Teacher Retirement System of Texas Buys 12,345 Shares of Erasca, Inc. (NASDAQ:ERAS)

Teacher Retirement System of Texas boosted its stake in Erasca, Inc. (NASDAQ:ERAS) by 29.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,706 shares of the company’s stock after buying an additional 12,345 shares during the quarter. Teacher Retirement System of Texas’ holdings in Erasca were worth $137,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Erasca by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 59,949 shares of the company’s stock valued at $150,000 after acquiring an additional 5,614 shares during the period. New York State Common Retirement Fund increased its position in Erasca by 42.4% in the 4th quarter. New York State Common Retirement Fund now owns 26,859 shares of the company’s stock valued at $67,000 after acquiring an additional 8,000 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Erasca by 5.4% in the fourth quarter. Rhumbline Advisers now owns 223,888 shares of the company’s stock valued at $562,000 after purchasing an additional 11,400 shares in the last quarter. SG Americas Securities LLC raised its position in Erasca by 19.4% in the 4th quarter. SG Americas Securities LLC now owns 77,545 shares of the company’s stock worth $195,000 after purchasing an additional 12,599 shares during the last quarter. Finally, Cibc World Markets Corp acquired a new position in Erasca during the 4th quarter worth $43,000. 67.78% of the stock is currently owned by institutional investors.

Erasca Trading Up 4.6 %

Shares of ERAS opened at $1.26 on Thursday. The stock has a market cap of $356.92 million, a P/E ratio of -1.52 and a beta of 1.22. Erasca, Inc. has a 1 year low of $1.04 and a 1 year high of $3.45. The stock’s 50-day moving average price is $1.55 and its two-hundred day moving average price is $2.28.

Erasca (NASDAQ:ERAS) last announced its earnings results on Thursday, March 20th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. During the same period last year, the business posted ($0.20) earnings per share. As a group, equities analysts forecast that Erasca, Inc. will post -0.73 EPS for the current year.

Analyst Ratings Changes

ERAS has been the subject of several research reports. Raymond James began coverage on Erasca in a research note on Wednesday, March 26th. They issued an “outperform” rating and a $5.00 target price for the company. Bank of America upgraded Erasca from a “neutral” rating to a “buy” rating and set a $5.00 price objective for the company in a research report on Tuesday, January 7th. Morgan Stanley restated an “overweight” rating and set a $4.00 target price on shares of Erasca in a research report on Friday, March 7th. The Goldman Sachs Group lowered their price target on shares of Erasca from $3.50 to $3.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Finally, HC Wainwright restated a “buy” rating and issued a $6.00 price objective on shares of Erasca in a report on Friday, March 21st. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $4.83.

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.