) by 180.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,177 shares of the company’s stock after acquiring an additional 18,788 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Erasca were worth $37,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Frazier Life Sciences Management L.P. boosted its position in shares of Erasca by 16.4% during the first quarter. Frazier Life Sciences Management L.P. now owns 22,575,851 shares of the company’s stock valued at $30,929,000 after buying an additional 3,184,164 shares during the last quarter. Affinity Asset Advisors LLC grew its stake in shares of Erasca by 33.7% in the 1st quarter. Affinity Asset Advisors LLC now owns 3,341,519 shares of the company’s stock worth $4,578,000 after acquiring an additional 842,088 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of Erasca by 3.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 17,292,164 shares of the company’s stock valued at $23,691,000 after purchasing an additional 581,817 shares during the last quarter. Nuveen LLC bought a new position in shares of Erasca during the first quarter valued at about $663,000. Finally, Wellington Management Group LLP lifted its position in shares of Erasca by 82.6% during the first quarter. Wellington Management Group LLP now owns 850,147 shares of the company’s stock valued at $1,165,000 after purchasing an additional 384,475 shares in the last quarter. 67.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ERAS shares. Bank of America reiterated an “underperform” rating and issued a $1.00 price objective (down previously from $4.00) on shares of Erasca in a research note on Wednesday, September 3rd. Guggenheim upped their target price on Erasca from $3.00 to $5.00 and gave the company a “buy” rating in a report on Friday, November 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Erasca in a report on Wednesday, October 8th. Wall Street Zen raised Erasca from a “sell” rating to a “hold” rating in a research report on Sunday, September 21st. Finally, Morgan Stanley restated an “equal weight” rating and issued a $2.00 price objective (down previously from $4.00) on shares of Erasca in a research note on Monday, August 18th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $4.00.

Erasca Trading Up 2.0%

NASDAQ:ERAS opened at $3.13 on Friday. Erasca, Inc. has a 12 month low of $1.01 and a 12 month high of $3.30. The firm’s 50 day moving average is $2.41 and its 200 day moving average is $1.80. The stock has a market capitalization of $888.01 million, a PE ratio of -6.96 and a beta of 1.19.

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

Erasca Company 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.