Creative Planning Increases Stake in Erasca, Inc. (NASDAQ:ERAS)

Creative Planning grew its stake in Erasca, Inc. (NASDAQ:ERAS) by 23.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 20,014 shares of the company’s stock after buying an additional 3,737 shares during the quarter. Creative Planning’s holdings in Erasca were worth $55,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in ERAS. Susquehanna Fundamental Investments LLC purchased a new position in Erasca in the first quarter valued at approximately $216,000. Vanguard Group Inc. boosted its holdings in shares of Erasca by 14.4% in the 1st quarter. Vanguard Group Inc. now owns 4,338,108 shares of the company’s stock valued at $8,937,000 after buying an additional 545,765 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of Erasca by 286.5% in the 1st quarter. Acadian Asset Management LLC now owns 346,953 shares of the company’s stock valued at $713,000 after buying an additional 257,174 shares during the last quarter. Edmonds Duncan Registered Investment Advisors LLC raised its stake 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 acquiring an additional 10,000 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Erasca by 50.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 392,490 shares of the company’s stock worth $926,000 after acquiring an additional 131,829 shares in the last quarter. Hedge funds and other institutional investors own 67.78% of the company’s stock.

Erasca Trading Down 4.7 %

ERAS stock opened at $2.85 on Thursday. The company has a market cap of $805.13 million, a P/E ratio of -3.43 and a beta of 1.16. Erasca, Inc. has a 52 week low of $1.51 and a 52 week high of $3.45. The company’s 50-day moving average price is $2.79 and its 200 day moving average price is $2.61.

Erasca (NASDAQ:ERAS) last announced its earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.06. On average, equities research analysts expect that Erasca, Inc. will post -0.9 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on ERAS. The Goldman Sachs Group lifted their price target on shares of Erasca from $3.00 to $3.50 and gave the stock a “buy” rating in a research note on Friday, October 25th. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 target price on shares of Erasca in a report on Wednesday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Erasca has an average rating of “Moderate Buy” and a consensus target price of $6.10.

Erasca 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.