Seven Fleet Capital Management LP Acquires New Stake in Erasca, Inc. $ERAS

Seven Fleet Capital Management LP acquired a new stake in shares of Erasca, Inc. (NASDAQ:ERAS) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 222,468 shares of the company’s stock, valued at approximately $3,600,000. Erasca comprises 1.1% of Seven Fleet Capital Management LP’s holdings, making the stock its 21st biggest holding.

Several other hedge funds have also added to or reduced their stakes in ERAS. Vivo Capital LLC grew its stake in shares of Erasca by 31.0% in the first quarter. Vivo Capital LLC now owns 12,151,480 shares of the company’s stock worth $196,611,000 after acquiring an additional 2,878,052 shares during the last quarter. Bank of America Corp DE raised its position in shares of Erasca by 89.6% in the 1st quarter. Bank of America Corp DE now owns 3,055,897 shares of the company’s stock worth $49,444,000 after purchasing an additional 1,444,047 shares during the last quarter. Stempoint Capital LP purchased a new position in shares of Erasca in the 1st quarter worth about $3,881,000. Janus Henderson Group PLC bought a new position in Erasca in the 1st quarter worth about $59,988,000. Finally, ADAR1 Capital Management LLC bought a new position in Erasca in the 1st quarter worth about $162,000. 67.78% of the stock is owned by institutional investors.

Erasca News Roundup

Here are the key news stories impacting Erasca this week:

• Neutral Sentiment: Multiple law firms reminded investors that August 10, 2026 is the deadline to seek appointment as lead plaintiff in a securities class action covering purchases of Erasca shares from January 14, 2025, through April 26, 2026. These announcements are largely investor-solicitation notices rather than separate new lawsuits. Bronstein Gewirtz Grossman class action announcement
• Negative Sentiment: The pending class action alleges that Erasca and certain senior executives misled investors about ERAS-0015’s competitive advantages, safety profile and intellectual-property protection. The allegations reportedly include claims that investors were given an overly favorable view of the program while the company raised approximately $258.8 million. Hagens Berman Erasca investigation
• Negative Sentiment: The litigation creates legal, financial and reputational risks for Erasca (ERAS), while potentially increasing investor uncertainty around ERAS-0015’s development prospects and commercial opportunity. The provided reports do not indicate a new company response or court finding, and the allegations have not been proven. Hagens Berman patent and safety risks announcement

Analyst Ratings Changes

Several analysts recently commented on ERAS shares. Wolfe Research set a $16.00 price objective on shares of Erasca in a research report on Thursday, June 4th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Erasca in a report on Tuesday, July 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Erasca in a research note on Thursday, June 11th. Stifel Nicolaus increased their price target on shares of Erasca from $20.00 to $30.00 and gave the company a “buy” rating in a report on Monday, April 27th. Finally, Wall Street Zen downgraded shares of Erasca from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Erasca currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.64.

Erasca Stock Down 2.8%

Erasca stock opened at $18.15 on Friday. The business has a 50-day simple moving average of $16.18 and a two-hundred day simple moving average of $14.38. The company has a market cap of $5.64 billion, a P/E ratio of -19.52 and a beta of 0.66. Erasca, Inc. has a 52-week low of $1.33 and a 52-week high of $24.28.

Erasca (NASDAQ:ERAS) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.48). Research analysts anticipate that Erasca, Inc. will post -0.54 EPS for the current fiscal year.

Erasca Company Profile

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.