Armistice Capital LLC recently announced the acquisition of new stake in Erasca Inc (NASDAQ:ERAS). The institutional investor has increased its shareholding in the Healthcare company by 6.36% to 8.36 million shares with purchase of 0.5 million shares. This fresh investment now brings its stake to 5.53% valued currently at $17.8 million. In addition, BlackRock Fund Advisors raised its holdings by 0.15 million to 6.22 million shares. And SV Health Managers LLP has lifted its position by 35.06% or 0.5 million shares – to 1.93 million shares.
With over 0.44 million Erasca Inc (ERAS) shares trading Friday and a closing price of $1.93 on the day, the dollar volume was approximately $0.85 million. The shares have shown a negative half year performance of -26.62% and its price on 01/12/24 lost nearly -1.03%. Currently, there are 149.33M common shares owned by the public and among those 92.54M shares have been available to trade.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Insiders at the company have transacted a total of 10 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 10 of these insider trades were purchases, accounting for 1,225,890 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Erasca Inc are iShares Russell 2000 ETF, Vanguard Total Stock Market ETF, and Vanguard Extended Market Index Fu. iShares Russell 2000 ETF owns 2.2 million shares of the company’s stock, all valued at over $4.69 million. The company sold 5832.0 shares recently to bring their total holdings to about 1.46% of the shares outstanding. Vanguard Extended Market Index Fu bought 0.14 million shares to bring its total holdings to over 1.12 million shares at a value of $2.39 million. Vanguard Extended Market Index Fu now owns shares totaling to 0.74% of the shares outstanding.
The company’s stock has a 5-day price change of -5.39% and -19.58% over the past three months. ERAS shares are trading -9.39% year to date (YTD), with the 12-month market performance down to -52.35% lower. It has a 12-month low price of $1.51 and touched a high of $4.57 over the same period. ERAS has an average intraday trading volume of 1.15 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -5.88%, -6.55%, and -22.68% respectively.
Institutional ownership of Erasca Inc (NASDAQ: ERAS) shares accounts for 39.23% of the company’s 149.33M shares outstanding. Mutual fund holders own 29.40%, while other institutional holders and individual stakeholders account for 9.98% and 29.28% respectively.
It has a market capitalization of $291.60M and a beta (3y monthly) value of 0.92. The earnings-per-share (ttm) stands at -$1.70. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.09% over the week and 7.74% over the month.
Analysts forecast that Erasca Inc (ERAS) will achieve an EPS of -$0.21 for the current quarter, -$0.22 for the next quarter and -$1.04 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.23 while analysts give the company a high EPS estimate of -$0.18. Comparatively, EPS for the current quarter was -$1.06 a year ago. Earnings per share for the fiscal year are expected to increase by 54.41%, and -14.35% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate Erasca Inc (ERAS) as a “Strong Buy” at a consensus score of 1.29. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 1 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ERAS, a number of firms have released research notes about the stock. BofA Securities stated their Neutral rating for the stock in a research note on January 05, 2024, with the firm’s price target at $11-$6.
