Wellington Management Group LLP Has $1.17 Million Holdings in Erasca, Inc. $ERAS

Wellington Management Group LLP lifted its holdings in shares of Erasca, Inc. (NASDAQ:ERAS) by 82.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 850,147 shares of the company’s stock after purchasing an additional 384,475 shares during the period. Wellington Management Group LLP owned 0.30% of Erasca worth $1,165,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Mackenzie Financial Corp acquired a new position in shares of Erasca during the fourth quarter worth $28,000. Wealth Enhancement Advisory Services LLC bought a new position in Erasca during the first quarter worth $39,000. Brevan Howard Capital Management LP bought a new position in Erasca during the fourth quarter worth $41,000. Cerity Partners LLC bought a new position in Erasca during the first quarter worth $49,000. Finally, CWM LLC raised its stake in Erasca by 1,907.2% during the first quarter. CWM LLC now owns 36,250 shares of the company’s stock worth $50,000 after buying an additional 34,444 shares during the last quarter. Institutional investors and hedge funds own 67.78% of the company’s stock.

Analyst Ratings Changes

ERAS has been the subject of a number of analyst reports. Wall Street Zen raised shares of Erasca from a “sell” rating to a “hold” rating in a research note on Saturday. Morgan Stanley reissued an “equal weight” rating and set a $2.00 target price (down previously from $4.00) on shares of Erasca in a research note on Monday, August 18th. Finally, Guggenheim set a $3.00 target price on shares of Erasca and gave the stock a “buy” rating in a research note on Wednesday, May 14th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Erasca currently has a consensus rating of “Moderate Buy” and a consensus target price of $4.29.

Erasca Stock Performance

ERAS opened at $1.57 on Monday. Erasca, Inc. has a 1-year low of $1.01 and a 1-year high of $3.31. The company has a market cap of $445.36 million, a P/E ratio of -3.49 and a beta of 1.08. The company has a fifty day moving average price of $1.50 and a two-hundred day moving average price of $1.42.

Erasca (NASDAQ:ERAS) last posted its quarterly earnings results on Tuesday, August 12th. The company reported ($0.12) earnings per share for the quarter, meeting the consensus estimate of ($0.12). On average, research analysts forecast 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.