Shares of Erasca, Inc. (NASDAQ:ERAS – Get Rating) gapped down prior to trading on Wednesday . The stock had previously closed at $7.39, but opened at $7.23. Erasca shares last traded at $7.36, with a volume of 4,717 shares changing hands.
Erasca Stock Up 3.3 %
The firm has a market cap of $906.33 million, a PE ratio of -5.58 and a beta of 1.10. The firm’s 50 day moving average is $8.40 and its 200-day moving average is $7.67.
Hedge Funds Weigh In On Erasca
Several institutional investors and hedge funds have recently modified their holdings of ERAS. ARCH Venture Management LLC purchased a new position in shares of Erasca during the fourth quarter valued at approximately $172,246,000. Vanguard Group Inc. lifted its stake in shares of Erasca by 202.8% during the first quarter. Vanguard Group Inc. now owns 4,926,864 shares of the company’s stock valued at $42,371,000 after buying an additional 3,299,572 shares during the period. BlackRock Inc. lifted its stake in shares of Erasca by 103.9% during the first quarter. BlackRock Inc. now owns 3,850,410 shares of the company’s stock valued at $33,114,000 after buying an additional 1,961,965 shares during the period. Regents of The University of California purchased a new position in shares of Erasca during the second quarter valued at approximately $5,075,000. Finally, EDBI Pte Ltd purchased a new position in shares of Erasca during the fourth quarter valued at approximately $13,849,000. Hedge funds and other institutional investors own 63.00% of the company’s stock.
Erasca Company Profile
Erasca, Inc, a clinical-stage biopharmaceutical company, focuses on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers. The company’s lead candidates include ERAS-007, an oral inhibitor of ERK1/2 for the treatment of non-small cell lung cancer, colorectal cancer, and acute myeloid leukemia; and ERAS-601, an oral SHP2 inhibitor for patients with advanced or metastatic solid tumors.
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