PFM Health Sciences LP Has $5.49 Million Holdings in Erasca, Inc. (NASDAQ:ERAS)

PFM Health Sciences LP lessened its stake in Erasca, Inc. (NASDAQ:ERASFree Report) by 34.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,575,511 shares of the company’s stock after selling 1,355,122 shares during the quarter. PFM Health Sciences LP’s holdings in Erasca were worth $5,486,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Aaron Wealth Advisors LLC acquired a new position in Erasca during the fourth quarter worth $28,000. Vanguard Personalized Indexing Management LLC acquired a new position in Erasca during the fourth quarter worth $35,000. China Universal Asset Management Co. Ltd. boosted its holdings in Erasca by 350.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 17,472 shares of the company’s stock worth $37,000 after purchasing an additional 13,597 shares during the last quarter. RPO LLC acquired a new position in Erasca during the fourth quarter worth $44,000. Finally, Principal Financial Group Inc. raised its position in Erasca by 14.1% during the third quarter. Principal Financial Group Inc. now owns 40,376 shares of the company’s stock worth $80,000 after acquiring an additional 4,994 shares in the last quarter. Institutional investors and hedge funds own 67.78% of the company’s stock.

Analyst Upgrades and Downgrades

ERAS has been the topic of several analyst reports. The Goldman Sachs Group dropped their price target on shares of Erasca from $7.00 to $4.00 and set a “buy” rating on the stock in a research report on Tuesday, May 28th. Capital One Financial reaffirmed an “overweight” rating and set a $8.00 price target on shares of Erasca in a research report on Monday, March 11th. Finally, HC Wainwright dropped their price target on shares of Erasca from $8.00 to $5.00 and set a “buy” rating on the stock in a research report on Monday, May 20th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $6.00.

Check Out Our Latest Analysis on ERAS

Erasca Stock Down 1.8 %

Shares of ERAS traded down $0.04 during trading hours on Thursday, hitting $2.18. The company had a trading volume of 424,885 shares, compared to its average volume of 1,217,800. The firm has a market cap of $377.92 million, a price-to-earnings ratio of -2.60 and a beta of 1.18. The business has a fifty day moving average of $2.17 and a 200-day moving average of $2.05. Erasca, Inc. has a 12 month low of $1.51 and a 12 month high of $3.02.

Erasca (NASDAQ:ERASGet Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). On average, equities analysts expect that Erasca, Inc. will post -0.77 EPS for the current fiscal year.

Insider Buying and Selling

In other Erasca news, Director Alexander W. Casdin purchased 80,000 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were acquired at an average cost of $2.27 per share, with a total value of $181,600.00. Following the completion of the transaction, the director now owns 573,974 shares in the company, valued at $1,302,920.98. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 21.50% of the stock is owned by insiders.

Erasca Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Erasca (NASDAQ:ERAS)

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