Insider Selling: Erasca (NASDAQ:ERAS) General Counsel Sells $670,800.00 in Stock

Erasca, Inc. (NASDAQ:ERAS) General Counsel Ebun Garner sold 120,000 shares of the stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $5.59, for a total transaction of $670,800.00. Following the completion of the sale, the general counsel directly owned 25,076 shares in the company, valued at $140,174.84. This trade represents a 82.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Erasca Price Performance

Shares of NASDAQ:ERAS opened at $6.76 on Friday. The firm has a market capitalization of $1.92 billion, a PE ratio of -15.02 and a beta of 1.15. The business has a 50 day simple moving average of $3.28 and a two-hundred day simple moving average of $2.30. Erasca, Inc. has a 1 year low of $1.01 and a 1 year high of $6.85.

Erasca (NASDAQ:ERAS) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate of ($0.11). Equities research analysts expect that Erasca, Inc. will post -0.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Erasca

Hedge funds and other institutional investors have recently modified their holdings of the business. Frazier Life Sciences Management L.P. increased its holdings in Erasca by 0.7% during the second quarter. Frazier Life Sciences Management L.P. now owns 22,729,436 shares of the company’s stock valued at $28,866,000 after buying an additional 153,585 shares during the period. VR Adviser LLC increased its holdings in shares of Erasca by 10.1% in the 2nd quarter. VR Adviser LLC now owns 17,857,083 shares of the company’s stock valued at $22,678,000 after acquiring an additional 1,640,867 shares during the period. Paradigm Biocapital Advisors LP raised its position in shares of Erasca by 13.9% in the 3rd quarter. Paradigm Biocapital Advisors LP now owns 13,560,017 shares of the company’s stock worth $29,561,000 after acquiring an additional 1,652,835 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Erasca by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 12,811,832 shares of the company’s stock worth $27,930,000 after purchasing an additional 116,235 shares during the last quarter. Finally, Vivo Capital LLC boosted its position in Erasca by 37.2% during the third quarter. Vivo Capital LLC now owns 9,273,428 shares of the company’s stock valued at $20,216,000 after purchasing an additional 2,516,672 shares in the last quarter. 67.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ERAS has been the subject of a number of recent analyst reports. Guggenheim boosted their target price on shares of Erasca from $3.00 to $5.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Mizuho boosted their price objective on shares of Erasca from $4.00 to $5.00 and gave the company an “outperform” rating in a research report on Tuesday, December 9th. Morgan Stanley set a $4.00 target price on shares of Erasca in a research note on Thursday. Piper Sandler began coverage on shares of Erasca in a research note on Wednesday. They set an “overweight” rating and a $5.00 price target for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Erasca in a report on Wednesday, October 8th. Seven 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. Based on data from MarketBeat.com, Erasca currently has a consensus rating of “Moderate Buy” and an average price target of $4.44.

About Erasca

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.