Ebun Garner Sells 80,000 Shares of Erasca (NASDAQ:ERAS) Stock

Erasca, Inc. (NASDAQ:ERAS) insider Ebun Garner sold 80,000 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $16.40, for a total value of $1,312,000.00. Following the completion of the sale, the insider owned 25,076 shares of the company’s stock, valued at approximately $411,246.40. This trade represents a 76.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ebun Garner also recently made the following trade(s):

• On Wednesday, January 7th, Ebun Garner sold 120,000 shares of Erasca stock. The stock was sold at an average price of $5.59, for a total value of $670,800.00.

Erasca Price Performance

Shares of NASDAQ:ERAS opened at $17.81 on Friday. Erasca, Inc. has a 52-week low of $1.01 and a 52-week high of $18.18. The company has a 50 day moving average of $13.51 and a two-hundred day moving average of $7.02. The company has a market capitalization of $5.54 billion, a price-to-earnings ratio of -40.48 and a beta of 1.04.

Erasca (NASDAQ:ERAS) last posted its earnings results on Thursday, March 19th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. On average, equities analysts anticipate that Erasca, Inc. will post -0.73 earnings per share for the current year.

Hedge Funds Weigh In On Erasca

Several large investors have recently modified their holdings of ERAS. BNP Paribas Financial Markets grew its stake in Erasca by 58.0% in the second quarter. BNP Paribas Financial Markets now owns 21,579 shares of the company’s stock worth $27,000 after purchasing an additional 7,923 shares in the last quarter. EP Wealth Advisors LLC bought a new position in Erasca during the 2nd quarter worth approximately $29,000. Russell Investments Group Ltd. bought a new position in Erasca during the 3rd quarter worth approximately $31,000. SG Americas Securities LLC acquired a new position in shares of Erasca in the 3rd quarter worth approximately $32,000. Finally, Crowley Wealth Management Inc. acquired a new position in shares of Erasca in the 3rd quarter worth approximately $33,000. Institutional investors own 67.78% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Stifel Nicolaus set a $20.00 price objective on shares of Erasca in a research report on Tuesday, March 10th. Morgan Stanley set a $10.00 price target on Erasca in a research note on Monday, January 26th. Mizuho increased their price target on Erasca from $16.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, March 13th. Citigroup restated a “buy” rating on shares of Erasca in a research note on Friday, March 13th. Finally, Guggenheim lifted their price objective on Erasca from $12.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, March 16th. Seven equities research 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 data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.63.

Erasca Company Profile

Erasca, Inc is a clinical‐stage biopharmaceutical company dedicated to the discovery and development of precision medicines for patients with cancer. The company focuses on small molecule therapeutics that target critical signaling pathways involved in tumor growth and survival, with a primary emphasis on inhibitors of the MAPK pathway. Erasca’s approach is designed to deliver oral, targeted therapies that address both oncogene‐driven and immuno‐oncology indications, aiming to improve outcomes for patients with unmet medical needs.

Erasca’s pipeline comprises multiple development candidates, including small molecule inhibitors engineered to disrupt key nodes in cancer cell signaling.