GSA Capital Partners LLP Trims Position in Erasca, Inc. (NASDAQ:ERAS)

GSA Capital Partners LLP reduced its position in Erasca, Inc. (NASDAQ:ERAS) by 46.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 60,848 shares of the company’s stock after selling 52,535 shares during the period. GSA Capital Partners LLP’s holdings in Erasca were worth $166,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ERAS. Federated Hermes Inc. acquired a new stake in shares of Erasca during the second quarter worth $31,000. Sei Investments Co. acquired a new stake in Erasca in the 2nd quarter worth about $39,000. Creative Planning increased its stake in shares of Erasca by 23.0% during the 3rd quarter. Creative Planning now owns 20,014 shares of the company’s stock valued at $55,000 after acquiring an additional 3,737 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Erasca by 82.2% during the 2nd quarter. Victory Capital Management Inc. now owns 21,479 shares of the company’s stock valued at $51,000 after acquiring an additional 9,689 shares during the last quarter. Finally, Edmonds Duncan Registered Investment Advisors LLC lifted its holdings in shares of 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 during the period. 67.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on ERAS. Jefferies Financial Group initiated coverage on shares of Erasca in a research report on Monday, November 18th. They set a “buy” rating and a $6.00 price target for the company. HC Wainwright restated a “buy” rating and set a $6.00 price objective on shares of Erasca in a report on Wednesday, November 13th. Finally, The Goldman Sachs Group lifted their target price on Erasca from $3.00 to $3.50 and gave the company a “buy” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Erasca currently has an average rating of “Moderate Buy” and a consensus price target of $6.08.

Erasca Trading Up 3.8 %

NASDAQ:ERAS opened at $2.70 on Monday. The firm’s fifty day simple moving average is $2.75 and its 200 day simple moving average is $2.64. 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 $763.36 million, a price-to-earnings ratio of -3.25 and a beta of 1.16.

Erasca (NASDAQ:ERAS) last posted its earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.06. On average, analysts predict that Erasca, Inc. will post -0.76 earnings per share for the current year.

About Erasca

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.