Affinity Asset Advisors LLC Grows Stock Holdings in Erasca, Inc. $ERAS

Affinity Asset Advisors LLC boosted its holdings in Erasca, Inc. (NASDAQ:ERAS) by 22.3% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 4,085,787 shares of the company’s stock after buying an additional 744,268 shares during the period. Affinity Asset Advisors LLC owned 1.44% of Erasca worth $5,189,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ERAS. Dynamic Technology Lab Private Ltd boosted its stake in shares of Erasca by 180.8% in the second quarter. Dynamic Technology Lab Private Ltd now owns 29,177 shares of the company’s stock worth $37,000 after acquiring an additional 18,788 shares during the period. Los Angeles Capital Management LLC purchased a new position in Erasca in the 2nd quarter worth approximately $45,000. Vanguard Personalized Indexing Management LLC boosted its stake in Erasca by 130.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 36,362 shares of the company’s stock worth $46,000 after purchasing an additional 20,558 shares during the period. New York State Common Retirement Fund grew its holdings in Erasca by 39.1% during the 2nd quarter. New York State Common Retirement Fund now owns 37,360 shares of the company’s stock valued at $47,000 after buying an additional 10,501 shares in the last quarter. Finally, Panagora Asset Management Inc. bought a new stake in shares of Erasca during the second quarter valued at approximately $63,000. 67.78% of the stock is currently owned by hedge funds and other institutional investors.

Erasca Stock Performance

Shares of ERAS stock opened at $3.27 on Friday. Erasca, Inc. has a 52-week low of $1.01 and a 52-week high of $3.38. The firm has a market capitalization of $927.73 million, a P/E ratio of -7.27 and a beta of 1.16. The stock has a 50 day moving average price of $2.56 and a 200 day moving average price of $1.88.

Erasca (NASDAQ:ERAS) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). As a group, sell-side analysts forecast that Erasca, Inc. will post -0.73 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ERAS shares. Morgan Stanley reaffirmed an “equal weight” rating and set a $2.00 target price (down from $4.00) on shares of Erasca in a research note on Monday, August 18th. Stifel Nicolaus set a $6.00 price target on Erasca in a research note on Thursday, November 6th. Wall Street Zen raised Erasca from a “sell” rating to a “hold” rating in a research note on Sunday, September 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Erasca in a research note on Wednesday, October 8th. Finally, Bank of America restated an “underperform” rating and issued a $1.00 target price (down from $4.00) on shares of Erasca in a report on Wednesday, September 3rd. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $4.00.

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.