Tema ETFs LLC Sells 44,439 Shares of Erasca, Inc. $ERAS

Tema ETFs LLC decreased its position in shares of Erasca, Inc. (NASDAQ:ERAS) by 19.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 182,438 shares of the company’s stock after selling 44,439 shares during the quarter. Tema ETFs LLC’s holdings in Erasca were worth $3,342,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Spruce Street Capital LP bought a new position in Erasca in the 4th quarter valued at approximately $14,469,000. Janus Henderson Group PLC bought a new position in shares of Erasca during the first quarter valued at $59,988,000. Commodore Capital LP purchased a new stake in shares of Erasca during the first quarter valued at $51,372,000. Vivo Capital LLC boosted its position in shares of Erasca by 31.0% during the first quarter. Vivo Capital LLC now owns 12,151,480 shares of the company’s stock valued at $196,611,000 after buying an additional 2,878,052 shares during the last quarter. Finally, Siren L.L.C. increased its holdings in Erasca by 28.4% in the 1st quarter. Siren L.L.C. now owns 11,244,246 shares of the company’s stock worth $181,932,000 after buying an additional 2,486,997 shares in the last quarter. 67.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ERAS shares. Stifel Nicolaus raised 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. Wall Street Zen cut shares of Erasca from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Bank of America lifted their target price on shares of Erasca from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. HSBC set a $20.00 price target on Erasca in a report on Tuesday, July 14th. Finally, Morgan Stanley upped their price objective on Erasca from $12.00 to $21.00 and gave the company an “equal weight” rating in a research report on Monday, July 20th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.82.

Erasca Price Performance

NASDAQ:ERAS opened at $18.58 on Thursday. Erasca, Inc. has a one year low of $1.33 and a one year high of $24.28. The business has a fifty day moving average price of $17.09 and a 200-day moving average price of $14.95. The firm has a market capitalization of $5.78 billion, a price-to-earnings ratio of -19.56 and a beta of 0.66.

Erasca (NASDAQ:ERAS) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.03). On average, equities research analysts expect that Erasca, Inc. will post -0.54 earnings per share for the current fiscal year.

Erasca 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.