SG Americas Securities LLC Acquires 42,056 Shares of Erasca, Inc. (NASDAQ:ERAS)

SG Americas Securities LLC increased its stake in shares of Erasca, Inc. (NASDAQ:ERAS) by 183.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,946 shares of the company’s stock after buying an additional 42,056 shares during the quarter. SG Americas Securities LLC’s holdings in Erasca were worth $177,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. boosted its holdings in Erasca by 82.2% during the second 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. Edmonds Duncan Registered Investment Advisors LLC grew its holdings 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 acquiring an additional 10,000 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Erasca by 27.0% during the second quarter. The Manufacturers Life Insurance Company now owns 47,861 shares of the company’s stock worth $113,000 after acquiring an additional 10,164 shares during the period. Federated Hermes Inc. purchased a new stake in shares of Erasca during the 2nd quarter valued at $31,000. Finally, Sei Investments Co. purchased a new position in shares of Erasca in the 2nd quarter worth about $39,000. 67.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ERAS has been the subject of a number of recent research reports. HC Wainwright raised their target price on Erasca from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. The Goldman Sachs Group reduced their target price on shares of Erasca from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.00.

Erasca Stock Down 3.4 %

ERAS stock opened at $2.58 on Thursday. The stock has a 50-day simple moving average of $2.77 and a two-hundred day simple moving average of $2.52. Erasca, Inc. has a twelve month low of $1.51 and a twelve month high of $3.45. The firm has a market capitalization of $447.27 million, a PE ratio of -3.10 and a beta of 1.16.

Erasca (NASDAQ:ERAS) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.12). On average, equities research analysts anticipate that Erasca, Inc. will post -0.91 EPS for the current fiscal 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.