D. E. Shaw & Co. Inc. Has $927,000 Holdings in Erasca, Inc. (NASDAQ:ERAS)

D. E. Shaw & Co. Inc. cut its stake in shares of Erasca, Inc. (NASDAQ:ERAS) by 23.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 369,254 shares of the company’s stock after selling 114,572 shares during the quarter. D. E. Shaw & Co. Inc. owned 0.13% of Erasca worth $927,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC grew its stake in shares of Erasca by 19.4% during the fourth quarter. SG Americas Securities LLC now owns 77,545 shares of the company’s stock worth $195,000 after buying an additional 12,599 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in Erasca by 10.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 59,949 shares of the company’s stock worth $150,000 after acquiring an additional 5,614 shares during the last quarter. Rhumbline Advisers grew its position in Erasca by 5.4% during the 4th quarter. Rhumbline Advisers now owns 223,888 shares of the company’s stock worth $562,000 after acquiring an additional 11,400 shares during the last quarter. New York State Common Retirement Fund increased its holdings in Erasca by 42.4% in the 4th quarter. New York State Common Retirement Fund now owns 26,859 shares of the company’s stock worth $67,000 after purchasing an additional 8,000 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Erasca by 6.9% in the fourth quarter. Bank of New York Mellon Corp now owns 544,819 shares of the company’s stock valued at $1,367,000 after purchasing an additional 35,268 shares during the last quarter. 67.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ERAS has been the subject of a number of research reports. HC Wainwright reiterated a “buy” rating and issued a $6.00 price objective on shares of Erasca in a report on Wednesday, April 30th. Morgan Stanley reiterated an “overweight” rating and set a $4.00 price target on shares of Erasca in a report on Friday, March 7th. The Goldman Sachs Group reduced their price objective on shares of Erasca from $3.50 to $3.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Raymond James began coverage on Erasca in a research report on Wednesday, March 26th. They set an “outperform” rating and a $5.00 target price for the company. Finally, Guggenheim set a $3.00 target price on Erasca and gave the stock a “buy” rating in a report on Wednesday, May 14th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $4.57.

Erasca Trading Up 0.8%

Shares of ERAS opened at $1.22 on Friday. The firm’s fifty day simple moving average is $1.32 and its two-hundred day simple moving average is $1.90. Erasca, Inc. has a 12 month low of $1.01 and a 12 month high of $3.45. The stock has a market capitalization of $345.61 million, a P/E ratio of -1.47 and a beta of 1.12.

Erasca (NASDAQ:ERAS) last announced its earnings results on Tuesday, May 13th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.01. As a group, research analysts predict that Erasca, Inc. will post -0.73 EPS for the current fiscal year.

About Erasca

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.