Shares of Erasca, Inc. (NASDAQ:ERAS – Get Rating) traded up 3.4% on Friday . The company traded as high as $4.33 and last traded at $4.26. 19,904 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 1,558,398 shares. The stock had previously closed at $4.12.
Erasca Price Performance
The firm has a market cap of $527.37 million, a PE ratio of -3.72 and a beta of 0.99. The business has a 50-day moving average price of $6.47 and a two-hundred day moving average price of $7.22.
Get Erasca alerts:Erasca (NASDAQ:ERAS – Get Rating) last posted its quarterly earnings data on Wednesday, November 9th. The company reported ($0.29) EPS for the quarter, beating analysts' consensus estimates of ($0.31) by $0.02. Equities analysts expect that Erasca, Inc. will post -1.2 earnings per share for the current fiscal year.
Insider Activity at Erasca
In related news, Director Bihua Chen acquired 307,692 shares of the firm's stock in a transaction that occurred on Tuesday, December 13th. The shares were acquired at an average price of $6.50 per share, with a total value of $1,999,998.00. Following the completion of the purchase, the director now directly owns 10,813,246 shares in the company, valued at $70,286,099. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other Erasca news, Director Valerie Denise Harding Start purchased 10,000 shares of the firm's stock in a transaction on Wednesday, December 21st. The shares were purchased at an average cost of $4.64 per share, with a total value of $46,400.00. Following the purchase, the director now owns 10,000 shares in the company, valued at $46,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bihua Chen purchased 307,692 shares of the firm's stock in a transaction on Tuesday, December 13th. The stock was acquired at an average cost of $6.50 per share, for a total transaction of $1,999,998.00. Following the completion of the purchase, the director now owns 10,813,246 shares in the company, valued at approximately $70,286,099. The disclosure for this purchase can be found here. Insiders have purchased a total of 377,692 shares of company stock valued at $2,343,398 over the last quarter. Insiders own 37.50% of the company's stock.Institutional Trading of Erasca
A number of hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Erasca in the 2nd quarter valued at about $27,000. Ameritas Investment Partners Inc. lifted its stake in shares of Erasca by 212.7% in the 1st quarter. Ameritas Investment Partners Inc. now owns 4,957 shares of the company's stock valued at $43,000 after purchasing an additional 3,372 shares in the last quarter. Amalgamated Bank acquired a new position in shares of Erasca in the 1st quarter valued at about $64,000. Teacher Retirement System of Texas acquired a new position in shares of Erasca in the 3rd quarter valued at about $78,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in shares of Erasca in the 3rd quarter valued at about $79,000. 65.75% of the stock is owned by institutional investors and hedge funds.
About Erasca
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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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