Erasca, Inc. (NASDAQ:ERAS – Get Free Report) was the target of a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 27,030,000 shares, a growth of 8.9% from the August 31st total of 24,810,000 shares. Based on an average daily volume of 2,450,000 shares, the days-to-cover ratio is presently 11.0 days. Currently, 15.4% of the shares of the stock are short sold.
Erasca Stock Performance
Shares of NASDAQ:ERAS traded down $0.14 during mid-day trading on Tuesday, hitting $2.59. The stock had a trading volume of 1,543,580 shares, compared to its average volume of 1,653,087. The company’s 50 day moving average is $2.84 and its 200-day moving average is $2.46. Erasca has a 12-month low of $1.51 and a 12-month high of $3.45. The company has a market cap of $449.00 million, a PE ratio of -3.07 and a beta of 1.16.
Erasca (NASDAQ:ERAS – Get Free Report) last released its earnings results on Monday, August 12th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.12). On average, equities research analysts predict that Erasca will post -0.91 EPS for the current fiscal year.
Analysts Set New Price Targets
View Our Latest Stock Analysis on ERAS
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of ERAS. Federated Hermes Inc. bought a new stake in Erasca in the second quarter worth $31,000. Sei Investments Co. bought a new position in shares of Erasca in the 2nd quarter valued at approximately $39,000. Victory Capital Management Inc. lifted its holdings in Erasca by 82.2% in the 2nd quarter. Victory Capital Management Inc. now owns 21,479 shares of the company’s stock worth $51,000 after purchasing an additional 9,689 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in Erasca by 66.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 29,013 shares of the company’s stock valued at $60,000 after purchasing an additional 11,541 shares during the last quarter. Finally, Edmonds Duncan Registered Investment Advisors LLC raised its position in shares of Erasca by 41.2% in the second quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 34,280 shares of the company’s stock valued at $81,000 after purchasing an additional 10,000 shares during the period. 67.78% of the stock is owned by institutional investors and hedge funds.
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.
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