SG Americas Securities LLC reduced its stock position in Erasca, Inc. (NASDAQ:ERAS)

SG Americas Securities LLC reduced its holdings in shares of Erasca, Inc. (NASDAQ:ERAS – Free Report) by 38.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,890 shares of the company’s stock after selling 14,107 shares during the quarter. SG Americas Securities LLC’s holdings in Erasca were worth $54,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Erasca by 14.4% in the first quarter. Vanguard Group Inc. now owns 4,338,108 shares of the company’s stock worth $8,937,000 after purchasing an additional 545,765 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Erasca by 286.5% in the first quarter. Acadian Asset Management LLC now owns 346,953 shares of the company’s stock worth $713,000 after acquiring an additional 257,174 shares during the period. CVI Holdings LLC bought a new stake in shares of Erasca in the first quarter worth approximately $3,000,000. Sierra Summit Advisors LLC purchased a new position in Erasca in the fourth quarter valued at about $225,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Erasca in the first quarter valued at $216,000. 67.78% of the shares are held by hedge funds and other institutional investors.

Analysts on Wall Street are forecasting an increase

Several analysts have issued reports on ERAS shares. HC Wainwright boosted their target price on Erasca from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Goldman Sachs Group reduced their price objective on Erasca from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Erasca currently has a consensus rating of “Moderate Buy” and a consensus price target of $6.00, according to MarketBeat.com.

See our latest research report on Erasca

Erasca Price Performance

Shares of ERAS stock opened at $2.72 on Wednesday. Erasca, Inc. has a 1 year low of $1.51 and a 1 year high of $3.45. The company’s fifty day simple moving average is $2.68 and two hundred day simple moving average is $2.33. The stock has a market cap of $471.54 million, a price-to-earnings ratio of -3.24 and a beta of 1.17.

Erasca (NASDAQ:ERAS – Get Free Report ) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.12). Equities research analysts anticipate that Erasca, Inc. will post -0.77 EPS for the current year.

About Erasca

(Free Report)

Erasca, Inc, a clinical-stage precision oncology company, is focused on discovering, developing and commercializing therapies for patients with cancers driven by the RAS/MAPK pathway. The company’s lead product is naporafenib, which is in a Phase 1b trial for patients with RAS Q16X solid tumors and plans to initiate a pivotal Phase 3 trial for patients with NRASm melanoma.

See Also

Want to see what other hedge funds hold ERAS? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Erasca, Inc. (NASDAQ:ERAS – Free Report).

Get news and reviews for Erasca Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Erasca and related companies with MarketBeat.com’s FREE daily email newsletter.