Key Points
- General Counsel Ebun Garner sold 120,000 shares on Jan. 7 at an average price of $5.59 for proceeds of $670,800, cutting her ownership by ~82.7% to 25,076 shares (valued ~$140,175), according to an SEC filing.
- ERAS stock jumped about 12.4% (opened $5.81) amid heightened volatility; the company has a $1.65B market cap, a 12‑month range of $1.01–$6.49, and a consensus "Moderate Buy" analyst rating with an average price target of $4.44.
Erasca, Inc. (NASDAQ:ERAS - Get Free Report) General Counsel Ebun Garner sold 120,000 shares of Erasca stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $5.59, for a total value of $670,800.00. Following the completion of the transaction, the general counsel owned 25,076 shares of the company's stock, valued at $140,174.84. This trade represents a 82.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Erasca Trading Up 12.4%
ERAS stock opened at $5.81 on Friday. Erasca, Inc. has a 12-month low of $1.01 and a 12-month high of $6.49. The stock's 50 day simple moving average is $3.19 and its 200 day simple moving average is $2.25. The firm has a market cap of $1.65 billion, a P/E ratio of -12.91 and a beta of 1.15.
Erasca (NASDAQ:ERAS - Get Free Report) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.11). On average, research analysts forecast that Erasca, Inc. will post -0.73 EPS for the current fiscal year.
Wall Street Analyst Weigh In
ERAS has been the topic of several analyst reports. Guggenheim increased their target price on Erasca from $3.00 to $5.00 and gave the stock a "buy" rating in a research report on Friday, November 14th. Stifel Nicolaus set a $6.00 price objective on shares of Erasca in a report on Thursday, November 6th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Erasca in a research report on Wednesday, October 8th. Piper Sandler assumed coverage on shares of Erasca in a research report on Wednesday. They issued an "overweight" rating and a $5.00 target price for the company. Finally, Wall Street Zen raised Erasca from a "sell" rating to a "hold" rating in a report on Sunday, September 21st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $4.44.
Read Our Latest Stock Report on ERAS
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the company. CIBC Bancorp USA Inc. acquired a new position in Erasca during the third quarter worth about $40,000. Vivo Capital LLC grew its stake in shares of 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 during the last quarter. Paradigm Biocapital Advisors LP raised its holdings 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 purchasing an additional 1,652,835 shares in the last quarter. Creative Planning increased its holdings in shares of Erasca by 43.4% in the third quarter. Creative Planning now owns 350,314 shares of the company's stock valued at $764,000 after buying an additional 105,982 shares in the last quarter. Finally, Qtron Investments LLC raised its position in shares of Erasca by 219.9% during the third quarter. Qtron Investments LLC now owns 33,593 shares of the company's stock worth $73,000 after purchasing an additional 23,092 shares during the period. Institutional investors own 67.78% of the company's stock.
Key Erasca News
Here are the key news stories impacting Erasca this week:
- Positive Sentiment: Piper Sandler initiated coverage of Erasca with an "overweight" rating — a fresh buy-side analyst view that can attract investor interest and buying pressure. Piper Sandler initiates coverage of Erasca (ERAS) with overweight recommendation
- Neutral Sentiment: Multiple LULD (Limit Up/Limit Down) trading halts on Jan 7 and Jan 8 indicate elevated intraday volatility and rapid price moves; halts are market-protection events that can amplify volume and short-term swings but don't by themselves change fundamentals.
- Neutral Sentiment: Sector noise: a takeover rumor involving Revolution Medicines/AbbVie lifted biotech risk appetite today and likely spilled over into peer names, including Erasca, helping lift the stock. Revolution Medicines jumps on report AbbVie nears takeover
- Negative Sentiment: Insider selling: General Counsel Ebun Garner sold 120,000 shares at an average $5.59 (disclosed in an SEC filing), cutting her direct ownership by ~82.7% — a sizable insider sale that can weigh on investor confidence. SEC ownership filing
About Erasca
(
Get Free Report)
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.
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