UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $1.12 Million Stock Position in Erasca, Inc. (NASDAQ:ERAS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Erasca, Inc. (NASDAQ:ERAS) by 22.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 444,769 shares of the company’s stock after acquiring an additional 80,684 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.16% of Erasca worth $1,116,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ERAS. Octagon Capital Advisors LP bought a new stake in shares of Erasca in the 4th quarter valued at approximately $12,893,000. Millennium Management LLC grew its position in Erasca by 73.3% during the 4th quarter. Millennium Management LLC now owns 4,177,900 shares of the company’s stock worth $10,487,000 after acquiring an additional 1,767,350 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Erasca by 74.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,111,986 shares of the company’s stock worth $5,301,000 after acquiring an additional 903,687 shares during the last quarter. Silverarc Capital Management LLC grew its position in Erasca by 8.6% during the 4th quarter. Silverarc Capital Management LLC now owns 7,543,901 shares of the company’s stock worth $18,935,000 after acquiring an additional 597,413 shares during the last quarter. Finally, Wellington Management Group LLP bought a new stake in Erasca during the 4th quarter worth approximately $1,169,000. 67.78% of the stock is currently owned by institutional investors.

Erasca Stock Performance

Erasca stock opened at $1.63 on Tuesday. Erasca, Inc. has a 52 week low of $1.01 and a 52 week high of $3.45. The stock has a market capitalization of $461.76 million, a P/E ratio of -1.96 and a beta of 1.09. The stock has a 50-day simple moving average of $1.31 and a 200 day simple moving average of $1.77.

Erasca (NASDAQ:ERAS) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.01. Research analysts forecast that Erasca, Inc. will post -0.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.