Walleye Capital LLC Has $348,000 Stock Position in Erasca, Inc. (NASDAQ:ERAS)

Walleye Capital LLC lessened its holdings in Erasca, Inc. (NASDAQ:ERAS) by 85.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 138,708 shares of the company’s stock after selling 810,849 shares during the quarter. Walleye Capital LLC’s holdings in Erasca were worth $348,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Geode Capital Management LLC raised its position in shares of Erasca by 36.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,502,698 shares of the company’s stock valued at $12,295,000 after acquiring an additional 1,190,807 shares during the period. Wellington Management Group LLP bought a new position in shares of Erasca during the 4th quarter valued at about $1,169,000. Barclays PLC increased its stake in Erasca by 627.5% during the 3rd quarter. Barclays PLC now owns 343,930 shares of the company’s stock worth $939,000 after purchasing an additional 296,657 shares in the last quarter. IPG Investment Advisors LLC acquired a new stake in Erasca during the 4th quarter worth approximately $427,000. Finally, American Century Companies Inc. raised its holdings in Erasca by 27.9% during the 4th quarter. American Century Companies Inc. now owns 363,571 shares of the company’s stock worth $913,000 after buying an additional 79,365 shares during the period. Institutional investors and hedge funds own 67.78% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Raymond James assumed coverage on shares of Erasca in a research report on Wednesday, March 26th. They issued an “outperform” rating and a $5.00 price objective on the stock. 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 report on Tuesday, January 7th. HC Wainwright restated a “buy” rating and issued a $6.00 target price on shares of Erasca in a research note on Friday, March 21st. Morgan Stanley reaffirmed an “overweight” rating and set a $4.00 price target on shares of Erasca in a research note on Friday, March 7th. Finally, The Goldman Sachs Group reduced their target price on shares of Erasca from $3.50 to $3.00 and set a “buy” rating for the company in a report on Friday, March 21st. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Erasca currently has an average rating of “Buy” and an average price target of $4.83.

Erasca Trading Down 1.4 %

NASDAQ ERAS opened at $1.40 on Friday. The company has a market cap of $396.57 million, a price-to-earnings ratio of -1.69 and a beta of 1.14. Erasca, Inc. has a 1-year low of $1.01 and a 1-year high of $3.45. The company has a 50 day moving average of $1.35 and a 200-day moving average of $2.10.

Erasca (NASDAQ:ERAS) last released its earnings results on Thursday, March 20th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. During the same period in the prior year, the company earned ($0.20) EPS. On average, equities research analysts forecast that Erasca, Inc. will post -0.73 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.