Erasca, Inc. (NASDAQ:ERAS – Get Rating) shares rose 6.2% on Friday . The company traded as high as $8.06 and last traded at $8.06. Approximately 2,533 shares changed hands during trading, a decline of 100% from the average daily volume of 779,448 shares. The stock had previously closed at $7.59.
Erasca Stock Up 3.8 %
The stock has a market capitalization of $964.20 million, a price-to-earnings ratio of -6.79 and a beta of 1.08. The business’s 50-day moving average is $7.73 and its two-hundred day moving average is $7.23.
Institutional Investors Weigh In On Erasca
Several large investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Erasca during the 2nd quarter worth approximately $27,000. Ameritas Investment Partners Inc. boosted its stake in shares of Erasca by 212.7% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,957 shares of the company’s stock worth $43,000 after purchasing an additional 3,372 shares during the last quarter. Amalgamated Bank acquired a new stake in shares of Erasca in the first quarter worth approximately $64,000. Teacher Retirement System of Texas acquired a new position in shares of Erasca in the 3rd quarter valued at $78,000. Finally, Price T Rowe Associates Inc. MD purchased a new position in shares of Erasca in the 3rd quarter valued at $79,000. 63.00% of the stock is owned by hedge funds and other institutional investors.
Erasca Company Profile
Erasca, Inc, a clinical-stage biopharmaceutical company, focuses on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers. The company's lead candidates include ERAS-007, an oral inhibitor of ERK1/2 for the treatment of non-small cell lung cancer, colorectal cancer, and acute myeloid leukemia; and ERAS-601, an oral SHP2 inhibitor for patients with advanced or metastatic solid tumors.
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