Key Points
- Insider Ebun Garner sold 80,000 shares on April 1 at an average price of $16.40 for a total of $1.312M, cutting her stake to 25,076 shares (a 76.14% decrease) under a pre-arranged Rule 10b5-1 trading plan.
- ERAS shares have been volatile but recently traded near their 1‑year high, opening at $17.81 with a 50‑day/200‑day moving average of $13.51/$6.98 and a market capitalization of about $5.54 billion.
- Analyst sentiment is generally positive with an average rating of "Moderate Buy" and a mean target of $16.63, while several firms have raised targets (JPMorgan's target is now $25).
Erasca, Inc. (NASDAQ:ERAS - Get Free Report) insider Ebun Garner sold 80,000 shares of the firm's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $16.40, for a total value of $1,312,000.00. Following the transaction, the insider directly owned 25,076 shares of the company's stock, valued at approximately $411,246.40. This represents a 76.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 shares were sold at an average price of $5.59, for a total value of $670,800.00.
Erasca Price Performance
Shares of ERAS opened at $17.81 on Friday. The business has a 50-day moving average of $13.51 and a 200-day moving average of $6.98. 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, Inc. has a 1 year low of $1.01 and a 1 year high of $18.18.
Erasca (NASDAQ:ERAS - Get Free Report) last announced its earnings results on Thursday, March 19th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.01. As a group, sell-side analysts anticipate that Erasca, Inc. will post -0.73 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC increased its stake in Erasca by 594.8% during the 1st quarter. AQR Capital Management LLC now owns 396,202 shares of the company's stock valued at $543,000 after purchasing an additional 339,177 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Erasca by 1.6% during the second quarter. Geode Capital Management LLC now owns 4,835,642 shares of the company's stock valued at $6,143,000 after buying an additional 77,790 shares during the last quarter. Creative Planning increased its position in shares of Erasca by 423.3% during the second quarter. Creative Planning now owns 244,332 shares of the company's stock worth $310,000 after acquiring an additional 197,637 shares in the last quarter. New York State Common Retirement Fund increased its position in shares of Erasca by 39.1% during the second quarter. New York State Common Retirement Fund now owns 37,360 shares of the company's stock worth $47,000 after acquiring an additional 10,501 shares in the last quarter. Finally, Panagora Asset Management Inc. acquired a new stake in shares of Erasca in the 2nd quarter worth about $63,000. 67.78% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
ERAS has been the subject of a number of analyst reports. Citigroup reissued a "buy" rating on shares of Erasca in a research note on Friday, March 13th. Piper Sandler increased their price target on Erasca from $11.00 to $18.00 and gave the stock an "overweight" rating in a report on Friday, March 13th. HC Wainwright lifted their price objective on Erasca from $15.00 to $20.00 and gave the stock a "buy" rating in a research report on Friday, March 13th. Mizuho boosted their price objective on Erasca from $16.00 to $19.00 and gave the company an "outperform" rating in a research note on Friday, March 13th. Finally, JPMorgan Chase & Co. upped their target price on Erasca from $24.00 to $25.00 and gave the company an "overweight" rating in a research report on Wednesday, March 18th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Erasca currently has an average rating of "Moderate Buy" and an average target price of $16.63.
Get Our Latest Stock Report on ERAS
Erasca Company Profile
(
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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