Erasca, Inc. $ERAS Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP lifted its holdings in shares of Erasca, Inc. (NASDAQ:ERAS) by 10.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 655,298 shares of the company’s stock after purchasing an additional 59,919 shares during the period. Wellington Management Group LLP owned about 0.19% of Erasca worth $12,005,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Wealthcare Advisory Partners LLC increased its position in 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 purchasing an additional 756 shares in the last quarter. Neuberger Berman Group LLC lifted its holdings in Erasca by 11.3% in the 4th quarter. Neuberger Berman Group LLC now owns 12,358 shares of the company’s stock valued at $46,000 after purchasing an additional 1,253 shares in the last quarter. Abel Hall LLC lifted its holdings in Erasca by 8.1% in the 1st quarter. Abel Hall LLC now owns 16,947 shares of the company’s stock valued at $274,000 after purchasing an additional 1,265 shares in the last quarter. Allworth Financial LP acquired a new stake in shares of Erasca during the 2nd quarter worth about $34,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Erasca by 77.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,249 shares of the company’s stock worth $69,000 after purchasing an additional 1,859 shares during the last quarter. 67.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ERAS has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Erasca in a research report on Thursday, June 11th. HSBC set a $20.00 target price on shares of Erasca in a research report on Tuesday, July 14th. Morgan Stanley boosted their price target on Erasca from $12.00 to $21.00 and gave the company an “equal weight” rating in a report on Monday, July 20th. Bank of America lifted their price objective on Erasca from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, August 14th. Finally, Wolfe Research set a $16.00 target price on Erasca in a research note on Thursday, June 4th. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Erasca currently has an average rating of “Moderate Buy” and an average target price of $22.09.

Erasca Price Performance

Shares of NASDAQ:ERAS opened at $16.19 on Tuesday. The firm has a market capitalization of $5.66 billion, a PE ratio of -17.04 and a beta of 0.64. The business has a 50-day moving average of $18.30 and a two-hundred day moving average of $15.76. Erasca, Inc. has a 12 month low of $1.47 and a 12 month high of $24.28.

Erasca (NASDAQ:ERAS) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.03). As a group, research analysts anticipate that Erasca, Inc. will post -0.49 earnings per share for the current year.

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.