AQR Capital Management LLC Sells 66,440 Shares of Erasca, Inc. (NASDAQ:ERAS)

AQR Capital Management LLC cut its holdings in shares of Erasca, Inc. (NASDAQ:ERAS) by 54.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,722 shares of the company’s stock after selling 66,440 shares during the quarter. AQR Capital Management LLC’s holdings in Erasca were worth $132,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Federated Hermes Inc. bought a new stake in shares of Erasca in the 2nd quarter valued at about $31,000. Sei Investments Co. acquired a new position in Erasca in the 2nd quarter valued at about $39,000. Victory Capital Management Inc. grew its stake in Erasca by 82.2% in the 2nd quarter. Victory Capital Management Inc. now owns 21,479 shares of the company’s stock valued at $51,000 after buying an additional 9,689 shares during the last quarter. Edmonds Duncan Registered Investment Advisors LLC grew its stake in Erasca by 41.2% in the 2nd quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 34,280 shares of the company’s stock valued at $81,000 after buying an additional 10,000 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Erasca in the 1st quarter valued at about $216,000. 67.78% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Erasca Trading Up 3.9 %

NASDAQ ERAS opened at $2.91 on Friday. The firm has a market capitalization of $504.47 million, a price-to-earnings ratio of -3.46 and a beta of 1.16. The firm’s 50 day simple moving average is $2.77 and its 200 day simple moving average is $2.51. Erasca, Inc. has a 1 year low of $1.51 and a 1 year high of $3.45.

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