Erasca, Inc. (NASDAQ:ERAS) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its stake in Erasca, Inc. (NASDAQ:ERAS) by 29.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,723,630 shares of the company’s stock after acquiring an additional 390,209 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Erasca were worth $4,706,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Federated Hermes Inc. acquired a new position in Erasca in the second quarter valued at $31,000. Sei Investments Co. acquired a new position in Erasca in the second quarter valued at $39,000. Creative Planning increased its stake in Erasca by 23.0% in the third quarter. Creative Planning now owns 20,014 shares of the company’s stock valued at $55,000 after purchasing an additional 3,737 shares during the period. Victory Capital Management Inc. increased its stake in shares of Erasca by 82.2% during the second quarter. Victory Capital Management Inc. now owns 21,479 shares of the company’s stock worth $51,000 after acquiring an additional 9,689 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Erasca by 27.0% during the second quarter. The Manufacturers Life Insurance Company now owns 47,861 shares of the company’s stock worth $113,000 after acquiring an additional 10,164 shares during the period. 67.78% of the stock is owned by hedge funds and other institutional investors.

Erasca Stock Down 2.7 %

Erasca stock opened at $2.56 on Friday. Erasca, Inc. has a 52-week low of $1.64 and a 52-week high of $3.45. The firm has a fifty day moving average of $2.81 and a 200-day moving average of $2.71. The firm has a market capitalization of $723.79 million, a P/E ratio of -3.08 and a beta of 1.20.

Erasca (NASDAQ:ERAS) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.06. On average, research analysts expect that Erasca, Inc. will post -0.73 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ERAS. Jefferies Financial Group assumed coverage on shares of Erasca in a research note on Monday, November 18th. They set a “buy” rating and a $6.00 price target on the stock. The Goldman Sachs Group upped their price objective on shares of Erasca from $3.00 to $3.50 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, HC Wainwright reissued a “buy” rating and set a $6.00 price objective on shares of Erasca in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $5.90.

Erasca 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.