Spruce Street Capital LP Acquires New Shares in Erasca, Inc. $ERAS

Spruce Street Capital LP acquired a new stake in Erasca, Inc. (NASDAQ:ERAS) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 3,889,632 shares of the company’s stock, valued at approximately $14,469,000. Erasca makes up approximately 4.8% of Spruce Street Capital LP’s holdings, making the stock its 9th largest holding.

Other large investors have also made changes to their positions in the company. BNP Paribas Financial Markets increased its position in shares of Erasca by 58.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 21,579 shares of the company’s stock valued at $27,000 after buying an additional 7,923 shares in the last quarter. EP Wealth Advisors LLC bought a new stake in shares of Erasca in the 2nd quarter valued at $29,000. Russell Investments Group Ltd. bought a new stake in shares of Erasca in the 3rd quarter valued at $31,000. Stifel Financial Corp bought a new position in Erasca during the 4th quarter worth about $38,000. Finally, EntryPoint Capital LLC bought a new position in Erasca during the 4th quarter worth about $38,000. Institutional investors own 67.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Wall Street Zen cut Erasca from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Citigroup reiterated a “buy” rating on shares of Erasca in a report on Friday, March 13th. Guggenheim increased their target price on Erasca from $12.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, March 16th. JPMorgan Chase & Co. increased their target price on Erasca from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Wednesday, March 18th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Erasca in a report on Thursday. Seven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Erasca has an average rating of “Moderate Buy” and an average price target of $20.11.

Key Erasca News

Here are the key news stories impacting Erasca this week:

• Positive Sentiment: No clearly positive company-specific catalysts were reported in the latest batch of articles.
• Neutral Sentiment: Multiple law firms, including Rosen, Robbins LLP, Faruqi & Faruqi, Howard G. Smith, and Robbins Geller, issued reminders that investors who bought Erasca stock during the class period may seek lead-plaintiff status, with a deadline of August 10, 2026. Article Title
• Neutral Sentiment: Another notice repeated the pending lawsuit details and class period, reinforcing legal overhang rather than adding new operational news. Article Title
• Negative Sentiment: The most damaging report said Erasca faces a securities class action after a sharp prior selloff linked to allegations that Revolution Medicines accused the company of patent infringement over ERAS-0015 and that a patient died after receiving the candidate, adding both litigation and clinical-risk concerns. Article Title
• Negative Sentiment: Additional investor alerts alleged Erasca concealed patent-infringement risk and improper preclinical comparisons while raising capital, which could weigh on investor confidence and keep the stock under pressure. Article Title

Erasca Trading Up 2.7%

ERAS stock opened at $14.43 on Tuesday. The stock has a market cap of $4.49 billion, a PE ratio of -15.52 and a beta of 0.73. The stock has a 50-day moving average price of $14.15 and a two-hundred day moving average price of $11.10. Erasca, Inc. has a 1 year low of $1.21 and a 1 year high of $24.28.

Erasca (NASDAQ:ERAS) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.48). On average, analysts forecast that Erasca, Inc. will post -0.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Erasca

In other news, insider Ebun Garner sold 80,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider owned 25,076 shares in the company, valued at $411,246.40. This trade represents a 76.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 14.20% of the stock is owned by insiders.

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.