Erasca, Inc. $ERAS is Affinity Asset Advisors LLC’s 3rd Largest Position

Affinity Asset Advisors LLC raised its position in shares of Erasca, Inc. (NASDAQ:ERAS) by 37.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,350,000 shares of the company’s stock after purchasing an additional 1,450,000 shares during the quarter. Erasca accounts for about 4.5% of Affinity Asset Advisors LLC’s investment portfolio, making the stock its 3rd largest position. Affinity Asset Advisors LLC owned approximately 1.72% of Erasca worth $86,563,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. VR Adviser LLC grew its holdings in Erasca by 10.1% during the 2nd quarter. VR Adviser LLC now owns 17,857,083 shares of the company’s stock valued at $22,678,000 after buying an additional 1,640,867 shares in the last quarter. Paradigm Biocapital Advisors LP grew its stake in Erasca by 4.4% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 14,159,095 shares of the company’s stock valued at $52,672,000 after acquiring an additional 599,078 shares in the last quarter. Vanguard Group Inc. grew its stake in Erasca by 0.9% during the third quarter. Vanguard Group Inc. now owns 12,811,832 shares of the company’s stock valued at $27,930,000 after acquiring an additional 116,235 shares in the last quarter. Siren L.L.C. increased its holdings in Erasca by 28.4% in the 1st quarter. Siren L.L.C. now owns 11,244,246 shares of the company’s stock valued at $181,932,000 after acquiring an additional 2,486,997 shares during the last quarter. Finally, Vivo Capital LLC lifted its stake in Erasca by 37.2% in the 3rd quarter. Vivo Capital LLC now owns 9,273,428 shares of the company’s stock worth $20,216,000 after purchasing an additional 2,516,672 shares in the last quarter. 67.78% of the stock is owned by hedge funds and other institutional investors.

Erasca Trading Down 1.2%

ERAS opened at $19.11 on Friday. Erasca, Inc. has a 12-month low of $1.33 and a 12-month high of $24.28. The firm has a 50 day moving average of $15.44 and a two-hundred day moving average of $13.92. The firm has a market capitalization of $5.94 billion, a PE ratio of -20.55 and a beta of 0.66.

Erasca (NASDAQ:ERAS) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.48). As a group, analysts predict that Erasca, Inc. will post -0.54 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on ERAS shares. HSBC set a $20.00 price target on shares of Erasca in a report on Tuesday, July 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Erasca in a report on Thursday, June 11th. Morgan Stanley boosted their target price on Erasca from $12.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, July 20th. HC Wainwright restated a “buy” rating on shares of Erasca in a research report on Tuesday, July 14th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Erasca in a research report on Tuesday, July 14th. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $21.64.

Key Stories Impacting Erasca

Here are the key news stories impacting Erasca this week:

• Neutral Sentiment: Several firms, including Rosen, Kaplan Fox, Faruqi & Faruqi, and others, reiterated the upcoming lead-plaintiff deadline in the Erasca class-action case, keeping investor attention focused on the lawsuit and potential damages. Article
• Neutral Sentiment: Bronstein, Gewirtz & Grossman, Pomerantz, Glancy Prongay, Schall, and other firms also publicized the pending securities-fraud action, underscoring that the litigation remains active and could weigh on sentiment. Article
• Negative Sentiment: The lawsuit alleges Erasca and certain executives misled investors about the competitive position, safety profile, and intellectual-property protection of its lead oncology candidate, ERAS-0015, which could increase legal risk and pressure the stock. Article

Erasca 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.