MetLife Investment Management LLC Has $283,000 Stock Position in Erasca, Inc. (NASDAQ:ERAS)

MetLife Investment Management LLC raised its stake in shares of Erasca, Inc. (NASDAQ:ERAS) by 51.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,686 shares of the company’s stock after buying an additional 35,355 shares during the period. MetLife Investment Management LLC’s holdings in Erasca were worth $283,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Federated Hermes Inc. bought a new position in Erasca during the second quarter valued at about $31,000. Sei Investments Co. bought a new position in shares of Erasca in the second quarter worth about $39,000. Victory Capital Management Inc. increased its stake in shares of Erasca by 82.2% in the second quarter. Victory Capital Management Inc. now owns 21,479 shares of the company’s stock worth $51,000 after purchasing an additional 9,689 shares during the period. Creative Planning increased its stake in shares of Erasca by 23.0% in the third quarter. Creative Planning now owns 20,014 shares of the company’s stock worth $55,000 after purchasing an additional 3,737 shares during the period. Finally, Edmonds Duncan Registered Investment Advisors LLC increased its stake in shares of Erasca by 41.2% in the second quarter. Edmonds Duncan Registered Investment Advisors LLC now owns 34,280 shares of the company’s stock worth $81,000 after purchasing an additional 10,000 shares during the period. 67.78% of the stock is currently owned by institutional investors.

Erasca Stock Up 4.5 %

Shares of ERAS opened at $3.03 on Monday. Erasca, Inc. has a 12-month low of $1.64 and a 12-month high of $3.45. The firm has a market capitalization of $856.67 million, a price-to-earnings ratio of -3.65 and a beta of 1.20. The stock’s 50-day moving average price is $2.78 and its 200 day moving average price is $2.71.

Erasca (NASDAQ:ERAS) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.06. Equities research analysts expect that Erasca, Inc. will post -0.73 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on ERAS shares. Jefferies Financial Group started coverage on Erasca in a research note on Monday, November 18th. They issued a “buy” rating and a $6.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and issued a $6.00 price objective on shares of Erasca in a research note on Wednesday, November 13th. Finally, The Goldman Sachs Group lifted their price objective on Erasca from $3.00 to $3.50 and gave the stock a “buy” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $5.90.

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.