Erasca (NASDAQ:ERAS) Insider Ebun Garner Sells 80,000 Shares

Erasca, Inc. (NASDAQ:ERAS) insider Ebun Garner sold 80,000 shares of Erasca stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $16.40, for a total value of $1,312,000.00. Following the sale, the insider owned 25,076 shares of the company’s stock, valued at approximately $411,246.40. This represents a 76.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ebun Garner also recently made the following trade(s):

• On Wednesday, January 7th, Ebun Garner sold 120,000 shares of Erasca stock. The stock was sold at an average price of $5.59, for a total value of $670,800.00.

Erasca Stock Performance

ERAS remained flat at $17.81 during midday trading on Friday. 5,476,166 shares of the company traded hands, compared to its average volume of 5,883,758. The stock has a market capitalization of $5.54 billion, a P/E ratio of -40.48 and a beta of 1.04. The company’s 50 day moving average price is $13.35 and its two-hundred day moving average price is $6.87. Erasca, Inc. has a 52-week low of $1.01 and a 52-week high of $18.18.

Erasca (NASDAQ:ERAS) last posted its earnings results on Thursday, March 19th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.01. On average, equities analysts forecast that Erasca, Inc. will post -0.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ERAS shares. Guggenheim upped their price objective on shares of Erasca from $12.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, March 16th. Mizuho raised their target price on Erasca from $16.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, March 13th. HC Wainwright boosted their price target on Erasca from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, March 13th. JPMorgan Chase & Co. increased their price objective on Erasca from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Wednesday, March 18th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Erasca in a research note on Thursday, January 22nd. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $16.63.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ERAS. BNP Paribas Financial Markets raised its holdings in Erasca by 58.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 21,579 shares of the company’s stock worth $27,000 after acquiring an additional 7,923 shares during the period. EP Wealth Advisors LLC acquired a new position in Erasca during the 2nd quarter worth $29,000. Russell Investments Group Ltd. bought a new stake in Erasca during the third quarter valued at about $31,000. SG Americas Securities LLC bought a new stake in Erasca during the third quarter valued at about $32,000. Finally, Crowley Wealth Management Inc. acquired a new stake in shares of Erasca in the third quarter valued at about $33,000. 67.78% of the stock is currently owned by institutional investors and hedge funds.

About Erasca

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.