GSA Capital Partners LLP Has $1.17 Million Stock Position in Erasca, Inc. (NASDAQ:ERAS)

GSA Capital Partners LLP lowered its stake in shares of Erasca, Inc. (NASDAQ:ERAS) by 14.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 569,039 shares of the company’s stock after selling 98,810 shares during the period. GSA Capital Partners LLP’s holdings in Erasca were worth $1,172,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Pennant Investors LP acquired a new stake in shares of Erasca in the 4th quarter worth about $354,000. Sanders Morris Harris LLC raised its holdings in shares of Erasca by 35.2% in the 4th quarter. Sanders Morris Harris LLC now owns 575,189 shares of the company’s stock worth $1,252,000 after acquiring an additional 149,892 shares during the last quarter. Pale Fire Capital SE raised its holdings in shares of Erasca by 342.0% in the 4th quarter. Pale Fire Capital SE now owns 186,101 shares of the company’s stock worth $396,000 after acquiring an additional 144,000 shares during the last quarter. Sierra Summit Advisors LLC acquired a new stake in shares of Erasca in the 4th quarter worth about $225,000. Finally, Bailard Inc. acquired a new stake in shares of Erasca in the 4th quarter worth about $106,000. Institutional investors and hedge funds own 67.78% of the company’s stock.

Erasca Stock Up 0.7 %

ERAS traded up $0.02 on Wednesday, hitting $2.73. The company’s stock had a trading volume of 2,307,170 shares, compared to its average volume of 1,395,747. The company’s 50 day simple moving average is $2.25 and its 200-day simple moving average is $2.10. The firm has a market cap of $473.27 million, a P/E ratio of -3.29 and a beta of 1.16. Erasca, Inc. has a 12 month low of $1.51 and a 12 month high of $2.97.

Erasca (NASDAQ:ERAS) last posted its earnings results on Wednesday, May 8th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02). Equities analysts predict that Erasca, Inc. will post -0.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ERAS shares. HC Wainwright reduced their price objective on shares of Erasca from $8.00 to $5.00 and set a “buy” rating for the company in a research report on Monday, May 20th. The Goldman Sachs Group reduced their target price on shares of Erasca from $7.00 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, May 28th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Erasca currently has a consensus rating of “Moderate Buy” and an average target price of $6.00.

Insiders Place Their Bets

In other news, Director Alexander W. Casdin bought 80,000 shares of the stock in a transaction on Tuesday, May 21st. The shares were acquired at an average cost of $2.27 per share, for a total transaction of $181,600.00. Following the purchase, the director now directly owns 573,974 shares of the company’s stock, valued at approximately $1,302,920.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 21.50% of the company’s stock.

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.