Erasca (NASDAQ:ERAS) Insider Shannon Morris Sells 20,000 Shares of Stock

Erasca, Inc. (NASDAQ:ERAS) insider Shannon Morris sold 20,000 shares of Erasca stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $15.04, for a total transaction of $300,800.00. The sale was disclosed in a document filed with the SEC, which is available through this link.

Erasca Stock Down 0.5%

Erasca stock opened at $15.47 on Friday. Erasca, Inc. has a 12 month low of $1.01 and a 12 month high of $16.00. The stock has a market cap of $4.79 billion, a P/E ratio of -34.38 and a beta of 1.16. The company’s fifty day simple moving average is $10.11 and its 200-day simple moving average is $5.09.

Hedge Funds Weigh In On Erasca

Several large investors have recently bought and sold shares of the stock. AQR Capital Management LLC grew its position in Erasca by 594.8% in the 1st quarter. AQR Capital Management LLC now owns 396,202 shares of the company’s stock worth $543,000 after purchasing an additional 339,177 shares during the last quarter. Savant Capital LLC acquired a new position in shares of Erasca during the second quarter valued at about $87,000. Los Angeles Capital Management LLC bought a new stake in shares of Erasca in the second quarter valued at about $45,000. Geode Capital Management LLC lifted its stake in shares of Erasca by 1.6% in the second quarter. Geode Capital Management LLC now owns 4,835,642 shares of the company’s stock valued at $6,143,000 after buying an additional 77,790 shares during the period. Finally, Creative Planning grew its position in Erasca by 423.3% during the second quarter. Creative Planning now owns 244,332 shares of the company’s stock worth $310,000 after buying an additional 197,637 shares in the last quarter. 67.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Mizuho started coverage on Erasca in a research report on Tuesday, January 27th. They issued an “outperform” rating and a $16.00 target price on the stock. Guggenheim reiterated a “buy” rating and set a $12.00 price target on shares of Erasca in a report on Tuesday, January 27th. HC Wainwright increased their price objective on Erasca from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Erasca in a research report on Thursday, January 22nd. Finally, Morgan Stanley set a $10.00 target price on shares of Erasca in a research note on Monday, January 26th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.22.

Erasca Company Profile

Erasca, Inc is a clinical‐stage biopharmaceutical company dedicated to the discovery and development of precision medicines for patients with cancer. The company focuses on small molecule therapeutics that target critical signaling pathways involved in tumor growth and survival, with a primary emphasis on inhibitors of the MAPK pathway. Erasca’s approach is designed to deliver oral, targeted therapies that address both oncogene‐driven and immuno‐oncology indications, aiming to improve outcomes for patients with unmet medical needs.

Erasca’s pipeline comprises multiple development candidates, including small molecule inhibitors engineered to disrupt key nodes in cancer cell signaling.