Walleye Capital LLC acquired a new stake in Erasca, Inc. (NASDAQ:ERAS – Get Rating) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 66,191 shares of the company’s stock, valued at approximately $569,000.
Other hedge funds have also recently modified their holdings of the company. Ameritas Investment Partners Inc. raised its position in Erasca by 212.7% during the first quarter. Ameritas Investment Partners Inc. now owns 4,957 shares of the company’s stock valued at $43,000 after acquiring an additional 3,372 shares in the last quarter. Virtus ETF Advisers LLC purchased a new position in shares of Erasca during the 4th quarter valued at approximately $190,000. Oppenheimer & Co. Inc. acquired a new position in shares of Erasca in the 1st quarter valued at $113,000. Sanders Morris Harris LLC purchased a new stake in Erasca during the first quarter worth $116,000. Finally, Invesco Ltd. grew its position in Erasca by 54.1% during the first quarter. Invesco Ltd. now owns 16,556 shares of the company’s stock valued at $143,000 after buying an additional 5,809 shares during the period. Hedge funds and other institutional investors own 63.00% of the company’s stock.
Erasca Stock Performance
ERAS opened at $7.18 on Thursday. The company has a fifty day moving average of $8.39 and a two-hundred day moving average of $7.70. Erasca, Inc. has a fifty-two week low of $4.51 and a fifty-two week high of $22.94. The stock has a market capitalization of $877.02 million, a price-to-earnings ratio of -5.40 and a beta of 1.10.
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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