21,000 Shares in Erasca, Inc. (NASDAQ:ERAS) Purchased by Integrated Wealth Concepts LLC

Posted by Defense World Staff on Aug 8th, 2023

Integrated Wealth Concepts LLC bought a new stake in Erasca, Inc. (NASDAQ:ERAS – Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 21,000 shares of the company’s stock, valued at approximately $63,000.

Other institutional investors also recently added to or reduced their stakes in the company. Armistice Capital LLC bought a new position in Erasca during the fourth quarter worth $11,637,000. Artal Group S.A. lifted its stake in shares of Erasca by 48.5% in the fourth quarter. Artal Group S.A. now owns 4,710,682 shares of the company’s stock valued at $20,303,000 after buying an additional 1,538,461 shares during the period. Oppenheimer & Co. Inc. raised its holdings in Erasca by 100.0% in the 4th quarter. Oppenheimer & Co. Inc. now owns 26,287 shares of the company’s stock valued at $113,000 after acquiring an additional 13,143 shares in the last quarter. Edge Capital Group LLC acquired a new stake in shares of Erasca during the 4th quarter worth approximately $896,000. Finally, Wells Fargo & Company MN increased its position in shares of Erasca by 1,180.1% during the fourth quarter. Wells Fargo & Company MN now owns 10,100 shares of the company’s stock valued at $44,000 after purchasing an additional 9,311 shares during the period. 51.76% of the stock is owned by institutional investors.

Insider Activity at Erasca

In other Erasca news, CEO Jonathan E. Lim acquired 100,000 shares of Erasca stock in a transaction on Thursday, June 8th. The shares were bought at an average price of $2.75 per share, with a total value of $275,000.00. Following the completion of the purchase, the chief executive officer now owns 18,396,216 shares in the company, valued at $50,589,594. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 29.80% of the company’s stock.

Erasca Price Performance

Shares of NASDAQ ERAS opened at $2.62 on Tuesday. The business has a fifty day moving average of $2.73 and a two-hundred day moving average of $3.07. Erasca, Inc. has a 52-week low of $2.45 and a 52-week high of $10.74.

Erasca (NASDAQ:ERAS – Get Free Report) last posted its quarterly earnings data on Monday, May 15th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.08. As a group, equities analysts forecast that Erasca, Inc. will post -1.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ERAS has been the topic of several analyst reports. Evercore ISI lowered their price target on shares of Erasca from $20.00 to $11.00 in a report on Tuesday, June 6th. Mizuho cut their price target on shares of Erasca from $9.00 to $8.00 in a research note on Tuesday, June 6th.

Get Our Latest Research Report on ERAS

Erasca Company Profile

(Free Report)

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.