OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 159,600 Shares of Erasca, Inc. (NASDAQ:ERAS)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Erasca, Inc. (NASDAQ:ERAS) by 228.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 229,600 shares of the company’s stock after acquiring an additional 159,600 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.08% of Erasca worth $576,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. China Universal Asset Management Co. Ltd. boosted its position in Erasca by 10.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 59,949 shares of the company’s stock worth $150,000 after purchasing an additional 5,614 shares during the period. New York State Common Retirement Fund boosted its holdings in shares of Erasca by 42.4% during the 4th quarter. New York State Common Retirement Fund now owns 26,859 shares of the company’s stock worth $67,000 after buying an additional 8,000 shares during the period. MetLife Investment Management LLC grew its stake in Erasca by 8.7% in the 4th quarter. MetLife Investment Management LLC now owns 112,725 shares of the company’s stock valued at $283,000 after buying an additional 9,039 shares during the last quarter. Hsbc Holdings PLC grew its stake in Erasca by 57.3% in the 4th quarter. Hsbc Holdings PLC now owns 28,714 shares of the company’s stock valued at $73,000 after buying an additional 10,458 shares during the last quarter. Finally, AXQ Capital LP bought a new position in Erasca in the 4th quarter worth $27,000. 67.78% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ERAS. Morgan Stanley reaffirmed an “overweight” rating and issued a $4.00 price target on shares of Erasca in a research report on Friday, March 7th. The Goldman Sachs Group lowered their target price on Erasca from $3.50 to $3.00 and set a “buy” rating on the stock in a report on Friday, March 21st. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 price target on shares of Erasca in a research report on Wednesday, April 30th. Finally, Raymond James assumed coverage on Erasca in a research report on Wednesday, March 26th. They issued an “outperform” rating and a $5.00 price objective for the company. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Erasca presently has an average rating of “Buy” and an average price target of $4.83.

Erasca Stock Down 4.3%

ERAS stock opened at $1.33 on Wednesday. Erasca, Inc. has a twelve month low of $1.01 and a twelve month high of $3.45. The company has a market cap of $376.77 million, a PE ratio of -1.60 and a beta of 1.12. The business’s 50-day simple moving average is $1.35 and its 200 day simple moving average is $1.98.

Erasca (NASDAQ:ERAS) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.01. On average, equities research analysts anticipate that Erasca, Inc. will post -0.73 EPS for the current year.

About Erasca

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.